£7.3bn Bulk Annuity premiums 3
Bulk Annuities
Where financial strength meets a member-focused experience
At Canada Life UK, we’re building stronger, more secure financial futures.
Core to our value proposition is our solid financial foundation, our flexible and collaborative approach to every scheme, and our commitment to supporting your members through the moments that matter.
Support for every stage of retirement, all in one place
Your Life is member’s new online hub, bringing retirement planning, pension management and wellbeing support together in one simple place.
Every member will have access to a whole range of resources, including their defined benefit pension portal, wellbeing support, practical guides, and retirement planning tools.
At the heart of Your Life Hub is WeCare, offering health, wellbeing, financial and legal support for members and their immediate family.*
In other words, Your Life has everything your members need to feel supported, confident and in control during their journey into and through retirement.
Our extensive experience with annuity products means that we’re able to price our tender competitively, manage risk effectively, and provide excellent administration for your scheme.
We're invested for the long term to create lasting value for our customers and partners.
Our financial strength and security
We’re part of the Great-West Lifeco group, so when you work with us, your bulk annuity scheme is in safe hands.
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Years of history
£0 billion
Assets under administration 1
CC+
Ratings from Fitch, Morningstar DBRS and S&P Global 2
Our proven credentials
£2m to £750m+ transactions ranging in size from micro to large 3
19 to 2,900+ Bulk Annuity membership sizes 3
Marking 10 years in the bulk annuities
In 2025, we celebrated a decade in the bulk annuities market. We’re excited to build on this strong foundation and deliver solutions for the full range of pension schemes. In years ahead, we’ll continue to adapt to the market’s changing needs and evolving priorities.
Hear from Shreyas Sridhar, Managing Director, BPA
Trusted experts
Meet our Bulk Annuities experts
Our expanded specialist team is made up of top-tier talent.
We aim to offer best-in-class service at each stage of the process, bringing you pension de-risking expertise to you and your members.
Stewardship and sustainability
Sustainability and stewardship considerations form part of our holistic investment decision-making process.
We’re proud that Canada Life Limited has been awarded UK Stewardship Code signatory status.
Bulk annuities news
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Canada Life appoints Rhian Littlewood as BPA Strategic Delivery Director
Canada Life has appointed Rhian Littlewood as Strategic Delivery Director, Bulk Purchase Annuities (BPA), effective 7 April 2026.
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Canada Life completes £40m buy-in with financial services sector pension scheme
Canada Life has completed a £40m full-scheme buy‑in for a financial services pension scheme, securing benefits for over 140 members. The transaction, supported by Hymans Robertson and other scheme advisers.
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Canada Life completes £30m buy-in with Phoenix Medical Supplies Pension Scheme
Canada Life has secured the future benefits for more than 145 pensioners and 80 deferred members of the Phoenix Medical Supplies Pension Scheme by delivering a £30 million full-scheme buy-in transaction.
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Canada Life completes £105m full scheme buy-in
Canada Life has completed a £105 million full-scheme buy-in with a UK pension scheme whose sponsor is in the industrials sector, securing the future benefits of over 350 deferred members and over 1,450 pensioners.
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Canada Life completes £80m pensions buy-in with Safeway Pension Scheme
Canada Life has completed an £80million buy-in transaction with the Safeway Pension Scheme, insuring the future benefits of more than 350 deferred members and 1,450 pensioners.
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Canada Life delivers £189m buy-in for pension scheme in healthcare sector
Canada Life secures £189m full-scheme buy-in for a healthcare sector pension scheme, protecting benefits for over 1,700 members with flexible, tailored solutions.
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Canada Life completes £330m full scheme buy-in with the Comet Pension Scheme
Canada Life UK has completed a £330 million full-scheme buy-in transaction with the Comet Pension Scheme, securing the future benefits of 4,500 pension scheme members.
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Canada Life completes third pension scheme buy-in with A.G. Barr p.l.c.
Canada Life secures £41m buy-in with A.G. Barr, protecting pension benefits for 300 members in final phase of Scheme’s de-risking journey.
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Canada Life appoints Dominic Carpenter to lead BPA commercial strategy
Canada Life has appointed Dominic Carpenter as Commercial & Strategy Director, Bulk Purchase Annuities (BPA), effective 6 October 2025.
Bulk annuities explained
Notes:
*WeCare is a non-contractual benefit provided to defined benefit pension scheme buy-out members through Canada Life and can be altered or withdrawn at any time.
Immediate family includes a spouse, partner, parent or sibling living in the same household as the member, any legal dependant under 21 in full‑time education, or any other legal dependant who relies on the member due to disability. If the member passes away, the spouse or partner will retain access to WeCare using the member’s details for six months.
- As at 31st December 2025. Please note that AUA is a non-GAAP financial measure. Additional information regarding this measure is incorporated by reference and can be found in the "Non-GAAP Financial Measures and Ratios” section of Great-West Lifeco's 2025 Annual MD&A, available at www.sedarplus.com.
- AA ratings for financial strength. Available at https://www.greatwestlifeco.com/investors-analysts/ratings.html. Please note that the public credit ratings refer to Canada Life Assurance Company (CLAC) – a Canadian regulated entity. Canada Life Ltd (CLL) is a 100% owned subsidiary of CLAC. As CLL raises no public debt, it does not have a public credit rating.
- Figures as at 31st December 2025