Glossary of terms used on this site

A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and private companies. They are especially important to the stock market where large institutional investors dominate. The largest 300 pension funds collectively hold about $6 trillion in assets.

Personal finance is a term that covers managing your money and saving and investing. It encompasses budgeting, banking, insurance, mortgages, investments, retirement planning, and tax and estate planning. It often refers to the entire industry that provides financial services to individuals and households and advises them about financial and investment opportunities.

The rate of interest that major banks charge their most credit- worthy corporate customers. Why should you care? Well, because the inter- est rates on various loans you may be interested in are often based on the prime rate. And, guess what — you pay a higher interest rate than those big corporations!