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Definition of Personal Equity Plan noun from the Oxford Advanced Learner's Dictionary

 

Personal Equity Plan

 noun
noun
BrE
 
; NAmE
 
(abbreviation PEP)
 
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a savings scheme in Britain from 1987 to 1999. People who bought a Personal Equity Plan could invest a limited amount of money in companies and did not have to pay any tax on the profits they made. Although the system was replaced by the ISA, people still get tax relief on the PEPs they hold.