Helios2 Contract: confirmation of 2019 GLWB Bonus Rate

Intermediary Network Sales Support and Expertise December 11, 2019

The GLWB Bonus Rate, which will apply on December 31, 2019, will be the rate obtained by applying the following formula: the 10-year Government of Canada benchmark bond yield (CANSIM Identifier V39055) as at the last business day of November of the current calendar year, plus 1.5%. This rate is subject to a minimum of 2.5% and a maximum of 8%.

The benchmark rate as at November 29 was 1.46%. With the 1.5% added to this rate, the GLWB Bonus Rate for clients who had an existing Contract that was purchased prior to 2019 and made no withdrawals in 2019, will be 2.96%.

Reminder: Clients who opened a Contract in 2019 and didn’t make any withdrawals, will be entitled to the First-year GLWB Bonus Rate of 6%.

Intermediary Network Sales Support and Expertise