- Passive funds track a market, meaning they aim to perform in line with the market average. They are generally run by a computer and are lower risk than active funds (with a lower fee).
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- With a pension drawdown, your pension pot stays invested, but you can draw a regular income from it. It means you can keep your money invested and hence benefit from any potential growth, without being taxed.
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- A platform is a single place where all your investments (be it ISAs, SIPPs, stocks and shares) can be held.
Rather than having separate investments in lots of different places, they can all be kept under one roof (like a financial supermarket), which can make things simpler to manage and more cost-effective.
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