What do pension terms really mean?

20 July 2011 Last updated at 02:09 ET Help

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.

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.