Pension drawdown glossary
A company listed on the stock exchange that invests in other assets. You buy and sell its shares, so platforms usually apply their share dealing charge, and the share price can differ from the value of what the trust owns.
Source: MoneyHelper: pensions glossary · Last reviewed 24 September 2026
See every term in the A–Z glossary. Definitions are general information for the 2026/27 tax year, not personal advice.
Important: The value of investments can fall as well as rise. You may get back less than you invest. Tax rules can change and benefits depend on individual circumstances. This is not financial advice.