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guaranteed annuity rate

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2015-06-08

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2020-10-01

guaranteed annuity rate

56an arrangement in a pension scheme to provide benefits whereby, in defined circumstances and irrespective of the prevailing market rate for annuities when those benefits come into payment, a member is entitled to:

(a) an annuity at a minimum specified rate; or

(b) benefits equivalent to that annuity at that minimum specified rate.

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