Personal Equity Plan - PEP

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DEFINITION of 'Personal Equity Plan - PEP'

An investment plan in the U.K. that used to allow people over the age of 18 to invest in shares of U.K. companies. It was done through an approved plan, qualifying unit trust, or investment trust. Investors received both income and capital gains free of tax.

BREAKING DOWN 'Personal Equity Plan - PEP'

The plan encouraged investment by individuals. Discontinued in 1999, it was replaced by Individual Savings Accounts (ISA).

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RELATED FAQS
  1. What are the requirements for opening a savings account in the United States?

    Nearly half of all Americans use a savings account with a bank or credit union as a personal savings vehicle. A savings account ... Read Full Answer >>
  2. Can a foreign individual open a savings account in the United States?

    A non-U.S. citizen can open a bank account in the United States – an American Social Security number is not necessary for ... Read Full Answer >>
  3. How is a savings account taxed?

    In the United States, the Internal Revenue Service considers interest earned in a savings account to be taxable income. Taxpayers ... Read Full Answer >>
  4. What economic factors affect savings account rates?

    At a basic economic level, the interest rate set on savings account deposits is determined by the relationship between how ... Read Full Answer >>
  5. What is the rate of return I can expect on a savings account?

    Prior to the Great Recession, savings account rates offered by banks could typically be found in the 4 to 8% range, depending ... Read Full Answer >>
  6. How much money should I have in a savings account?

    Most financial advisers or budgeting experts recommend that individuals and households keep enough money in liquid savings ... Read Full Answer >>

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