Manulife RetirementPlus

  • Product Name

    Manulife RetirementPlus

  • Description

    Closed to new contract sales and subsequent deposits effective October 28, 2022

  • Product type

    Segregated Fund Contract

  • Original line of business


Product snapshot

Overview Savings phase

The first phase of the investment in which clients can build savings through:

  • The growth potential of the markets
  • Accumulating income credits


Income credits:

  • Accumulate in the savings phase only
  • Are calculated using the 10 year Canada Benchmark Bond Yield, plus a .50 per cent rate enhancement
  • Are calculated based on the month‑end market value of the savings phase
  • Are not cashable, but instead enhance future guaranteed income in the income phase
  • Are proportionally reduced for withdrawals from the savings phase
  • The process of moving market value and accumulated income credits from the savings phase into the preservation or income phases
  • Involves a fund switch from funds in the savings phase to the guaranteed income fund
  • Transitioning secures a set of transition income rates (income rates) applicable to current and future income ages; these rates determine the future guaranteed income for the amount transitioned
  • Transitioning is a taxable disposition for non‑registered contracts
Preservation phase 

The second phase of the investment in which:

  • Clients can establish their future guaranteed income by choosing to transition all or part of their market value, plus proportional accumulated income credits
  • Clients can defer taking income, which also increases the value of their future guaranteed income
Election of income
  • The act of turning on guaranteed lifetime income by electing an eligible total income amount
  • Once income is elected, clients leave the preservation phase and enter the income phase
  Income phase

The final phase of the investment in which:

  • Clients elect to receive a guaranteed income stream for life, starting as early as age 50, based on their current income age and the corresponding income rate(s) established at the time of transitioning
  • Subsequent transitions from the savings phase automatically increase the guaranteed income amount at the then current income rate(s)

Fund minimum

  • $500 minimum per fund per sales charge option
  • $2,000 minimum for Manulife RetirementPlus Dollar‑Cost Averaging (DCA) Program fund
  • $100,000 minimum per fund for Elite Pricing

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

Minimum $50 per fund


Minimum $500 unscheduled or $100/month scheduled


Five free fund switches per calendar year

Minimum $500 per Fund or $100/month

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)





LIF (pension jurisdictions requiring annuitization at age 80)



1 Withdrawals and fund switches may result in tax consequences. 2 At latest age to deposit, PACs will discontinue. 

*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).


Death guarantee

75% of all deposits or current market value, if greater, reduced proportionally by withdrawals

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

  • Guaranteed lifetime income based on one life


Joint life income option³

  • Guaranteed lifetime income based on two lives
Reset No

Ability to bypass estate costs


Potential for creditor protection


Waiving redemption fees upon death


Ability to name successor owner⁴


Joint Life Option


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.


Management Expense Ratio (MER)

  • MERs vary by Fund and include 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)

  • 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 %

The deferred sales charge schedule carries over from each fund in the savings phase to the Guaranteed Income fund upon transition.

Fund Category


BE and BE Elite 

LL and LL Elite

Money Market Fund

All years



All other Funds

Year 1




Year 2




Year 3




Year 4




Year 5




Year 6




Year 7


    Year 8 0.00%  


  • All funds are available in fully negotiable front end load (FEL) versions
  • 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.

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.