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Financial Literacy in the News

Glossary of Terms

Income tax is tax that you pay on your income, calculated as a percentage of your taxable income. How much you pay will depend on your...
A trust in which the interest of a beneficiary cannot be assigned (transferred to another), or disposed of by him, or attached (legally seized), or otherwise reached by his creditors. This...
Defined benefit plans have historically been the most widely used type of pension plan. They involve the employer setting aside money years before its workers retire, and when they retire, the pension plan pays out a predetermined...
A complex trust is a trust that has the ability to distribute income generated by the trust to the beneficiaries, distribute amounts other than income, make charitable contributions, or retain...
When you own shares in a public company and that company makes a profit, the management of the company might decide to give some of that profit back to its...
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