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Minimum income guarantee |
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Minimum income guaranteeThe Minimum Income Guarantee tops up pensioners' incomes from the basic state pension. In the year 2003, the top up is to £102.10 a week for a single person to £155.80 for a couple.The MIG rises with wages inflation which tends to move faster than price inflation (on which the basic state pension is based) so in time the gap between the state pension and the MIG should grow.Anyone with assets over £12,000 is disqualified from the MIG.Similar MatchesGuarantee mortgageGuarantee mortgageA loan guaranteed by a third party, such as a government institution. Guaranteed insurance contractGuaranteed insurance contractA contract promising a stated nominal interest rate over some specific time period, usually several years. Guaranteed Mortgage Certificates (GMC)Guaranteed Mortgage Certificates (GMC)First issued by Freddie Mac in 1975, G.M.C.s, like PCs, represent undivided interest in specified conventional whole loans and participations previously purchased by Freddie Mac. Letter of GuaranteeLetter of GuaranteeA letter from a bank to a brokerage firm which states that a customer (who has written a call option) does indeed own the underlying stock and the bank will guarantee delivery if the call is assigned. Thus the call can be considered covered. Not all brokerage firms accept letters of guarantee. Also: letter issued to Option Clearing Corporation by member firms covering a guarantee of any trades made by one of its customers, (a trader or broker on the exchange floor). Guaranteed minimum pensionGuaranteed minimum pensionThe minimum pension payable by a pension scheme in order that members may contract out of S2P (State Second Pension). Further SuggestionsGuarantee Feeguaranteed income bond guaranteed sum assured Export Credits Guarantee Department guaranteed trust Guaranteed death benefit Guaranteed renewable policy insurance Guaranteed investment contract (GIC) Medium Term Guarantee Program Guaranteed replacement cost coverage insurance Guaranteed insurability guarantee Guaranteed bond guaranteed death benefit Guaranteeing or Avalising Bank Indemnity Guarantee Premium guaranteed minimum period Guarantee guaranteed renewable policy guaranteed growth bond Multilateral Investment Guarantee Agency (MIGA) Financial guarantee insurance MIG Mortgage Indemnity Guarantee Signature guarantee |
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