PEPPronunciation: /pɛp/ (also Pep)Translate PEP | into Italian Definition of PEP noun (plural PEPs) (in the UK) personal equity plan, a scheme allowing individuals to hold shares and unit trusts free of tax on dividends and capital gains (replaced in 1999 by the ISA). abbreviation British Political and Economic Planning. Origin:acronymPEP in other Oxford dictionaries Definition of PEP in the US English dictionary
