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.

Flexible Drawdown Plan

What is the Flexible Drawdown Plan?

The Flexible Drawdown Plan (‘FDP’) is a flexi-access drawdown plan that gives your clients access to their savings without unnecessary restrictions or additional charges.

  • Low minimum initial investment of £10,000
    Minimum transfer £5,000
  • No set-up fee or additional charges for withdrawals
  • No minimum withdrawal amounts or minimum fund value to consider
  • Approximately 150 investment funds from a wide choice of fund managers
  • The option to invest in up to 10 investment funds per investment with no charges for switching
  • Access to the Canada Life Portfolio Funds
    Initial, on-going and ad hoc adviser fees can be facilitated
  • In the event of your client’s death, benefits can be paid out either as a lump sum or used to set up a beneficiaries drawdown arrangement
  • Efficient business administration teams backed by “The Canada Life Service Charter”


The value of the plan can go down as well as up and the client may not get back the full amount they invested.

The FDP may suit clients that:

  • Have at least £10,000 to invest
  • Are looking for complete flexibility over their retirement fund
  • Are looking to take all their tax-free cash

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


Fixed Term Income Plan

A drawdown product that can provide your clients with guaranteed income and growth


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.