Helios2 Contract: Confirmation of 2020 GLWB bonus rate

Intermediary Network Sales Support and Expertise Decembre 7, 2020

The GLWB bonus rate, which will apply on December 31, 2020, will be the rate calculated using 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 30 was 0.67%. With the 1.5% added to this rate, the rate will be 2.17%. The GLWB Bonus Rate for clients who did not make any withdrawals in 2020 will be 2.50%, which is the minimum rate specified in the contract.

Intermediary Network Sales Support and Expertise