PERSONAL EQUITY PLAN


Meaning of PERSONAL EQUITY PLAN in English

( abbr PEP ) n

a system started by the Conservative government in Britain in 1987 to encourage people to save their money. People who bought a Personal Equity Plan could invest a limited amount of money in companies and did not have to pay any tax on the profits they made. The system was replaced by the ‘individual savings account’ ( ISA ) in 1999.

Oxford guide to British and American culture English vocabulary.      Руководство по британской и американской культуре, Оксфордский английский словарь.