Life and Pension Fund Range

Canlife UK Property and Canlife UK Property Income funds deferred

In light of the current outbreak of the coronavirus (COVID-19) and resulting uncertainty in global financial markets, the independent valuers of the LF Canlife UK Property ACS have advised it is not currently possible to provide accurate and reliable valuations for all the properties. For this reason, Link Fund Solutions (LFS), which is the authorised contractual scheme manager of the LF Canlife UK Property ACS, has decided, in consultation with the independent valuers, to apply the full contractual 185-day notice period to sell units in the LF Canlife UK Property ACS. This is in order to protect investors during this time of significant market volatility. This means that all requests to sell units in the fund will be subject to a 185-day notice period.

As a result of this, we have decided to make changes to our linked Life and Pension funds, which invest mainly in the LF Canlife UK Property ACS:

  • New requests to withdraw money or switch out of the Canlife UK Property and Canlife UK Property Income will be deferred for up to 6 months
  • New investments or switches into the fund cannot be accepted at this time
  • Existing regular withdrawals and adviser charges will continue to be paid

Questions and answers

This action reflects the exceptional circumstances in the UK property market and the need to protect client interests by deferring redemptions in the linked Life and Pension funds while there is material uncertainty regarding how the assets should be valued.

Following the suspension of the LF Woodford Equity Income Fund in June 2019, we have since received notification from Link Fund Solutions (Authorised Corporate Director of the fund) that the decision has been made to wind up the fund. This means that the Canlife LF Woodford Equity Income Fund (which invests in this fund) will remain suspended and buying/selling the fund is not currently possible. The LF Woodford Equity Income fund is expected to be wound up in January 2020. For further information please see the Link Fund Solutions website.

For The Retirement Account fund information, including fund fact sheets and daily unit prices

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The life and pension fund range provides access to over 150 carefully selected funds covering all the main asset classes. The range includes our popular risk-rated, multi-asset Portfolio funds, which sit alongside a selection of single strategy funds – providing you with the flexibility to create bespoke investment portfolios to meet your clients’ individual risk profiles whilst satisfying their investment objectives.

When selecting which funds to make available, we undertake a vigorous selection process. Before an external fund link is added to the range it will undergo a thorough due diligence process to ensure it is fit for purpose and meets all the investment, operational, governance and compliance standards that Canada Life would expect. On an ongoing basis all of the funds in the range are monitored by Canada Life to ensure they continue to meet the expected standards. Fund performance of the funds is monitored regularly to ensure reasons for poor performance are understood and that funds are being managed in line with reasonable policyholder expectations.

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Key Information Document and Fund Information Guides

New regulations require customers to receive key information about the Select Account and funds before purchasing the product. The Key Information Document for the Select Account (including the discounted gift option) can be found here.

The information for the funds available through the Select Account is either available as a Fund Information Guide on our fund centre or, where it has not been possible to produce a guide, by accessing the Key Investor Information Documents directly from the investment manager using the links below:

Canada Life
Tavistock Acumen

The fund range can be accessed through the following options:

Solutions available now

Legacy solutions (closed to new business)

Canada Life also manages legacy solutions previously sold by ManuLife and Albany Life which offered access to smaller ranges of life and pension funds as well as With-Profits funds.

View life and pension fund information


Useful Links

Fund centre adviser guide 

Latest monthly performance bulletins for the life and pension funds;

Please note that past performance is not a guide for the future. The value of units can fall as well as rise and currency fluctuations may also affect performance.

This website is for UK professional advisers only and is not approved for use by private customers.

Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Canada Life International Limited and CLI Institutional Limited are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority.

Canada Life International Assurance (Ireland) DAC is authorised and regulated by the Central Bank of Ireland.

Stonehaven UK Limited and MGM Advantage Life Limited, trading as Canada Life, are subsidiaries of The Canada Life Group (U.K.) Limited. Stonehaven UK Ltd is authorised and regulated by the Financial Conduct Authority. MGM Advantage Life Limited is authorised and regulated by the Financial Conduct Authority.