Manulife PensionBuilder (prior to April 29, 2012)
Product Name
Manulife PensionBuilder
Description
For contracts opened between October 11, 2011 and April 29, 2012
Product type
Segregated Fund Contract
Original Company
Manulife
Product snapshot
Subsequent deposits |
Closed to new deposits. |
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PAC deposits |
No new PACs can be established Existing PAC arrangements cannot be increased |
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Withdrawals² |
Ad hoc: Minimum $500 per fund Scheduled: Minimum $100 a month per fund |
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Switches |
N/A |
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Age Limits |
Contract Types |
Latest Age to Deposit* |
Latest Age to Own* |
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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 |
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RRSP, RLSP, LIRA |
71** |
71** |
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LIF (pension jurisdictions requiring annuitization at age 80) |
71 |
80 |
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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 (%) |
3.75 |
3.85 |
3.95 |
4.05 |
4.15 |
4.25 |
4.35 |
4.45 |
4.55 |
4.65 |
4.75 |
4.85 |
4.95 |
5.05 |
5.15 |
5.25 |
5.35 |
5.45 |
5.55 |
5.65 |
5.75 |
5.85 |
6.00 |
6.05 |
6.15 |
6.25 |
6.35 |
6.45 |
6.55 |
6.65 |
6.75 |
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Joint Life Payout Option (%) |
3.25 |
3.35 |
3.45 |
3.55 |
3.65 |
3.75 |
3.85 |
3.95 |
4.05 |
4.15 |
4.25 |
4.35 |
4.45 |
4.55 |
4.65 |
4.75 |
4.85 |
4.95 |
5.05 |
5.15 |
5.25 |
5.35 |
5.50 |
5.55 |
5.65 |
5.75 |
5.85 |
5.95 |
6.05 |
6.15 |
6.25 |
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Fund Details |
Fund Codes |
Advisor Class |
F-Class¹ |
Elite Pricing² |
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Manulife PensionBuilder Fund |
BE |
LL |
FE |
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BE |
LL |
FE |
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MPP8424 |
MPP8524 |
MPP8324 |
MPP6124 |
MPP9424 |
MPP9524 |
MPP8724 |
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Income Bonus Percentage |
5% |
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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).
***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 |
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Maturity guarantee |
75% of deposit value or current market value, reduced proportionally by withdrawals
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Payout guarantee |
N/A |
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
Joint Life Payout Option
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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 owner² |
Non-Registered contracts only |
Joint Life Option |
Yes |
Fees
Management Expense Ratio (MER) |
The MER includes all management fees, operating expenses and insurance fees |
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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. |
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Load Options |
Front-end, Front-end Elite and F-class |
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Sales Charge Options % |
Deferred sales charges made during the first 7 years following the date of deposit |
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Year 1 |
5.50 |
2.50 |
N/A |
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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 |
0.00 |
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Year 6 |
3.00 |
0.00 |
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Year 7 |
2.00 |
0.00 |
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Year 8 and subsequent years |
0.00 |
0.00 |
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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.
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Important disclosure
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.