Here are the typical options available for your plan:
Keep your assets in your current
group plan
- Keep your current investments
- Keep access to the VIP Room
Cash out
Only the non locked-in portion is eligible to cash out.
Contact one of our specialists to find out how (1 800 242-1704)
Transfer your assets to other financial institutions or individual product
- For locked-in assets, you need to complete a T2151 form available on the CRA web site.
- For non locked-in assets, you need to complete a T2033 form available on the CRA web site.
What happens if I don't provide instructions?
Assets will stay in your current plan.You have 60 or 90 days (depending on provincial legislation) to provide instructions.
Cashing out, less applicable taxes, is made either by cheque or by direct deposit into your bank account, if we have banking information on file. Cashing out can trigger a gain or a loss, depending on daily market fluctuations.
Keeping your assets in your employer’s current group pension plan doesn’t mean that the terms that apply to your assets will be the same. We recommend that you speak to your plan administrator or to one of our specialists before choosing this option.
Stocks are not available under The Advantage Program. At the time of transfer, assets are cashed out and reinvested in market related funds offered under The Advantage Program, unless otherwise specified under the terms of your plan.
Other options might be available to you depending on the legislation in your province. One of our specialists will be pleased to give you information about other alternatives.
Investment Management Fees (IMFs) and features may vary depending on the amount to be invested, the fund(s) selected and the type of product chosen. For example, retail segregated fund policies offer a minimum principal guarantee in case of death or at maturity. This is not available under a group plan. It is recommended that you compare product fees and features before making a decision. Manulife reserves the right to change, terminate or convert The Advantage Program and to correct any error or omission occurring in this page.