Manulife RetirementPlus®
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Product Name
Manulife RetirementPlus®
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Description
This RetirementPlus Contract is no longer available for new sales effective October 28, 2022, unless it is a sale resulting from a transfer from an existing RetirementPlus Contract.
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Product type
Segregated Fund Contract
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Original line of business
Manulife
Product snapshot
Overview | Savings phase | The first phase of the investment in which clients can build savings through:
Income credits:
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Transition |
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Preservation phase | The second phase of the investment in which:
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Election of income |
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Income phase | The final phase of the investment in which:
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Fund minimum |
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Subsequent deposits |
Closed to additional deposits since October 2022 |
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PAC deposits |
No new PACs can be established Existing PAC arrangements cannot be increased Existing PAC can be decreased or reallocated Minimum $50 per fund per sales charge option |
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Withdrawals¹ |
Minimum $500 unscheduled or $100/month scheduled | ||
Switches¹ |
Five free fund switches per calendar year Minimum $500 per Fund or $100/month |
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Age Limits² |
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 |
Important disclosure
*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 all deposits or current market value, if greater, reduced proportionally by withdrawals |
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Maturity guarantee |
75% of all deposits or current market value, if greater, reduced proportionally by withdrawals |
Income guarantee |
Single life income option with sex distinct rates
Joint life income option³
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Reset | No |
Ability to bypass estate costs |
Yes |
Potential for creditor protection |
Yes |
Waiving redemption fees upon death |
Yes |
Ability to name successor owner⁴ |
Yes |
Joint Life Option |
Yes |
Fees
Management Expense Ratio (MER) |
For more details visit Price and Performance. |
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Sales Charge Options (Premium Allocation Options) |
Refer to Sales Charge Options section for more information. |
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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. |
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Load Options |
Back-end, Back-end Elite, Low-load, Low-load Elite, Front-end, Front-end Elite and F-class |
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Sales Charge Options % |
The deferred sales charge schedule carries over from each fund in the savings phase to the Guaranteed Income fund upon transition. | |||
Fund Category |
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BE and BE Elite |
LL and LL Elite |
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Money Market Fund |
All years |
0.00% |
0.00% |
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All other Funds |
Year 1 |
5.50% |
2.50% | |
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Year 2 |
5.00% |
2.00% | |
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Year 3 |
5.00% |
1.50% | |
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Year 4 |
4.00% |
0.00% | |
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Year 5 |
4.00% |
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Year 6 |
3.00% |
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Year 7 |
2.00% |
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Year 8 | 0.00% |
Notes:
- All funds are available in deferred sales charge (DSC) and fully negotiable front‑end load (FEL) versions
- The money market fund is also available in a no‑load version
Explore our segregated funds
Related materials
Regulatory materials
Advisor Materials
Important disclosure
1 Withdrawals and fund switches may result in tax consequences. 2 At latest age to deposit, PACs will discontinue. 3 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. 4 In the province of Quebec, a successor owner is known as a subrogated policyholder.
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.