What are safeguarded pension benefits?
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In short: Safeguarded benefits are valuable guarantees attached to a pension — defined-benefit promises, guaranteed annuity rates, protected tax-free cash above 25%, or guaranteed minimum pensions. Transferring or consolidating without advice can destroy guarantees worth tens of thousands.
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Reviewed by Kaiser Khan
Request a transfer value statement and ask explicitly about guaranteed annuity rates and protected tax-free cash before moving pots.
Defined-benefit transfers above £30,000 require regulated financial advice by law — you cannot waive this.
Even some defined-contribution workplace pensions from the 1980s–1990s carry guaranteed rates far above today's annuity market.
See pension consolidation guide and should I consolidate answer.
Primary source: gov.uk/find-pension-contact-details
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