What is a guaranteed annuity rate and how does it compare to other annuity rates?Fri Mar 20 15:13:00 GMT 2015 Back to results
Some pension plans offer a guaranteed annuity rate when you open them. If you have this benefit, it means your plan will guarantee to offer you a particular annuity rate, even if the market rate is different. It is important to check if you have this benefit as it may give you a much higher pension than you'd get by buying one in the open market.
It's important to note that you’ll lose your right to the guaranteed annuity rate if you:
- take all your fund as cash
- transfer to another pension provider
- take an Open Market Option
- transfer to one of our platform products