The Pensions Guide


Pensions Knowledgebase and Glossary

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Ill−health early retirement This happens when a member retires early because of ill−health. They may get higher pension benefits than a member normally gets when they retire early.
Incapacity Benefit Paid if Statutory Sick pay (SSP) has ended, or if you cannot get SSP. Incapacity Benefit is not paid if you were over State Pension Age when you became sick.
Income Support If you are aged between 16 and 59, on a low income and not working or working less than 16 hours a week on average, you may be eligible for Income Support.
Individual Savings Account (ISA) A tax-free savings scheme designed by the UK Government to help you save money.
Inheritance Tax Inheritance Tax is the tax that is paid on your 'estate'. Broadly speaking this is everything you own at the time of your death, less what you owe.
It is also sometimes payable on assets you may have given away during your lifetime. Assets include things like property, possessions, money and investments.
Injuries or illness from work If you have been disabled by an accident at work or have a disease or deafness caused by a job you have done, you may be able to claim Industrial Injuries Disablement Benefit.

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