Frequently Asked Questions
FAQ
What is a Market Value Adjustment?A Market Value Adjustment (MVA) is an adjustment applied to guaranteed interest investments based on changes in interest rates that have occurred since an investment was purchased. For example: A $1,000 5-Year Guaranteed Interest Account (GIA) pays a 5% interest rate and has 2 years left until maturity. The book value of the account is currently $1,157. If left until maturity it will grow to a total of $1,276. If interest rates today are at 6% and you cash in your investment, its Market Value would be $1,136 -- an adjustment of -$21.74. This is because, if you then invested this $1,136 today in a 5-year deposit at the current 6%, its book value would be $1,276* in 2 years -- exactly the same dollar amount you would have if you made no withdrawal and subsequent reinvestment at all. *Note that you would not have direct access to the book value in 2 years as any withdrawal prior to the maturity (after 5 years) of the new investment would also be calculated at market value. The book value can only be accessed if the GIA is held to maturity. How can I see my investment transactions onlineLink to site tutorial How do I order duplicate tax receipts and slips?Link to site tutorial What happens when I leave my employer or retire?Whether you are changing jobs or retiring, leaving your employer means you'll need to make important decisions about the money in your group retirement plan. Let Manulife's Transition Solutions Team help you make simple, yet smart choices. Manulife's Transition Specialists are dedicated to helping plan members assess their options for their group retirement savings program when leaving their employer or retiring. These Specialists provide guidance on all the options available so you can make an informed decision about the transition of your retirement savings. Transition Specialists are bilingual, knowledgeable staff, who have completed the Canadian Securities Course or Canadian Investment Funds (CIFC) course and are licensed to sell life insurance. The Transition Solutions Team can also assist you with:
Call us toll-free at 1-866-991-3056 to help make your transition a smooth one. |