Common use of Financial Difficulties Clause in Contracts

Financial Difficulties. The Annuitant may withdraw from the Account an amount up to the lesser of the amount determined by the following Formula and 50% of the Year’s Maximum Pensionable Earnings minus any amount withdrawn in the calendar year under this paragraph from any locked-in registered retirement savings plan, or under paragraph 20.1(1)(m), 20.2(1)(e) or 20.3(1)(m) of the Regulation, if the following conditions are met, (i) the Annuitant certifies that he has not made a withdrawal in the calendar year under this paragraph from any locked-in registered retirement savings plan, or under paragraph 20.1(1)(m), 20.2(1)(e) or 20.3(1)(m) of the Regulation, other than within the last 30 days before this certification, (ii) in the event that the value of M in the following Formula is greater than zero, (A) the Annuitant certifies that the he expects to make expenditures on medical or disability-related treatment or adaptive technology for the calendar year in excess of 20% of the Annuitant’s total expected income for that calendar year determined in accordance with the Income Tax Act, excluding withdrawals in the calendar year under this paragraph from any locked-in registered retirement savings plan, or under paragraph 20.1(1)(m), 20.2(1)(e) or 20.3(1)(m) of the Regulation, and (B) a physician certifies that such medical or disability-related treatment or adaptive technology is required, and (iii) the Annuitant gives to the Trustee a copy of Form 1 and Form 2 of Schedule V of the Regulation. where M is the total amount of the expenditures that the Annuitant expects to make on medical or disability-related treatment or adaptive technology for the calendar year, and N is the greater of zero and the amount determined by the following formula: where P is 50% of the Year’s Maximum Pensionable Earnings, and Q is two thirds of the Annuitant’s total expected income for the calendar year determined in accordance with the Income Tax Act, excluding withdrawals in the calendar year under paragraph 20(1)(d), 20.1(1)(m), 20.2(1)(e) or 20.3(1)(m) of the Regulation.

Financial Difficulties. The Annuitant may withdraw from the Account an amount up to the lesser of the amount determined by the following Formula set out below and 50% of the Year’s Maximum Pensionable Earnings minus any amount withdrawn in the calendar year under this paragraph from any lockedRestricted Locked-in registered retirement savings plan, RRSP or under paragraph 20.1(1)(m20(1)(d), 20.2(1)(e20.1(1)(m) or 20.3(1)(m) of the Regulation, if the following conditions are met, (i) the Annuitant certifies that the he has not made a withdrawal in the calendar year under this paragraph from any lockedRestricted Locked-in registered retirement savings plan, RRSP or under paragraph 20.1(1)(m20(1)(d), 20.2(1)(e20.1(1)(m) or 20.3(1)(m) of the Regulation, Regulation other than within the last 30 days before this certification, (, ii) in the event that the value of M in of the following Formula set out below is greater than zero, (A) the Annuitant certifies that the he expects to make expenditures on medical or on disability-related treatment or adaptive technology for the calendar year in excess of 20% of the Annuitant’s total expected income for that calendar year determined deter mined in accordance with the Income Tax Act, excluding withdrawals in the calendar year under this paragraph from any lockedRestricted Locked-in registered retirement savings plan, RRSP or under paragraph 20.1(1)(m20(1)(d), 20.2(1)(e20.1(1)(m) or 20.3(1)(m) of the Regulation, and (B) a physician certifies that such medical or disability-related treatment or adaptive technology is required, and (and iii) the Annuitant gives to the Trustee a copy of Form 1 and Form 2 of Schedule V of the Regulation. where M is the total amount of the expenditures that the Annuitant expects to make on medical or disability-related treatment or adaptive technology for the calendar year, and N is the greater of zero and the amount determined by the following formula: where P is 50% of the Year’s Maximum Pensionable Earnings, and Q is two thirds of the Annuitant’s total expected income for the calendar year determined in accordance with the Income Tax Act, excluding withdrawals in the calendar year under paragraph 20(1)(d), 20.1(1)(m), 20.2(1)(e) or 20.3(1)(m) of the Regulation.

Financial Difficulties. The Annuitant may withdraw an amount from the Account an amount Fund up to the lesser of the amount determined by the following Formula set out below and 50% of the Year’s Maximum Pensionable Earnings minus any amount withdrawn in the calendar year under this paragraph from any locked-in registered retirement savings plan, Restricted LIF or under paragraph 20.1(1)(m20(1)(d), 20.2(1)(e20.1(1)(m) or 20.3(1)(m20.2 (1)(e) of the Regulation, Regulation if the following conditions are met, (i) the Annuitant certifies that the he has not made a withdrawal in the calendar year under this paragraph from any locked-in registered retirement savings plan, Restricted LIF or under paragraph 20.1(1)(m20(1)(d), 20.2(1)(e20.1(1)(m) or 20.3(1)(m20.2(1)(e) of the Regulation, Regulation other than within the last 30 days before this certification, (, ii) in the event that the value of M in of the following Formula set out below is greater than zero, (A) the Annuitant certifies that the he expects to make expenditures on medical or disability-related treatment or adaptive technology for the calendar year in excess of 20% of the Annuitant’s total expected income for that calendar year determined in accordance with the Income Tax Act, excluding withdrawals in the calendar year under this paragraph from any locked-in registered retirement savings plan, Restricted LIF or under paragraph 20.1(1)(m20(1)(d), 20.2(1)(e20.1(1)(m) or 20.3(1)(m20.2(1)(e) of the Regulation, and (and B) a physician certifies that such medical or disability-related treatment or adaptive technology is required, and (and iii) if the Annuitant gives to the Trustee a copy of Form 1 and Form 2 of Schedule V of the RegulationRegulation to the Trustee. where M is the total amount of the expenditures that the Annuitant expects to make on medical or disability-related treatment or adaptive technology for the calendar year, and N is the greater of zero and the amount determined by the following formula: where P is 50% of the Year’s Maximum Pensionable Earnings, and Q is two thirds of the Annuitant’s total expected income for the calendar year determined in accordance with the Income Tax Act, excluding withdrawals in the calendar year under paragraph 20(1)(d), 20.1(1)(m), 20.2(1)(e) or 20.3(1)(m) of the Regulation.

Financial Difficulties. The Annuitant may withdraw an amount from the Account an amount Fund up to the lesser of the amount determined by the following Formula set out below and 50% of the Year’s Maximum Pensionable Earnings minus any amount withdrawn in the calendar year from any Restricted LIF under this paragraph from any locked-in registered retirement savings plan, or under paragraph 20.1(1)(m20(1)d ), 20.2(1)(e20.1(1)m) or 20.3(1)(m20.2(1)e) of the Regulation, Regulation if the following conditions are met,: (i) the Annuitant certifies that he or she has not made a withdrawal in the calendar year from any Restricted LIF under this paragraph from any locked-in registered retirement savings plan, or under paragraph 20.1(1)(m20(1)d), 20.2(1)(e20.1(1)m) or 20.3(1)(m20.2(1)e) of the Regulation, other than within the last 30 days before this certification, (ii) in the event that the value of M in of the following Formula set out below is greater than zero, (A) the Annuitant certifies that the he or she expects to make expenditures on medical or disability-related treatment or adaptive technology for the calendar year in excess of 20% of the Annuitant’s total expected income for that calendar year determined in accordance with the Income Tax Act, excluding withdrawals in the calendar year from any Restricted LIF under this paragraph from any locked-in registered retirement savings plan, or under paragraph 20.1(1)(m20(1)d ), 20.2(1)(e20.1(1)m) or 20.3(1)(m20.2(1)e) of the Regulation, and (B) a physician certifies that such medical or disability-related treatment or adaptive technology is required, and (iii) the Annuitant gives to the Trustee a copy of Form 1 and Form 2 of Schedule V of the RegulationRegulation to the Trustee. where M is the total amount of the expenditures that the Annuitant expects to make on medical or disability-related treatment or adaptive technology for the calendar year, and N is the greater of zero and the amount determined by the following formula: where P is 50% of the Year’s Maximum Pensionable Earnings, and Q is two thirds of the Annuitant’s total expected income for the calendar year determined in accordance with the Income Tax Act, excluding withdrawals in the calendar year under paragraph 20(1)(d20(1)d), 20.1(1)(m20.1(1)m), 20.2(1)(e20.2(1)e) or 20.3(1)(m20.3(1)m) of the Regulation.