Fixed Term Income Plan

A retirement solution for retirees looking for guarantees for a fixed term.

The Fixed Term Income Plan (FTIP) let’s you decide the level of income you require and the period over which you want to be paid. Additionally you could also select to receive a cash lump sum, payable at the end of your chosen term.
Your professional adviser can help you choose the most suitable option.

  • Access your tax-free cash entitlement before the plan commences.
  • Choose your income level and frequency of payments.
  • Choose the term that you want the income payments to cover (between 1-20 years)
  • Choose to have a Guaranteed Maturity Value (GMV) paid to you at the end of the term.
  • Choose to invest your pension savings to provide income, a GMV or a combination of the two.
  • Allows you to reassess your options at the end of the plan term.

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

The FTIP lets you access your tax-free cash while giving you a level of certainty knowing from the start the benefits selected are guaranteed.  You can choose to have a level income or fixed escalation between 0.1% and 10%.  You can also choose to have your income paid monthly, quarterly, half-yearly or annually. In addition it offers a death benefit.

The FTIP may be suitable, if you are aged 55 or over, with at least £10,000 to invest and looking for guaranteed income and or a GMV, without locking into annuity for life. 

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

Bob: "My key priority is a guaranteed lump sum at the end of the term"

Taking your tax-free cash and benefiting from guaranteed growth

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

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

Interested in More? Why not Look At...

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CanRetire Flexible Drawdown Plan

Prepare for retirement, with flexible access to your savings.


"John has recently reduced his hours at work and is looking for a secure income to supplement his earnings until his state pension becomes available at age 66."

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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.