Trustees

Where financial strength meets a member-focused experience

We work in partnership with you to de-risk your scheme and guarantee your members’ benefits

By working flexibly and collaboratively with you and your advisers, we’ll help you to navigate the process, so you have confidence we’re delivering security, protection and support to scheme members for the long term.

Our flexible and collaborative approach

Being part of Great-West Lifeco enables us to access an extensive business footprint, source assets widely, and implement new ways of working. This means we’re agile in our processes while being able to make long-term decisions.

KION Group completes £250m full scheme buy-in with Canada Life

See how we completed a £250m transaction comprising of five schemes. Here, through collaboration and agility, we were able to simplify the process and provide a smooth journey for trustees.

Read KION case study

Your onboarding journey

Our solutions are bespoke, and when you sign with us, you’ll have an allocated scheme consultant to ensure a smooth transition process.

And for your members, our dedicated member options team will help to ensure they’re onboarded safely and easily.

We take our operational responsibilities seriously, so checking and testing is undertaken at the RFI stage, ahead of onboarding your scheme.

Throughout the process, our member options team will carry out monitoring, sampling and governance control.

Your journey to buy-out

Our goal is to ensure a seamless journey from buy-in to buy-out. Here are the key milestones.

Buy-in phase

Step 1

Post transaction

  • Pre-agreed fixed monthly payments commence
  • Member option calculations & payments commence
  • Set up monthly project meetings & Steer Co governance
  • All parties engaged
  • Agree buy-out project plan
Step 2

Data verification period

  • Data verification finalised
  • Benefit specification document finalised
  • Queries resolved
  • Final premium settled
  • Admin system updated to reflect data changes

 

Buy-out phase

Step 3

Buy-out preparation

  • Shadow payroll & pension increase reconciliation completed
  • Member communication strategy agreed
  • Final policy document drafted
  • Additional member data provided to Canada Life
  • Cut-over plan agreed
  • AVC – Engage with Smart Pensions
  • HMRC leaver & joiner process agreed
Step 4

Buy-out

  • ‘Go – No Go’ decision point
  • Goodbye letter issued to members from trustees
  • Welcome letter & policy document issued to members from Canada Life

Your members’ experience

We focus on our member's needs, and our extensive experience with annuity products means we have a deep understanding of how to support your members from buy-out into retirement. 

Members benefit from a welcome pack, regular communications throughout their journey, and a dedicated wake up pack before retirement, along with access to:

  • Your Life Hub , bringing retirement planning, pension management and wellbeing support together in one simple place 

  • WeCare for health, wellbeing, financial and legal support*  

  •  Canada Life OneView for 24/7 access to real time information, planning for retirement, managing policies and requesting quotes 

Our proven track record

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Global customer relationships 1

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Customers in the UK2

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Trust Pilot score, Canada Life UK3

How we support members

With streamlined processes, strong service-level agreements, and a focus on first-time resolution, we’re committed to delivering good customer outcomes. Support is available via Your Life Hub, WeCare, our online portals, phone, email, post, and online resources, including educational videos, jargon busters and FAQs.

 Member feedback drives improvements, and dedicated measures ensure support for vulnerable customers through flexible communication options and accessibility features.

Find out more about our member experience and administration.

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. 

Get to know our team

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.

Our sustainability approach

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. 

  1. Figures as at 31st December 2025
  2. Figures as at 31st December 2025
  3. Canada Life UK Trustpilot score as at April 2026