Common use of Calculation of Accumulated Loyalty Bonus Clause in Contracts

Calculation of Accumulated Loyalty Bonus. (a) Effective August 25, 2016, up to August 31st of the year the Benefciary turns 18 years of age, the Manager will calculate, at the end of each calendar month, an Accumulating Loyalty Bonus on behalf of the Plan based on a percentage of the Net Contributions in the Plan at the beginning of the month, less any Contribution Refunds made and Fees levied during the month. The percentage used for the calculation of the Accumulating Loyalty Bonus will be no less than two thirds of one per cent (0.66%) per year.

Calculation of Accumulated Loyalty Bonus. (a) Effective August 25, 2016, up to August 31st of the year the Benefciary Beneficiary turns 18 years of age, the Manager will calculate, at the end of each calendar month, an Accumulating Loyalty Bonus on behalf of the Plan based on a percentage of the Net Contributions in the Plan at the beginning of the month, less any Contribution Refunds made and Fees levied during the month. The percentage used for the calculation of the Accumulating Loyalty Bonus will be no less than two thirds of one per cent (0.66%) per year.