Fees charged to the Contract Owner
Fee Option A
- No sales or surrender/withdrawn charges
Fee Option B
The low load sales charge fee option (fee option B) is no longer offered starting November 28, 2022 except for switches of Units that were under fee option B when the fee option ceased to be offered. For these Units, the withdrawal fees indicated below continue to apply until expiry of the withdrawal schedule from the dates of the deposits.
| Low Load Sales Charges | Rate3 |
|---|
| In calendar year 1 | 3.0% |
| In calendar year 2 | 2.5% |
| In calendar year 3 | 2.0% |
| Thereafter | 0.0% |
Fee Option C
The deferred sales charge fee option (fee option C) is no longer offered starting November 28, 2022 except for switches of Units that were under fee option C when the fee option ceased to be offered. For these Units, the withdrawal fees indicated below continue to apply until expiry of the withdrawal schedule from the dates of the deposits.
| Deferred surrender/withdrawn charges, 7 years | Rate3 |
|---|
| In calendar year 1 | 5.5% |
| In calendar year 2 | 5.0% |
| In calendar year 3 | 5.0% |
| In calendar year 4 | 4.0% |
| In calendar year 5 | 4.0% |
| In calendar year 6 | 3.0% |
| In calendar year 7 | 2.0% |
| Thereafter | 0.0% |
3 These charges are based on the net asset value per Unit as at the time of surrender/withdrawal for the units being surrendered/withdrawn.
Option D: No fees – Chargeback of the first-year commission if a surrender/withdraw occurs within 36 months of the deposit
| Month | Chargeback rate | Month | Chargeback rate |
|---|
| 1 | 100.0% | 20 | 47.2% |
| 2 | 97.2% | 21 | 44.4% |
| 3 | 94.4% | 22 | 41.7% |
| 4 | 91.7% | 23 | 38.9% |
| 5 | 88.9% | 24 | 36.1% |
| 6 | 86.1% | 25 | 33.3% |
| 7 | 83.3% | 26 | 30.6% |
| 8 | 80.6% | 27 | 27.8% |
| 9 | 77.8% | 28 | 25.0% |
| 10 | 75.0% | 29 | 22.2% |
| 11 | 72.2% | 30 | 19.4% |
| 12 | 69.4% | 31 | 16.7% |
| 13 | 66.7% | 32 | 13.9% |
| 14 | 63.9% | 33 | 11.1% |
| 15 | 61.1% | 34 | 8.3% |
| 16 | 58.3% | 35 | 5.6% |
| 17 | 55.6% | 36 | 2.8% |
| 18 | 52.8% | 37+ | 0.0% |
| 19 | 50.0% | | |
Option E: No fees – Chargeback of the first-year commission if a surrender/withdraw occurs within 60 months of the deposit
| Month | Chargeback rate | Month | Chargeback rate | Month | Chargeback rate |
|---|
| 1 | 100.0% | 22 | 65.0% | 43 | 30.0% |
| 2 | 98.3% | 23 | 63.3% | 44 | 28.3% |
| 3 | 96.7% | 24 | 61.7% | 45 | 26.7% |
| 4 | 95.0% | 25 | 60.0% | 46 | 25.0% |
| 5 | 93.3% | 26 | 58.3% | 47 | 23.3% |
| 6 | 91.7% | 27 | 56.7% | 48 | 21.7% |
| 7 | 90.0% | 28 | 55.0% | 49 | 20.0% |
| 8 | 88.3% | 29 | 53.3% | 50 | 18.3% |
| 9 | 86.7% | 30 | 51.7% | 51 | 16.7% |
| 10 | 85.0% | 31 | 50.0% | 52 | 15.0% |
| 11 | 83.3% | 32 | 48.3% | 53 | 13.3% |
| 12 | 81.7% | 33 | 46.7% | 54 | 11.7% |
| 13 | 80.0% | 34 | 45.0% | 55 | 10.0% |
| 14 | 78.3% | 35 | 43.3% | 56 | 8.3% |
| 15 | 76.7% | 36 | 41.7% | 57 | 6.7% |
| 16 | 75.0% | 37 | 40.0% | 58 | 5.0% |
| 17 | 73.3% | 38 | 38.3% | 59 | 3.3% |
| 18 | 71.7% | 39 | 36.7% | 60 | 1.7% |
| 19 | 70.0% | 40 | 35.0% | 61+ | 0.0% |
| 20 | 68.3% | 41 | 33.3% | | |
| 21 | 66.7% | 42 | 31.7% | | |
Fee Option F (Advisor Service Fee)
No sales charges or withdrawal fees to pay. You, and the distributor you do business with, do not receive any sales commission or trailing commission. Instead, you determine with your client the fees they will pay you and your distributor for your services and advice and the way these fees will be paid. Since we do not pay a trailing commission to you and your distributor under this fee option, Series 6F or 8F apply to your client’s Units and their MER is lower.
This option is only available if the contract is held externally in an intermediary or nominee account.
Change of fee option
Once the deposit has been made, it is no longer possible to change the chosen fee option, except to go from Fee Option A to Fee Option F or from Fee Option F to Fee Option A (your client will not have to pay any fees for such a change and the amount of their guaranteed minimum benefits will not be decreased). But your client can choose a different option for future deposits.
