Add rice and water to a large saucepan and place over high heat. Bring to the boil then immediately lower heat to medium low. Allow to simmer uncovered very slowly stirring occasionally until most of the water has been absorbed and the rice is soft; about 30 minutes.
Add 500ml milk and sugar. Raise heat to high. While the mixture comes to the boil mix together 125ml of milk with cornflour.
Once rice and milk mixture boils add the cornflour mixture along with vanilla essence. Stir well to combine. Remove from heat.
Ladle rice pudding into individual serving dishes such as ramekins. Sprinkle with cinnamon. Allow to cool to room temperature then chill in the fridge for at least four hours or until cold.
To make Gluten Free, select a Gluten Free Cornflour. Some brands have wheat in it. Always read the ingredients list for allergy information.