Scheme

This is what The People’s Pension is – a pension scheme. We prefer to say ‘pension scheme’ in full though – a ‘scheme’ could be a rewards card, or something sinister, or funding for lollipop ladies, or pretty much anything.

You might also come across ‘pension arrangements’, ‘pension plans’ or ‘pension funds’ (which gets confused with investment funds…). They basically all mean the same thing.