Financial Glossary
Key terms explained in plain English, no jargon, no complexity. We appreciate our industry uses a lot of financial ‘jargon’, which can make it difficult to decipher information and correspondence. In order to try to assist with this, we have created a glossary of many of the terms you may come across. If you would like further clarification on any of the definitions, or cannot find a particular term, we would be happy to assist further.
GDP (Gross Domestic Product)
A measure of the value of all goods and services produced in an economy in a year.
Gilt
A bond issued by the British Government.
Guaranteed Annuity Rate
A guaranteed annuity rate guarantees that the annuity rate the provider offers will always be at a certain minimum level. If your pension includes a guaranteed annuity rate, it means you could get a higher income than normal.
Guarantee period (annuity)
This is the minimum number of years from the start of an annuity in which income will continue to be paid, even if the policyholder dies during that period.