Common use of General Points Clause in Contracts

General Points. No contribution invested in the SSQ PRRIF plan may be withdrawn, commuted, surrendered, redeemed, assigned, voluntarily disposed, nor be the object of a waiver of rights, conversion or transfer, other than within the limits permitted under applicable pension legislation and subject to the Income Tax Act (Canada), notably to reduce, where applicable, the amount of tax that would otherwise be payable by the contractholder under this Act. Any transaction purporting to withdraw, surrender, or commute the monies invested will be void, except where an amount is required to be paid to reduce the amount of tax otherwise payable under the Income Tax Act (Canada) and subject to the exceptions provided for under applicable pension legislation or under family law. The redemption or transfer value is established based on the terms of the investment vehicles described in the appendix to this contract and according to the methods and variables described in this same appendix. If the contractholder chooses a redeemable GIA as an investment vehicle for this plan and then requests the payment of an income amount from this GIA or a redemption of this GIA, then redemption fees may apply. If the contractholder chooses a non-redeemable GIA as an investment vehicle for this plan and then requests a redemption of this GIA then SSQ may not process the redemption request unless it proceeds by applying redemption fees at its own discretion. SSQ proceeds with payment in cash within 60 days of receipt of the duly completed request. In the case of a transfer to another financial institution, the time period is 30 days. These time periods are subject to any specific deadlines imposed under applicable pension legislation in accordance with the province, territory or jurisdiction in question. Notwithstanding the redemptions and transfers that may be made according to pension legislation, SSQ keeps the amount required under paragraph 146.3 (2) (e) of the Income Tax Act (Canada) in order to guarantee payment of the minimum income amount during the year. When a redemption or transfer is permitted under applicable pension legislation, the contractholder who would like to carry out such a transaction must submit a written statement in the manner prescribed under this legislation. Any redemption permitted under applicable pension legislation will be paid in a lump sum to the contractholder. SSQ is entitled to rely on the information that you provide it with when you make your redemption or transfer request. SSQ provides you with an acknowledgement of receipt indicating the date of receipt of any document required for a redemption or transfer when required under the terms of applicable pension legislation. Subject to applicable pension legislation and the Income Tax Act (Canada), the contractholder may not request the redemption or transfer of the SSQ PRRIF if the investments have not reached maturity. However, if applicable pension legislation permits the contractholder to request the redemption of the SSQ PRRIF in a case where the contractholder has chosen, as an investment vehicle related to this plan, a non-redeemable GIA, then SSQ shall proceed with the redemption and apply the redemption fees that it determines at its own discretion.

General Points. No contribution invested in the SSQ PRRIF LIRA plan may be withdrawn, commuted, surrendered, redeemed, assigned, voluntarily disposed, nor be the object of a waiver of rights, conversion or transfer, other than within the limits permitted under applicable pension legislation and subject to the Income Tax Act (Canada), notably to reduce, where applicable, the amount of tax that would otherwise be payable by the contractholder under this Act. Any transaction purporting to withdraw, surrender, or commute the monies invested will be void, except where an amount is required to be paid to reduce the amount of tax otherwise payable under the Income Tax Act (Canada) and subject to the exceptions provided for under applicable pension legislation or under family law. The redemption or transfer value is established based on the terms of the investment vehicles described in the appendix to this contract and according to the methods and variables described in this same appendix. If the contractholder chooses a redeemable GIA as an investment vehicle for this plan and then requests the payment of an income amount from this GIA or a redemption of this GIA, then redemption fees may apply. If the contractholder chooses a non-redeemable GIA as an investment vehicle for this plan and then requests a redemption of this GIA then SSQ may not process the redemption request unless it proceeds by applying redemption fees at its own discretion. SSQ proceeds with payment in cash within 60 days of receipt of the duly completed request. In the case of a transfer to another financial institution, the time period is 30 days. These time periods are subject to any specific deadlines imposed under applicable pension legislation in accordance with the province, territory or jurisdiction in question. Notwithstanding the redemptions and transfers that may be made according to pension legislation, SSQ keeps the amount required under paragraph 146.3 (2) (e) of the Income Tax Act (Canada) in order to guarantee payment of the minimum income amount during the year. When a redemption or transfer is permitted under applicable pension legislation, the contractholder who would like to carry out such a transaction must submit a written statement in the manner prescribed under this legislation. Any redemption permitted under applicable pension legislation will be paid in a lump sum to the contractholder. SSQ is entitled to rely on the information that you provide it with when you make your redemption or transfer request. SSQ provides you with an acknowledgement of receipt indicating the date of receipt of any document required for a redemption or transfer when required under the terms of applicable pension legislation. Subject to the redemptions and transfers permitted under applicable pension legislation, the SSQ LIRA is administered like a deferred life annuity until such time as it is transferred to a plan permitted under this legislation. The locked-in contributions subject to transfer must procure or ensure a retirement income when a transfer is required or permitted under applicable pension legislation. If the prescribed conditions are not met, the SSQ LIRA may not be divided into two or more plans or annuities for the purpose of rendering it eligible. Subject to applicable pension legislation and the Income Tax Act (Canada), the contractholder may not request the redemption or transfer of the SSQ PRRIF LIRA if the investments have not reached maturity. However, if applicable pension legislation permits the contractholder to request the redemption of the SSQ PRRIF LIRA in a case where the contractholder has chosen, as an investment vehicle related to this plan, a non-redeemable GIA, then SSQ shall proceed with the redemption and apply the redemption fees that it determines at its own discretion.

General Points. No contribution invested in the SSQ PRRIF LIF plan may be withdrawn, commuted, surrendered, redeemed, assigned, voluntarily disposed, nor be the object of a waiver of rights, conversion or transfer, other than within the limits permitted under applicable pension legislation and subject to the Income Tax Act (Canada), notably to reduce, where applicable, the amount of tax that would otherwise be payable by the contractholder under this Act. Any transaction purporting to withdraw, surrender, or commute the monies invested will be void, except where an amount is required to be paid to reduce the amount of tax otherwise payable under the Income Tax Act (Canada) and subject to the exceptions provided for under applicable pension legislation or under family law. The redemption or transfer value is established based on the terms of the investment vehicles described in the appendix to this contract and according to the methods and variables described in this same appendix. If the contractholder chooses a redeemable GIA as an investment vehicle for this plan and then requests the payment of an income amount from this GIA or a redemption of this GIA, then redemption fees may apply. If the contractholder chooses a non-redeemable GIA as an investment vehicle for this plan and then requests a redemption of this GIA then SSQ may not process the redemption request unless it proceeds by applying redemption fees at its own discretion. SSQ proceeds with payment in cash within 60 days of receipt of the duly completed request. In the case of a transfer to another financial institution, the time period is 30 days. These time periods are subject to any specific deadlines imposed under applicable pension legislation in accordance with the province, territory or jurisdiction in question. Notwithstanding the redemptions and transfers that may be made according to pension legislation, SSQ keeps the amount required under paragraph 146.3 (2) (e) of the Income Tax Act (Canada) in order to guarantee payment of the minimum income amount during the year. When a redemption or transfer is permitted under applicable pension legislation, the contractholder who would like to carry out such a transaction must submit a written statement in the manner prescribed under this legislation. Any redemption permitted under applicable pension legislation will be paid in a lump sum to the contractholder. SSQ is entitled to rely on the information that you provide it with when you make your redemption or transfer request. SSQ provides you with an acknowledgement of receipt indicating the date of receipt of any document required for a redemption or transfer when required under the terms of applicable pension legislation. Subject to the redemptions and transfers permitted under applicable pension legislation, the SSQ LIF is administered like a deferred life annuity until such time as it is transferred to a plan permitted under this legislation. The locked-in contributions subject to transfer must procure or ensure a retirement income when a transfer is required or permitted under applicable pension legislation. If the prescribed conditions are not met, the SSQ LIF may not be divided into two or more plans or annuities for the purpose of rendering it eligible. Subject to applicable pension legislation and the Income Tax Act (Canada), the contractholder may not request the redemption or transfer of the SSQ PRRIF LIF if the investments have not reached maturity. However, if applicable pension legislation permits the contractholder to request the redemption of the SSQ PRRIF LIF in a case where the contractholder has chosen, as an investment vehicle related to this plan, a non-non- redeemable GIA, then SSQ shall proceed with the redemption and apply the redemption fees that it determines at its own discretion.

General Points. No contribution invested in the SSQ PRRIF LRIF plan may be withdrawn, commuted, surrendered, redeemed, assigned, voluntarily disposed, nor be the object of a waiver of rights, conversion or transfer, other than within the limits permitted under applicable pension legislation and subject to the Income Tax Act (Canada), notably to reduce, where applicable, the amount of tax that would otherwise be payable by the contractholder under this Act. Any transaction purporting to withdraw, surrender, or commute the monies invested will be void, except where an amount is required to be paid to reduce the amount of tax otherwise payable under the Income Tax Act (Canada) and subject to the exceptions provided for under applicable pension legislation or under family law. The redemption or transfer value is established based on the terms of the investment vehicles described in the appendix to this contract and according to the methods and variables described in this same appendix. If the contractholder chooses a redeemable GIA as an investment vehicle for this plan and then requests the payment of an income amount from this GIA or a redemption of this GIA, then redemption fees may apply. If the contractholder chooses a non-redeemable GIA as an investment vehicle for this plan and then requests a redemption of this GIA then SSQ may not process the redemption request unless it proceeds by applying redemption fees at its own discretion. SSQ proceeds with payment in cash within 60 days of receipt of the duly completed request. In the case of a transfer to another financial institution, the time period is 30 days. These time periods are subject to any specific deadlines imposed under applicable pension legislation in accordance with the province, territory or jurisdiction in question. Notwithstanding the redemptions and transfers that may be made according to pension legislation, SSQ keeps the amount required under paragraph 146.3 (2) (e) of the Income Tax Act (Canada) in order to guarantee payment of the minimum income amount during the year. When a redemption or transfer is permitted under applicable pension legislation, the contractholder who would like to carry out such a transaction must submit a written statement in the manner prescribed under this legislation. Any redemption permitted under applicable pension legislation will be paid in a lump sum to the contractholder. SSQ is entitled to rely on the information that you provide it with when you make your redemption or transfer request. SSQ provides you with an acknowledgement of receipt indicating the date of receipt of any document required for a redemption or transfer when required under the terms of applicable pension legislation. Subject to the redemptions and transfers permitted under applicable pension legislation, the SSQ LRIF is administered like a deferred life annuity until such time as it is transferred to a plan permitted under this legislation. The locked-in contributions subject to transfer must procure or ensure a retirement income when a transfer is required or permitted under applicable pension legislation. If the prescribed conditions are not met, the SSQ LRIF may not be divided into two or more plans or annuities for the purpose of rendering it eligible. Subject to applicable pension legislation and the Income Tax Act (Canada), the contractholder may not request the redemption or transfer of the SSQ PRRIF LRIF if the investments have not reached maturity. However, if applicable pension legislation permits the contractholder to request the redemption of the SSQ PRRIF LRIF in a case where the contractholder has chosen, as an investment vehicle related to this plan, a non-redeemable GIA, then SSQ shall proceed with the redemption and apply the redemption fees that it determines at its own discretion.