Common use of General Points Clause in Contracts

General Points. Subject to the transfers and redemptions permitted under applicable pension legislation and as long as the minimum income amount has been paid, the value of the contract associated with the SSQ LRIF may be converted at any time, in whole or in part, to a life annuity guaranteed by an insurer, immediate or deferred, with or without a guaranteed term, subject to the provisions provided for under this same legislation. The life annuity may include a guaranteed term not exceeding a number of years equal to 90, less the age of the contractholder (in whole years) at the time of conversion or, if the spouse is younger than the contractholder and this latter so decides, less the age of the spouse (in whole years) also at the time of conversion. SSQ transfers the value of the contract associated with the SSQ LRIF after having ensured that the minimum income amount set out under the Income Tax Act (Canada) has been paid to the contractholder. Annuity payments must be in the form of equal payments, made annually or at more frequent intervals, until such time as there is a payment stemmingfromatotalorpartialconversionofthe retirement income according to the provisions of the Income Tax Act (Canada). However, annuity payments may vary if each amount payable is uniformly increased by reason of an index or a rate permitted under the Income Tax Act or a rate provided for in the contract or uniformly adjusted by reason of a seizure effected on the rights of the contractholder, a redetermination of the contractholder’s pension, partition of the contractholder’s rights with the spouse, payment of a temporary pension under the conditions provided for under pension legislation where applicable, or any other option set out under applicable pension legislation and in compliance with the Income Tax Act (Canada). In addition, the life annuity must be established for the whole life of the contractholder and the spouse as described in greater detail under the particularities provided hereafter. No benefit provided for under the life annuity, immediate or deferred, may be assigned, charged, alienated or redeemed, nor promised in payment or given as security. Any transaction related to one of these operations shall be null and void, subject to the exceptions stipulated under applicable pension legislation or under family law. The terms that are applicable to the value of the contract that is the object of the conversion to an annuity are those provided for in the appendix to this contract. If the monthly payments are less than the minimum in force at SSQ, then SSQ reserves the right to reduce the frequency of payments to attain this minimum or to settle, in a lump sum, the redemption value of the SSQ LRIF instead of allocating this value toward the payment of an annuity, and this, in conformity with the Income Tax Act (Canada) and applicable pension legislation. SSQ may not be held liable for any loss that may result from such conversion. Subject to applicable pension legislation and the Income Tax Act (Canada), the contractholder may not request conversion of the value of the contract associated with the SSQ LRIF to an annuity if the investments have not reached maturity.

General Points. Subject to the transfers and redemptions permitted under applicable pension legislation and as long as the minimum income amount has been paid, the value of the contract associated with the SSQ LRIF LIF may be converted at any time, in whole or in part, to a life annuity guaranteed by an insurer, immediate or deferred, with or without a guaranteed term, subject to the provisions provided for under this same legislation. The life annuity may include a guaranteed term not exceeding a number of years equal to 90, less the age of the contractholder (in whole years) at the time of conversion or, if the spouse is younger than the contractholder and this latter so decides, less the age of the spouse (in whole years) also at the time of conversion. SSQ transfers the value of the contract associated with the SSQ LRIF LIF after having ensured that the minimum income amount set out under the Income Tax Act (Canada) has been paid to the contractholder. Annuity payments must be in the form of equal payments, made annually or at more frequent intervals, until such time as there is a payment stemmingfromatotalorpartialconversionofthe retirement income according to the provisions of the Income Tax Act (Canada). However, annuity payments may vary if each amount payable is uniformly increased by reason of an index or a rate permitted under the Income Tax Act or a rate provided for in the contract or uniformly adjusted by reason of a seizure effected on the rights of the contractholder, a redetermination of the contractholder’s pension, partition of the contractholder’s rights with the spouse, payment of a temporary pension under the conditions provided for under pension legislation where applicable, or any other option set out under applicable pension legislation and in compliance with the Income Tax Act (Canada). In addition, the life annuity must be established for the whole life of the contractholder and the spouse as described in greater detail under the particularities provided hereafter. No benefit provided for under the life annuity, immediate or deferred, may be assigned, charged, alienated or redeemed, nor promised in payment or given as security. Any transaction related to one of these operations shall be null and void, subject to the exceptions stipulated under applicable pension legislation or under family law. In Newfoundland and Labrador, the property in the SSQ LIF must be converted into a life annuity that meets the requirements of the applicable pension legislation, on or before December 31 of the year in which the contractholder attains age 80 or any other age limit set out under applicable pension legislation. If on or before the 31st day of March in the year after the year in which the contractholder turns age 80 or any other age limit set out under applicable pension legislation, the contractholder has not requested conversion of the LIF plan to a life annuity, then SSQ shall convert the value of the SSQ LIF to a life annuity in conformity with applicable pension legislation. SSQ may not be held liable for any loss that may result from such conversion. The terms that are applicable to the value of the contract that is the object of the conversion to an annuity are those provided for in the appendix to this contract. If the monthly payments are less than the minimum in force at SSQ, then SSQ reserves the right to reduce the frequency of payments to attain this minimum or to settle, in a lump sum, the redemption value of the SSQ LRIF LIF instead of allocating this value toward the payment of an annuity, and this, in conformity with the Income Tax Act (Canada) and applicable pension legislation. SSQ may not be held liable for any loss that may result from such conversion. Subject to applicable pension legislation and the Income Tax Act (Canada), the contractholder may not request conversion of the value of the contract associated with the SSQ LRIF LIF to an annuity if the investments have not reached maturity.

General Points. Subject to the transfers and redemptions permitted under applicable pension legislation and as long as the minimum income amount has been paidlegislation, the value of the contract associated with the SSQ LRIF LIRA plan may be converted at any time, in whole or in part, time to a life annuity guaranteed by an insurer, immediate or deferred, with or without a guaranteed term, subject to the provisions provided for under this same legislation. The life annuity may include a guaranteed term not exceeding a number of years equal to 90, less the age of the contractholder (in whole years) at the time of conversion or, if the spouse is younger than the contractholder and this latter so decides, less the age of the spouse (in whole years) also at the time of conversion. SSQ transfers the value of the contract associated with the SSQ LRIF after having ensured that the minimum income amount set out under the Income Tax Act (Canada) has been paid to the contractholder. Annuity payments must be in the form of equal payments, made annually or at more frequent intervals, until such time as there is a payment stemmingfromatotalorpartialconversionofthe stemming from a total or partial conversion of the retirement income according to the provisions of the Income Tax Act (Canada). However, annuity payments may vary if each amount payable is uniformly increased by reason of an index or a rate permitted under the Income Tax Act (Canada) or a rate provided for in the contract or uniformly adjusted by reason of a seizure effected on the rights of the contractholder, a redetermination of the contractholder’s pension, partition of the contractholder’s rights with the spouse, payment of a temporary pension under the conditions provided for under pension legislation where applicable, or any other option set out under applicable pension legislation and in compliance with the Income Tax Act (Canada). In addition, the life annuity must be established for the whole life of the contractholder and the spouse as described in greater detail under the particularities provided hereafter. No benefit provided for under the life annuity, immediate or deferred, may be assigned, charged, alienated or redeemed, nor promised in payment or given as security. Any transaction related to one of these operations shall be null and void, subject to the exceptions stipulated under applicable pension legislation or under family law. The terms In Newfoundland and Labrador, Nova Scotia, New Brunswick, Ontario, Saskatchewan, and British Columbia, annuity payments must not commence before the contractholder attains the age of 55 years, or, if the contractholder provides evidence to the satisfaction of SSQ that are applicable the plan from which the money was transferred provided for payment of the pension at an earlier age, that earlier age. If, before the end of the calendar year in which the contractholder turns age 71, or any other age limit specified under the Income Tax Act (Canada), such contractholder has not made an application to purchase a retirement product issued by SSQ, then SSQ shall convert the value of the contract that is the object of the conversion SSQ LIRA to an annuity are those SSQ LIF for the minimum annual withdrawal amount provided for under the Income Tax Act (Canada), and in the appendix to this contractconformity with applicable pension legislation. If the monthly payments are less than the minimum in force at SSQ, then SSQ reserves the right to reduce the frequency of payments to attain this minimum or to settle, in a lump sum, the redemption value of the SSQ LRIF instead of allocating this value toward the payment of an annuityLIRA, and this, in conformity with the Income Tax Act (Canada) and applicable pension legislation. The terms that are applicable are those provided for in the appendix to this contract. SSQ may not be held liable for any loss that may result from such conversion. Subject to applicable pension legislation and the Income Tax Act (Canada), the contractholder may not request conversion of the value of the contract associated with the SSQ LRIF LIRA to an annuity annuity, if the investments have not reached maturity.

General Points. Subject to the transfers and redemptions permitted under applicable pension legislation and as long as the minimum income amount has been paid, the value of the contract associated with the SSQ LRIF PRRIF may be converted at any time, in whole or in part, to a life annuity guaranteed by an insurer, immediate or deferred, with or without a guaranteed term, subject to the provisions provided for under this same legislation. The life annuity may include a guaranteed term not exceeding a number of years equal to 90, less the age of the contractholder (in whole years) at the time of conversion or, if the spouse is younger than the contractholder and this latter so decides, less the age of the spouse (in whole years) also at the time of conversion. SSQ transfers the value of the contract associated with the SSQ LRIF PRRIF after having ensured that the minimum income amount set out under the Income Tax Act (Canada) has been paid to the contractholder. Annuity payments must be in the form of equal payments, made annually or at more frequent intervals, until such time as there is a payment stemmingfromatotalorpartialconversionofthe retirement income according to the provisions of the Income Tax Act (Canada). However, annuity payments may vary if each amount payable is uniformly increased by reason of an index or a rate permitted under the Income Tax Act or a rate provided for in the contract or uniformly adjusted by reason of a seizure effected on the rights of the contractholder, a redetermination of the contractholder’s pension, partition of the contractholder’s rights with the spouse, payment of a temporary pension under the conditions provided for under pension legislation where applicable, or any other option set out under applicable pension legislation and in compliance with the Income Tax Act (Canada). In addition, the life annuity must be established for the whole life of the contractholder and the spouse as described in greater detail under the particularities provided hereafter. No benefit provided for under the life annuity, immediate or deferred, may be assigned, charged, alienated or redeemed, nor promised in payment or given as security. Any transaction related to one of these operations shall be null and void, subject to the exceptions stipulated under applicable pension legislation or under family law. The terms that are applicable to the value of the contract that is the object of the conversion to an annuity are those provided for in the appendix to this contract. If the monthly payments are less than the minimum in force at SSQ, then SSQ reserves the right to reduce the frequency of payments to attain this minimum or to settle, in a lump sum, the redemption value of the SSQ LRIF PRRIF instead of allocating this value toward the payment of an annuity, and this, in conformity with the Income Tax Act (Canada) and applicable pension legislation. SSQ may not be held liable for any loss that may result from such conversion. Subject to applicable pension legislation and the Income Tax Act (Canada), the contractholder may not request conversion of the value of the contract associated with the SSQ LRIF PRRIF to an annuity if the investments have not reached maturity.