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单词 individual retirement account
释义

individual retirement account

individual retirement account(IRA) A US pension plan that allows annual sums to be set aside from earnings free of tax and accumulated in a fund, which pays interest. Basic-rate tax is payable once the saver starts to withdraw from the account, which must be done no later than the participant’s 70th birthday. The concession is not available to employees in a company-pension scheme or profit-sharing scheme.

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更新时间:2024/11/11 5:50:46