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.

Pension Investment Plan

What is the Pension Investment Plan?

The Pension Investment Plan (PIP) is a personal pension plan offering your clients the opportunity to consolidate existing uncrystallised pension plans.

Allowing them to align their investments with their current objectives and attitude to risk. PIP is available to UK residents aged 18 or over looking for a tax-efficient way to build a retirement fund.

  • Can be set up with a minimum initial investment of £5,000
  • Subsequent investments must be a minimum of £500.
  • No set-up or withdrawal fees applied
    No minimum fund value
  • 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
  • The option, from age 55, to take regular or ad-hoc uncrystallised fund pension lump sums (UFPLS)
    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 beneficiary drawdown.  

The value of your savings can go down as well as up. You may not get back the full amount you invested.

The PIP may suit clients that:

  • Have at least £5,000 to invest
  • Are looking to consolidate other existing pension plans
  • Are looking to make single contributions
  • From age 55, are looking to one or more UFPLSs

Interested In More? Why Not Look At...

Wealth Preservation Account

Clients that have a lump sum to invest for a potential future income

View related product

Offshore Savings Account

Helping clients save for retirement beyond the allowances.


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.