Manulife Financial offers to pay people to leave a retirement product that was once a sensation [Toronto Globe and Mail (Ontario, Canada)]
Manulife Financial Corporation (MFC)
Last manulife financial corporation earnings: 2/12 05:00 pm
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Source: Toronto Globe and Mail
If you’re part of the crowd who put money in Manulife Financial Corp.’s IncomePlus guaranteed retirement income product after it debuted in 2006, watch your mail for a surprising offer. You can continue to hold IncomePlus, or move without penalties into the company’s GIF Series 75 segregated (seg) funds with some money thrown in as a sweetener by Manulife. Yes, a major financial company is offering a bonus to get clients out of one of its products. The knock on IncomePlus has always been unusually high fees and a lack of flexibility. But there’s no question that its core mandate speaks to a primal need that some people have for assurances that their retirement savings won’t run out. In its heyday, IncomePlus guaranteed that you could withdraw 5 per cent of your investment annually for life starting at the age of 65. Story continues below advertisement IncomePlus was designed for people who put a high value on guaranteed income, but also ha
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MFC
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MFC
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- 3/22/24 - Form 6-K
- MFC's page on the SEC website