Results for letter: I
IFA (INDEPENDENT FINANCIAL ADVISER)
A finance professional who must by law give impartial ‘best advice’ on financial companies, markets and products. IFA’s are completely independent and can recommend the products of any company.
IMRO INVESTMENT MANAGEMENT REGULATORY ORGANISATION
The body that regulates the management of unit trusts.
A facility by which you can draw an income from your pension fund while keeping the rest fully invested. Under present rules you can do this until age 75, at which point you must use your remaining pension fund to buy an annuity.
Tax payable if you have income above the minimum level taxable in the UK.
An increase in contributions, or an additional contribution, to a policy already in existence.
A means of measuring movement in a set of statistics over a period of time, used as a benchmark by unit trust managers.
Payments protected against the effects of inflation by increasing in line with changes in the index of retail prices.
The amount, expressed as a percentage, by which prices rise or fall year on year.
IHT (INHERITANCE TAX)
Tax, payable after you die, on the value of your assets in excess of a certain threshold value. Certain gifts between husband and wife are exempt. IHT is also chargeable in certain circumstances while you are still alive.
A charge levied by your investment manager to cover administration and sales commission when you invest in a fund.
INTEREST ONLY MORTGAGE
A mortgage in which repayments consist only of interest on the amount you have borrowed. At the end of the mortgage period you pay off the capital sum you borrowed, using a suitable repayment vehicle, such as an endowment, which you must set up at the outset of the mortgage.
A company, quoted on the Stock Exchange, which invests in other companies’ shares.
ISA's (INDIVIDUAL SAVINGS ACCOUNTS)
Tax efficient savings plans which can hold cash, shares or life assurance, or a combination of all three. ISA’s were introduced in 1999 to replace TESSA's and PEP's.
INCOME PROTECTION INSURANCE
Income protection insurance replaces your income if you become unable to work because you're ill or injured.
The amount of money received during a period of time in exchange for labour (work) or services, from the sale of goods or property, or money received as a profit from financial investments.
A way of taking a flexible income from your pension. In this arrangement you leave your pension invested in retirement, while drawing an income or lump sum as you see fit. You can take 25% of your entire pot tax-free, and any further withdrawals are subject to income tax.