Would a GAR be shown on annual statement

Ant555

Is the presence of a Guaranteed Annuity Rate a thing that would typically be listed on the annual statement of a DC pension or is it something one would need to specifically ask of the provider?

This is the year im going to try and understand about the money I have been putting away for 30 years and initial reading suggests that a GAR is definitely one of the things that may sway a decision to leave money in situ rather than transfer to a more modern plan.  Not paid anything in for years to this Zurich, ex- Allied Dunbar pension,  but its 66% of the money I am going to have to try and live on in old age and despite lots of procrastination, I now intend to get a grip.
Thanks in advance

Marcon

It should be shown, but if it isn't and you want to be quite sure, check with the pension provider.

dunstonh

Is the presence of a Guaranteed Annuity Rate a thing that would typically be listed on the annual statement of a DC pension or is it something one would need to specifically ask of the provider?

No.  You do not see any reference to any safeguarded benefits on most statements.  

Not paid anything in for years to this Zurich, ex- Allied Dunbar pension

30 years would make it a personal pension.  Not a section 226 RAC.   Allied Dunbar didnt have GARs on their PPP.

Croeso69

Ant555 said:

Is the presence of a Guaranteed Annuity Rate a thing that would typically be listed on the annual statement of a DC pension or is it something one would need to specifically ask of the provider?

This is the year im going to try and understand about the money I have been putting away for 30 years and initial reading suggests that a GAR is definitely one of the things that may sway a decision to leave money in situ rather than transfer to a more modern plan.  Not paid anything in for years to this Zurich, ex- Allied Dunbar pension,  but its 60% of the money I am going to have to try and live on in old age and despite lots of procrastination, I now intend to get a grip.
Thanks in advance

If it is unit linked (not with profits) then it is extremely unlikely to have a GAR. I have only seen one such product in 30 years that was unit linked with a GAR - even then the GAR was not great and has only been 'in the money' in the last 5 years or so,

Projections should state in the blurb if you have a GAR. Annuity quotes provided with the projected funds (low, mid and high growth)  should show a GAR annuity and a non-GAR annuity for comparison.

Ant555

Thanks for the replies - I didnt think it had a GAR but I guess I have nothing to lose by double checking with them as its such an old policy that none of it is available online unlike my current Standard Life one.
Yes, its a Personal pension so that doubles down on the fact its unlikely.

My valuations/calculations show I have almost identical equal thirds of my retirement value split between my original AD/Zurich plan, My former protected rights with AD/Zurich and my current active Standard Life plan.

Thanks again.