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
Joint life income option²
|
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) |
For more details visit Price and Performance. |
|||
|---|---|---|---|---|
Sales Charge Options (Premium Allocation Options) |
|
|||
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
Advisor 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.