Limited Contributions and Suitable Assets
There were two types of PEP:
- A general PEP with an annual allowance of £6,000.
- A single company PEP with an annual allowance of £3,000.
Investments in a general PEP were limited to qualifying collective investments. Qualification was previously defined as an investment that invested at least half of its assets in the UK and was later extended to the European Union. The qualification rule for existing PEPs was removed in 2001.
Single company PEPs could be invested in shares in a single company. Additionally Windfall shares received by members from mutual bodies when they became listed companies could also register the holdings as a PEP.
Read more about this topic: Personal Equity Plan
Famous quotes containing the words limited and/or suitable:
“Psychology has nothing to say about what women are really like, what they need and what they want, essentially because psychology does not know.... this failure is not limited to women; rather, the kind of psychology that has addressed itself to how people act and who they are has failed to understand in the first place why people act the way they do, and certainly failed to understand what might make them act differently.”
—Naomi Weisstein, U.S. psychologist, feminist, and author. Psychology Constructs the Female (1969)
“Japanese food is very pretty and undoubtedly a suitable cuisine in Japan, which is largely populated by people of below average size. Hostesses hell-bent on serving such food to occidentals would be well advised to supplement it with something more substantial and to keep in mind that almost everybody likes french fries.”
—Fran Lebowitz (b. 1975)