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Section 32 - a type of pension contract.

SERPS - see State Earnings Related Pension Scheme.

Self Certification (mortgages) - a form of mortgage where you are not asked to prove your income, but simply state it.

Settlement (trusts) – a Trust.

Settlor (trusts) - person who sets up a Trust

Short (stocks/shares) - to sell a stock that you do not own in the hope of buying it cheaper, or do so via a derivative (e.g. option). Ie to bet that a stock will fall. For experienced stock market investors only.

Single Price units - the financial instrument is bought and sold at one price, e.g. 100p.

Small Self Administered Pension Scheme - a type of pension scheme normally only used by people who own and control companies.

SSAS - see Small Self Administered Pension Scheme.

Stakeholder (pension) - a type of pension scheme.)

State Second Pension - Successor to SERPS. The rules are different, but designed to, on the whole, offer a better deal for the low paid, carers, mothers of young children and people with illness/disability.

Stamp Duty - a tax on share and property transactions.

State Earnings Related Pension Scheme - A top up to the Old Age Pension, based on your earnings. See also Additional State Pension .

Surrender Value - what an insurance company offers you for your policy if you want money early. May not be the best you can do.