What does RAC stand for?

Retirement Annuity Contract (UK)

This definition appears very rarely and is found in the following Acronym Finder categories:

Military and Government
Business, finance, etc.

Other Resources:

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Samples in periodicals archive:

A Individual pensions taken out prior to 1988 were in fact classed as retirement annuity contracts and had slightly different rules applying to them.

Q& A

Some existing pensions, including section 32 contracts and Retirement Annuity Contracts (RACs), may have more generous allowances for tax-free cash than the 25pc of the fund that will be the norm after A-Day.

Are you ready for pensions shake-up? In part two of our countdown to ...

I have been paying into a retirement annuity contract for a number of years and have also started a personal pension.

MONEYBOX

Change to pension regime: Some existing pensions, including section 32 contracts and Retirement Annuity Contracts (RACs), may have more generous allowances for tax-free cash than the 25pc of the fund that will be the norm after A-Day.

Preparing for a pensions revolution

New life for an ailing systemailing; In part two of the countdown to ...

Many savers have their pensions in packaged products: personal pensions or the old retirement annuity contracts offered by industry giants such as Standard Life, Norwich Union and Scottish Widows.

SIPP THE SWEET STUFF

OLD-STYLE retirement annuity contracts - or Section 226 pensions - give lump sums of up to three times the starting income, roughly 22 pc to 30pc of the fund.

Do you lump it or leave it? How to use pension cash perk

Unlike personal pension policies or retirement annuity contracts where there is a list of qualifying retirement ages for certain occupations such as sports people, the Inland Revenue must individually approve an earlier retirement age under an occupational scheme.

Since you ask