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Jargon Buster

Jargon Buster



Results for letter: S


S2P (STATE SECOND PENSION)

A state pension additional to the basic state pension based on earnings. Replaced SERPS (State Earnings-Related Pension Scheme).

SCRIP ISSUE

The issue of new share certificates to existing shareholders to reflect an accumulation of profits on a company’s balance sheet.

SECURITIES

The general name for stocks and shares.

SERPS (STATE EARNINGS RELATED PENSION SCHEME)

A state pension additional to the basic state pension and based on earnings. Now replaced by State Second Pension [S2P].

SHARES

If you own shares in a company you are a part owner of the company, entitled to vote at annual meetings and benefit from the company’s profits. These are distributed in the form of a dividend.

SMALL CAPS

Another name for small companies.

SSAS (SMALL SELF ADMINISTERED SCHEME)

An occupational pension scheme in which the members are trustees and are directly responsible for administering the fund and paying out the benefits. Some funds are invested in assets other than insurance premiums.

STAKEHOLDER PENSION

A low cost pension scheme introduced by the government in 2001 to encourage people to make provision for their financial future. Stakeholder pensions are aimed at those who may not have been able to afford a personal pension and were not eligible for an occupational or group scheme.

SURVEY

The most common purpose of a survey is to ensure that property is fit for mortgage lending. Your mortgage lender will require that you have at least a basic valuation report carried out. Other types of survey are designed to give an evaluation of the condition and value of a property. These cost more than the basic valuation report.

SWITCHING

Moving an investment out of one fund and into another.

SIPP (SELF-INVESTED PERSONAL PENSION)

A Self-Invested Personal Pension (SIPP) is the name given to the type of UK government-approved personal pension scheme, which allows individuals to make their own investment decisions from the full range of investments approved by HM Revenue and Customs (HMRC). SIPPs are a type of Personal Pension Plan.

STRUCTURED PRODUCTS

An investment made up of a portfolio of securities and derivatives. A structured product can be customised by the investor, and since payoffs and components vary and contain no standards from product to product, an investor must acknowledge the risk in these investments.

SHAREHOLDER PROTECTION

Shareholders normally arrange share protection cover in a business, to provide funds in case one was to die or suffer a critical illness.

SINGLE-TIER PENSION

From April2016 this will replace the current system ensuring that everyone who has made sufficient National Insurance contributions will eventually receive the same payment.

STATE EARNINGS-RELATED PENSION SCHEME (SERPS)

The additional sate pension scheme ran between 1978-2002.

STATE PENSION AGE

This is 65 for men, and being raised to 65 for women. It will reach 65 for both Men and Women by 2018, then continue rising to 66 by 2020 and 67 by 2028.

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