A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income.
An individual savings account is a class of retail investment arrangement available to residents of the United Kingdom. First introduced in 1999, the accounts have favourable tax status. Payments into the account are made from after-tax income, then the account is exempt from income tax and capital gains tax on the investment returns, and no tax is payable on money withdrawn from the scheme.
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. More generally, actuaries apply rigorous mathematics to model matters of uncertainty.
A tontine is an investment linked to a living person which provides an income for as long as that person is alive. Such schemes originated as plans for governments to raise capital in the 17th century and became relatively widespread in the 18th and 19th centuries.
The Independent Order of Foresters, operating as Foresters Financial, is a fraternal benefit society headquartered in Toronto, Ontario, Canada that provides life insurance and other financial solutions in Canada, the United Kingdom, and the United States. As of 2022, Louis Gagnon has served as the company’s President and CEO.
A friendly society is a mutual association for the purposes of insurance, pensions, savings or cooperative banking. It is a mutual organization or benefit society composed of a body of people who join together for a common financial or social purpose. Before modern insurance and the welfare state, friendly societies provided financial and social services to individuals, often according to their religious, political, or trade affiliations. These societies are still widespread in many parts of the developing world, where they are referred to as ROSCAs, ASCAs, burial societies, chit funds, etc.
A mutual organization, or mutual society is an organization based on the principle of mutuality and governed by private law. Unlike a true cooperative, members usually do not contribute to the capital of the company by direct investment, but derive their right to profits and votes through their customer relationship. A mutual organization or society is often simply referred to as a mutual.
The Equitable Life Assurance Society, founded in 1762, is a life insurance company in the United Kingdom. The world's oldest mutual insurer, it pioneered age-based premiums based on mortality rate, laying "the framework for scientific insurance practice and development" and "the basis of modern life assurance upon which all life assurance schemes were subsequently based". After closing to new business in 2000, parts of the business were sold off and the remainder of the company became a subsidiary of Utmost Life and Pensions in January 2020.
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).
A stakeholder pension scheme is a type of personal pension in the United Kingdom.
Aegon UK (Aegon) is an Edinburgh based financial services provider specialising in pensions, investments and insurance.
A child trust fund (CTF) is a long-term savings or investment account for children in the United Kingdom. New accounts can no longer be created as of 2011, but existing accounts can receive new money: the accounts were replaced by Junior ISAs.
KiwiSaver is a New Zealand savings scheme which has been operating since 2 July 2007. Participants can normally access their KiwiSaver funds only after the age of 65, but can withdraw them earlier in certain limited circumstances, for example if undergoing significant financial hardship or to use a deposit for a first home.
The Foresters Friendly Society is a British friendly society which was formed in 1834 as the Ancient Order of Foresters. As of 31 December 2016, the society had approximately 75,000 members. Its head office is located in Southampton, England.
UIA (Insurance) Limited is a mutual insurance company in the United Kingdom, providing general insurance products to members of the trade union movement and other not-for-profit organisations. It is a member of the Association of British Insurers and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority. UIA Limited is a wholly owned subsidiary, authorised and regulated by the Financial Conduct Authority.
Benenden Health is a not-for-profit mutual society in the UK providing private medical cover. Its membership consists of over 800,000 individuals and employees of corporate schemes provided by them. Benenden Health was the shirt sponsor of York City Football Club from the 2012–13 season until the 2018-2019 season.
The National Pension System (NPS) is a defined-contribution pension system in India regulated by Pension Fund Regulatory and Development Authority (PFRDA) which is under the jurisdiction of Ministry of Finance of the Government of India. National Pension System Trust was established by PFRDA as per the provisions of the Indian Trusts Act of 1882 for taking care of the assets and funds under this scheme for the best interest of the subscriber.
Engage Mutual Assurance was a financial products provider based in Harrogate, North Yorkshire. It operated as a mutual friendly society with no shareholders, and was owned by its 500,000 members.
Scottish Friendly Assurance Society Limited is a leading UK mutual life and investments organisation. It provides a range of investment and protection products and provides life and investment products and services to other financial organisations. One of the largest life offices in Scotland, Scottish Friendly is based in Glasgow, United Kingdom and operates throughout the UK and Ireland. It has over 712,000 members and over 1 million policyholders. As of 29 December 2019, the society looked after assets worth over £5.3 billion.
Healthy Investment is a British mutual friendly society that provides a range of ethical With-profits savings and investment products. It was originally formed in 1835 as Independent Order of Rechabites, and traded until 2004 as The Rechabite Friendly Society. It has more than 100,000 members and looks after over £115m of members' money.
