Common use of FOREIGN PENSION TRANSFERS Clause in Contracts

FOREIGN PENSION TRANSFERS. The acceptance of any foreign pension transfer is at the sole discretion of the Trustee. Where the Planholder transfers a foreign pension to an account with the Trustee/Agent, the Planholder is solely responsible for ensuring the transfer qualifies and adheres to any applicable legislation, including the Income Tax Act (Canada). Any amounts transferred may, in accordance with the applicable foreign legislation, be locked-in for a prescribed period of time. The Planholder acknowledges that he/she is solely responsible for any foreign and domestic tax consequences in relation to the transferred amounts. The Planholder is responsible for determining eligibility for these transfers and for consulting with their pension manager and a qualified international tax advisor. In the case of a UK pension transfer, if the Planholder has a ‘relevant transfer fund’ (as defined by HM Revenue & Customs), the Planholder will not be allowed to transfer-in said relevant transfer fund until their 55th birthday.

FOREIGN PENSION TRANSFERS. The acceptance of any foreign pension transfer is at the sole discretion of the Trustee. Where the Planholder transfers a foreign pension to an account with the Trustee/Agent, the Planholder is solely responsible for ensuring the transfer qualifies and adheres to any applicable legislation, including the Income Tax Act (Canada). Any amounts transferred may, in accordance with the applicable foreign legislation, be locked-in for a prescribed period of time. The Planholder acknowledges that he/she is solely responsible for any foreign and domestic tax consequences conse- quences in relation to the transferred amounts. The Planholder is responsible for determining eligibility for these transfers and for consulting with their pension manager and a qualified international tax advisor. In the case of a UK pension transfer, if the Planholder has a ‘relevant transfer fund’ (as defined by HM Revenue & Customs), the Planholder will not be allowed to transfer-in said relevant transfer fund until their 55th birthday.

FOREIGN PENSION TRANSFERS. The acceptance of any foreign pension transfer is at the sole discretion of the Trustee. Where the Planholder transfers a foreign pension to an account with the Trustee/Agent, the Planholder is solely responsible for ensuring the transfer qualifies and adheres to any applicable legislationlegisla- tion, including the Income Tax Act (Canada). Any amounts transferred may, in accordance with the applicable appli- cable foreign legislation, be locked-in for a prescribed period of time. The Planholder acknowledges that he/she is solely responsible for any foreign and domestic tax consequences conse- quences in relation to the transferred amounts. The Planholder is responsible for determining eligibility for these transfers and for consulting with their pension manager and a qualified international tax advisor. In the case of a UK pension transfer, if the Planholder has a ‘relevant transfer fund’ (as defined by HM Revenue & Customs), the Planholder will not be allowed to transfer-transfer in said relevant transfer fund until their 55th birthday.

FOREIGN PENSION TRANSFERS. The acceptance of any foreign pension transfer is at the sole discretion of the Trustee. Where the Planholder transfers a foreign pension to an account with the Trustee/Agent, the Planholder is solely responsible for ensuring the transfer qualifies and adheres to any applicable legislation, including the Income Tax Act (Canada). Any amounts transferred may, in accordance with the applicable foreign legislation, be locked-in for a prescribed period of time. The Planholder acknowledges that he/she is solely responsible for any foreign and domestic tax consequences in relation to the transferred amounts. The Planholder is responsible for determining eligibility for these transfers and for consulting with their pension manager and a qualified international tax advisortaxadvisor. In the case of a UK pension transfer, if the Planholder has a ‘relevant transfer fund’ (as defined by HM Revenue & Customs), the Planholder will not be allowed to transfer-in said relevant transfer fund until their 55th birthday.