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Whipsaw Glossary

Currently viewing the definition of: Debenture
 
 
 A debenture is a long term loan raised by a company in return for fixed interest payments. 
 


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    • Contracting Out
      In addition to the basic state pension, the government also provide a state earnings related pension scheme (serps). The amount paid at retirement is based on earnings lelves during your working life. An individual can choose to contract out of the state earnings related pension, either when joining their employers contracted out scheme or by setting up a personal pension plan. Contributions are redirected into the pension plan from national insurance contributions. By contracting out the aim is that the pension pot amassed in a private or employer pension scheme will provide a higher income than that available under the governments serps.