Manulife PensionBuilder (For contracts opened on or after October 28, 2013)

  • Product Name

    Manulife PensionBuilder (For contracts opened on or after October 28, 2013)

  • Description

    This PensionBuilder Contract is no longer available for new sales effective October 28, 2022, unless it is a sale resulting from a transfer from an existing PensionBuilder Contract.

  • Product type

    Segregated Fund Contract

  • Original line of business

    Manulife


Product snapshot

Subsequent deposits

Closed to additional deposits since October 2022

PAC deposits

No new PACs can be established

Existing PAC arrangements cannot be increased

Existing PAC can be decreased or reallocated

Withdrawals¹

Ad hoc: Minimum $500 per fund

Scheduled: Minimum $100 a month per fund

Switches¹

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
Deposit income rates Explore our rates

1 Withdrawals and fund switches may result in tax consequences. 

*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).


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

Income guarantee

Single life income option with sex distinct rates

  • Income can start as early as January 1st of the year the annuitant turns age 50

 

Joint life income option²

  • Income is based on the lives of the annuitant and his/her spouse and can start as early as January 1st of the year the younger spouse 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

2 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. 3 In the province of Quebec, a successor owner is known as a subrogated policyholder.


Fees

Management Expense Ratio (MER)

  • The MER includes all management fees, operating expenses and insurance fees.
  • The Unit Value of a Fund is reduced by the MER.

For more details visit Price and Performance.

Sales Charge Options (Premium Allocation Options)

  • You may pay sales charges at the time of deposit or on a deferred basis depending on the option you choose.
  • Deferred sales charges may apply for withdrawals made during the first seven years following the date of deposit for DSC sales charge options
Refer to Sales Charge Options section for more information.

Other Fees

A Small Policy Fee may apply for contracts with greater of the sum of all deposits and market value below the initial deposit minimum.

Charges may apply for certain transactions including withdrawals

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

Load Options

Front-end, Front-end Elite and F-class

Sales Charge Options %

Deferred sales charges 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

Year 5

4.00

0

Year 6

3.00

0

Year 7

2.00

0

Year 8 and subsequent years

0

 0

Notes:

  • Back-end, Back-end Elite, Low-load and Low-load Elite sales charge options no longer allow new deposits, subsequent deposits, new PAC setups and switches in from other sales charges.  Effective May 26, 2023, existing PACs in these sales charge options will move to Front-End or Front-End Elite. Existing investments in back-end or low-load will remain and the existing sales charge schedule will apply to any withdrawals.
  • There may be an additional 2% fee charged if the client takes an unscheduled withdrawal from Manulife PensionBuilder within one year of a deposit.

Explore our segregated funds


Related materials

Important disclosure

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.