Malcolm Mclean
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What do pension terms really mean?

20 July 2011 Last updated at 07:09 BST

Pensions are very complicated and the language used to explain them can add to the confusion.

This means that people make the wrong decisions about their pension - which can leave them vulnerable when they retire.

To make things easier, the government is issuing a new language guide for pensions.

Pensions adviser Malcolm Mclean explains what some of the more obscure pension terms really mean.