Guaranteed minimum pension

 

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Guaranteed minimum pension

The minimum pension payable by a pension scheme in order that members may contract out of S2P (State Second Pension).



Similar Matches

Guaranteed income bond

Guaranteed income bond

A bond in which a single premium secures a guaranteed regular income until maturity at which time the original premium is returned.


Guaranteed growth bond

Guaranteed growth bond

A bond in which a single premium secures a guaranteed amount at its maturity date.


Guaranteed investment contract (GIC)

Guaranteed investment contract (GIC)

 A pure investment product in which a life company agrees, for a single premium, to pay at a maturity date the principal amount of a predetermined annual crediting (interest) rate over the life of the investment.


Guaranteed minimum period

Guaranteed minimum period

The period during which an annuity is paid irrespective of whether the annuitant dies during that period.If the annuitant lives beyond this period, payments continue until death. An annuity with such a guarantee could benefit people, with dependants who require the income to continue after their death. This means that the sum of money paid for the annuity would not be wasted in the event of early death.


Guaranteed bond

Guaranteed bond

A type of bond for which a firm other than the issuer guarantees its interest and principal payments.


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