We have rebranded Retirement Advantage products as Canada Life. Visit our Retirement Account and Home Finance pages.
Please be aware the Canada Life International offices will be closed from 5pm Friday 21st December, re-opening at 9am on Thursday 27th December. Then closed from 5pm on Friday 28th December and re-opening at 9am on Wednesday 2nd January 2019.

Fixed Term Income Plan

What is the Fixed Term Income Plan?

The Fixed Term Income Plan (FTIP) is a drawdown product that can provide your clients with guaranteed income, guaranteed growth, in the form of a Guaranteed Maturity Value (GMV) or a combination of both for a fixed term.

Minimum investment of £10,000 (after tax-free cash and any adviser fee)

  • Term 1 to 20 years
  • Choice of level or escalating income options
  • Income can be taken monthly, quarterly, half yearly or annually
  • Income options with or without a GMV
  • GMV option with no income
  • A guaranteed death benefit automatically included
  • Initial adviser charges can be facilitated

FTIP does not pay an income for life and where a GMV is selected this may not be enough to provide your client with the same level of income or sufficient funds to purchase another FTIP. 

The FTIP may suit clients that:

  • Have at least £10,000 to invest
  • Are looking for a guaranteed income for a fixed term
  • Are looking for a GMV at the end of the fixed term
  • Are low risk or cautious investors

Alan: "I just want a secure income for a few years before I reassess my options when my state pension is available"
Taking tax-free cash from your pot now and investing in the Fixed Term Income Plan

Janet: "I just want to take my whole pension now without paying too much tax"
Taking your whole pension fund as a series of income payments

John: “I just need a fixed term income for a few years”
Taking your tax-free cash, and a fixed term income

Sandra: "I need a guaranteed income, but not for life"
Taking your tax-free cash and a fixed term income

Interested in More? Why not Look At...

Lifetime Annuities & Scheme Pension

For clients who want to take their pension as a guaranteed long-term income


Flexible Drawdown Plan

The CanRetire Flexible Drawdown Plan (FDP) may suit clients who don't want a long-term income product, but need access to their money and want the potential for growth. Find out more.


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 by the Prudential Regulation Authority and regulated by the Financial Conduct Authority.