Yes. In the USA the parallel would be an IRA account, the money put in is limited and not taxable, no tax on capital gains but when taken out the amount you are allowed each year is classified as income.

A Roth IRA is great-you contribute with money that has already been taxed but there is no capital gains or tax when you take out the money. You can also roll over an IRA but only the amount you put in is tax free. The rest you have to wait 5 years before taking out money tax free.

As always check with your tax adviser.