Manulife PensionBuilder (between April 30, 2012 and October 25, 2013)

  • Product Name

    Manulife PensionBuilder

  • Description

    For contracts opened on or after April 30, 2012 to October 25, 2013

  • Product type

    Segregated Fund Contract

  • Original Company

    Manulife


Product snapshot

Fund minimum

$500 minimum per fund per sales charge option

$100,000 minumum per fund for Elite Pricing¹

Subsequent deposits

$500 minimum per fund

PAC deposits

No new PACs can be established

Existing PAC arrangements cannot be increased

Minimum $50 per fund per sales charge option

Maximum deposit

Contact head office for deposits that will cause the market value to be greater than $1,000,000

Withdrawals²

Ad hoc: Minimum $500 per fund

Scheduled: Minimum $100 a month per fund

Switches

N/A

Age Limits

Contract Types

Latest Age to Deposit*

Latest Age to Own*

Non-registered, TFSA, LIF, RRIF, LRIF, PRIF, RLIF

90 (for Front-end, Low-load and F-class sales charge options in Non-registered and TFSA Contracts only)

80 (for Back-end sales charge option in Non-registered and TFSA Contracts and all sales charge options in the Registered Contracts listed)

100

RRSP, RLSP, LIRA

71**

71**

LIF (pension jurisdictions requiring annuitization at age 80)

71

80

Income Benefit Payout Percentage

Age***

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

Single Life Payout Option (%)

3.00

3.10

3.20

3.30

3.40

3.50

3.60

3.70

3.80

3.90

4.00

4.10

4.20

4.30

4.40

4.50

4.60

4.70

4.80

4.90

5.00

5.10

5.20

5.30

5.40

5.50

5.60

5.70

5.80

5.90

6.00

Joint Life Payout Option (%)

2.50

2.60

2.70

2.80

2.90

3.00

3.10

3.20

3.30

3.40

3.50

3.60

3.70

3.80

3.90

4.00

4.10

4.20

4.30

4.40

4.50

4.60

4.70

4.80

4.90

5.00

5.10

5.20

5.30

5.40

5.50

Fund Details

Fund Codes

Advisor Class

F-Class¹

Elite Pricing²

Manulife PensionBuilder Fund

BE

LL

FF

 

BE

LL

FE

MPP8425

MPP8525

MPP8325

MPP6125

MPP9425

MPP9525

MPP8725

Income Bonus Percentage

5%

*All dates are as of December 31 of the annuitant's age or older of the annuitant and Joint Life's age, if applicable, except RRSP, RLSP, LIRA and LIF (in pension jurisdictions requiring annuitization at age 80) where all dates are as of December 31 of the annuitant's age.

**Or latest age to own under the Income Tax Act (Canada).

***Age of annuitant, or younger of annuitant and Joint Life (if applicable) as of December 31st in the year of election. Election of the Income Benefit cannot be deferred past age 72 of the annuitant for RRIF, LIF and other retirement income contracts. This age restriction may not apply to contracts held in an External RRIF (including LIF/LRIF/PRIF/RLIF).

1 F-class is only available for fee-based programs where contracts are held in Nominee or Intermediary Name. 2 Elite pricing deposits of $1,000,000 or more receive a reduced MER. Minimum investment amounts for Elite pricing can be met in combining investments in certain situations. Please contact the Manulife Investments Customer Service Centre for these requests; all provinces 1 888 790 4387, Quebec 1 800 355 6776.


Features

Death guarantee

75% of deposit value or current market value, reduced proportionally by withdrawals

Maturity guarantee

75% of deposit value or current market value, reduced proportionally by withdrawals

Payout guarantee

N/A

Income guarantee

Income Benefit Guarantee

Provides a dependable stream of guaranteed income for life, starting as early as age 50

May increase for additional deposits or through Income Bonuses

Annual Income Benefit Payout Percentage

The percentage used to calculate the Annual Income Benefit at the time of election, depending on the age when the decision to take income is made

Income Bonus⁴

Increase to the Benefit Base in each year that no withdrawals are taken. Available for the life of the contract

Increase is equal to 5% of the Bonus Base

Income Bonuses are not cash deposits; they increase the basis for calculating guaranteed income

Annual Income Benefit Options

Single Life Payout Option

  • Available as early as January 1 of the year the annuitant turns age 50

Joint Life Payout Option

  • Based on the lives of the annuitant and his/her spouse⁵
  • Available as early as January 1 of the year the younger spouse⁵ turns age 50

Ability to bypass estate costs

Yes

Potential for creditor protection

Yes

Waiving redemption fees upon death

Yes

Ability to name a successor annuitant

No

Ability to name successor owner³

Non-Registered contracts only

Joint Life Option

Yes


Fees

Management Expense Ratio (MER)

The MER includes all management fees, operating expenses and insurance fees. For more details visit Price and Performance.

Sales Charge Options

A sales charge option may be paid at the time of deposit or on a deferred basis depending on the load option chosen.

Refer to Sales Charge Options section for more information.

Other Fees

A Small Policy Fee may apply if your Benefit Base balance is below the initial Deposit minimum listed in this document.

Charges may apply for certain transactions including withdrawals

For additional detail, refer to the Information Folder and Contract documentation.

Load Options

Back-end, Back-end Elite, Low-load, Low-load Elite, Front-end, Front-end Elite and F-class

Sales Charge Options %

Redemption Fees made during the first 7 years following the date of deposit

Year

Back-end & Back-end Elite

Low-load & Low-load Elite

Front-end, Front-end Elite & F-class

Year 1

5.50

2.50

N/A

Year 2

5.00

2.00

Year 3

5.00

1.50

Year 4

4.00

0.00

Year 5

4.00

0.00

Year 6

3.00

0.00

Year 7

2.00

0.00

Year 8 and subsequent years

0.00

0.00

Note: There may be an additional 2% fee charged if the client takes an unscheduled withdrawal from Manulife PensionBuilder within one year of a deposit.


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Related materials

1 Elite Pricing deposits of $1,000,000 or more receive a reduced MER. Minimum investment amounts for Elite Pricing can be met by combining investments in certain situations. 2 Withdrawals may result in tax consequences. 3 In the province of Quebec, a successor owner is known as a subrogated policyholder. 4 Does not include any promotional Income Bonus rate that may be offered. 5 The Joint Life must be the spouse or common-law partner (as defined in the Income Tax Act (Canada)) of the annuitant. Once named, the Joint Life cannot be changed.

The Manufacturers Life Insurance Company (Manulife) is the issuer of insurance contracts containing Manulife segregated funds and the guarantor of any guarantee provisions therein.

This is a quick reference guide only. For full contract provisions, refer to the product’s Information Folder, Contract & Fund Facts.