Retirement Advantage for advisers
Canada Life announces agreement to acquire Retirement Advantage
Canada Life has announced to markets an agreement to acquire Retirement Advantage, a move that will further strengthen and broaden their position in the UK market particularly in annuities, income drawdown and equity release.
This acquisition is a positive endorsement of the business plan we adopted following the pension reforms announced in 2014. This strategy transformed our business and drove the creation of market leading retirement solutions with the successful launch of the Retirement Account and a growing range of equity release products. This deal will provide greater protection for our customers as part of a much bigger group.
Canada Life began operations in the United Kingdom in 1903 and looks after the retirement, investment and protection needs of individuals and companies. The company offers protection, life cover, critical illness cover, and whole of life cover for groups and individuals; and retirement income planning, annuities, pension bonds, savings and investments, investment bonds, inheritance tax planning, and offshore investments. Canada Life is part of a group of companies owned by Great-West Lifeco Inc’. Great-West Lifeco and its companies have over C$1.3 trillion in consolidated assets under administration as of June 30, 2017.
Although this is a very exciting time for Retirement Advantage, right now, it is very much business as usual. You will continue to receive the same level of support and we will continue to actively engage with you to promote our Guaranteed Annuity, Retirement Account and Equity Release propositions. The deal is subject to regulatory approval, which is expected to take 3-6 months.
About Retirement Advantage
At Retirement Advantage we're committed to helping you and your clients, whether they're approaching retirement or already retired. You can be sure of our commitment because we offer our products solely through professional advisers.
We are proud of our 150 year heritage, but equally well-known for our innovation and bright ideas, which you will see in our award-winning retirement income and lifetime mortgage products, and our 5 star rated customer and adviser service.
At Retirement Advantage we believe that flexibility is key. So we created The Retirement Account: A unique three-way drawdown solution in a single tax-advantaged wrapper offering:
- a governed fund range especially designed for clients in drawdown
- the Protected Index Portfolio fund, with capital protection at 80%
- optional guaranteed income available via an annuity within the drawdown wrapper
It’s affordable, easy to manage, and it gives your clients access to a range of features which can help protect them from pension drawdown’s pitfalls - Find out more
Get a quote and manage your clients’ accounts online:
Our range of lifetime mortgages can be tailored to meet your client's individual needs. For example, you can choose to make payments, add a cash reserve facility or take advantage of our Inheritance Guarantee.
You can find out more about our range of products, and how they can be the right solution for your client, here.
Generate a quote and submit an online application
To generate a quote for your client, simply visit our online Key Facts Illustration (KFI) Generator. Here you can create KFIs, download Offer Letters and view your client's Valuation Report.
You can also use the KFI Generator to submit applications to us online.
Important note: The Flexible Income Annuity is now closed to new business - FInd out more