Safeguarded rights are rights within a pension with some element of guarantee not related to the money purchase (investment linked) pension value. Guaranteed Minimum Pension (GMP) from contracting out of SERPS/S2P and Guaranteed Annuity Rate (GAR) are examples. Where you want to transfer these pensions to flexible pensions and lose the guarantees, you must take financial advice if the transfer value exceeds £30,000.
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