What are Guaranteed Benefits?

Some pensions come with a guarantee, or promise, about how much money you’ll get when you retire. These benefits, also known as safeguarded benefits, might include a guaranteed annuity rate (GAR) or a promised level of income or promised minimum level of income. These guarantees are valuable in many cases and it’s important they’re taken into account when you consider transferring your pension.

Related terms
What is a Guarantee Period
What is a Guarantee Annuity Rate