It s easy to join Your savings grow faster We re here to help

Transcription

1 NextStep guide It s easy to join Your savings grow faster We re here to help Our NextStep group plan is a great option for your savings and retirement income needs.

2

3 Why join NextStep? Whether you re changing careers or retiring, Great-West Life will help you with your next steps. It s easy to join Your savings grow faster We re here to help Our simple enrolment lets you transfer your investments easily, so you can stay invested. Take advantage of lower fees through the power of group purchasing. We offer industry-leading service and support, from enrolment through retirement. With NextStep, you can keep many of the advantages and investment options from your current group plan. It s available to you as a complementary benefit to your current group plan. Moving your savings doesn t need to be stressful. So turn the page, take the next step and get closer to achieving your goals. 3

4 An easy way to stay invested During this time of change in your life, it s important not to lose sight of your financial goals and your savings. We make it easy for you to join NextStep, so you can stay invested. In most cases NextStep offers the same investment options you re already familiar with, which allows you to keep your investments the same, stay fully invested in the market and focus on other priorities in your life. Once you join NextStep, you can always make changes to your investments. It offers more options than your previous group plan, from funds that are professionally managed and need little involvement on your part, to more hands-on solutions where you build your own investment portfolio. NextStep members can save through registered retirement savings plans (RRSPs), tax-free savings accounts (TFSAs) and non-registered savings plans. When you re ready to retire and start receiving income, we offer registered retirement income funds (RRIFS), life income funds (LIFs) and annuities. For a complete list of investment options, see the Schedule of fees on page 27 of this guide. The power of group purchasing Being part of the NextStep group plan means you generally pay lower investment management fees compared with typical individual investments. You benefit from lower fees because of the combined purchasing power of all NextStep plan members. Three per cent more or $3,021 See the difference lower fees can make $102,177 $105,198 In this example, the NextStep member gains an extra $3,021 in savings over 25 years because of lower fees. That s three per cent more than individual investments, which means more cash for you. $52,177 $55,198 $50,000 $50,000 Individual RRSP NextStep group RRSP R Assumptions: The individual investments management expense ratio was calculated using the balanced funds asset class median of 2.10 per cent, obtained from Morningstar as of May The group investment management fee and expense was calculated using NextStep s balanced funds median of 1.98 per cent as of May, 2015 for fee level $50,000-$100,000. We ve assumed a rate of return of five per cent before the above fees are deducted. The accumulated assets in the chart have been rounded to the nearest dollar. 4

5 Grow your savings faster Saving with NextStep can be like buying in bulk. As your investments grow and reach certain levels, you ll benefit from even lower investment management fees and higher interest rates on guaranteed investment accounts. Consider combining all your investments within NextStep to receive a higher interest rate and lower investment management fees. Not only is it easier to keep track of your savings by having them all in one place, but you ll have one statement, one website, one contact from enrolment through retirement. Eight per cent more or $17,567 Combining investments within NextStep $204,355 $221,922 In this example, the member moves all investments to NextStep. By increasing the total plan savings to $100,000 and reaching a new level, the member earns an extra $17,567 in savings over 25 years. That s a difference of eight per cent over individual investments. By combining your investments, your savings are maximized and your retirement income can grow even more. The more you put in, the more you save. $104,355 $121,922 $100,000 $100,000 Individual RRSP NextStep group RRSP R Assumptions: The individual investments management expense ratio was calculated using the balanced funds asset class median of 2.10 per cent, obtained from Morningstar as of May The group investment management fee and expense was calculated using NextStep s balanced funds median of 1.76 per cent as of May 2015 for fee level $100,000-$250,000. We ve assumed a rate of return of five per cent before the above fees are deducted. The accumulated assets in the chart have been rounded to the nearest dollar. 5

6 Personalized service and support Investment and retirement specialists to help with your decisions If you need help creating an investment strategy, combining your investments or turning your savings into retirement income, an investment and retirement specialist will be happy to assist you. These salaried professionals have attained, or are in the process of attaining, the Certified Financial Planner designation. That means you ll receive sound financial guidance every step of the way. You can arrange to speak with one of our specialists by calling , weekdays between 8 a.m. and 8 p.m. ET, or retirementready@gwl.ca. There s no charge for this service it s one of the benefits of being a NextStep member. Plan statements when and how you need them Our semi-annual statements show your plan activity. You can also generate your own statement any time on our website. For savings plans, each year-end statement includes a retirement illustration that lets you see how your savings are progressing compared with your goals. 6

7 GRS Access You can use our website to make investment changes, create your retirement plan and manage your retirement income. The home page can be customized to display the information you want, giving you quick access to your plan balance, fund performance and helpful tools. Plus, you ll have access to an infosite that s designed to help you get the most out of NextStep, with plan information, tips and forms to manage your plan. Be our guest Before you become a NextStep member, you can use the guest sign-in information below to explore the infosite and the tools on GRS Access. Investment options, rates of return, and fund reports can be found under the Investments tab. To launch the infosite, select NextStep infosite on the home page. Access ID: Password: easytojoin (case sensitive, enter exactly as shown) Once your savings are transferred to NextStep, you ll be able to use the same Access ID and password as your previous group plan. Toll-free help with Access Line at You can call Access Line to get information about your investments and make account changes. To speak with a client service representative, call Monday to Friday, between 8 a.m. and 8 p.m. ET. 7

8 Joining a NextStep savings plan takes three simple steps NextStep savings plans include registered retirement savings plans (RRSPs), tax-free savings accounts (TFSAs) and non-registered savings plans. Step 1 Complete the membership application A To join the NextStep RRSP, complete the Application for membership in a trusteed retirement savings plan on page 13. You ll find instructions for completing it on page 12 of this guide. Applications to join a TFSA or non-registered plan with NextStep are also provided. Step 2 Make regular contributions Contributing to NextStep savings plans regularly allows you to grow your savings faster and benefit from dollar-cost averaging. Some people make lump-sum contributions once a year; however, if the markets are high at the time of investment their money buys less. With dollar-cost averaging, you can smooth out the highs and lows of the market by contributing and investing a set amount throughout the year. It s a proven way to minimize volatility and maximize returns. If you d like to contribute regularly, you can set up contributions to your RRSP and TFSA through online banking or make pre-authorized contributions (PACs). You ll find how to make contributions on page 10 of this guide. To make regular contributions to a non-registered savings plan, call us to find out how. Regular contributions grow your savings faster $35,687 $40,657 $14,643 $29,287 $25 per month $50 per month $100 per month Contribution amount $58, R Assumptions: Contributions are made monthly over 25 years. Totals are based on an effective annual interest rate of five per cent. 8

9 Step 3 Complete the Statement of options You ll find the Statement of options at the front of this package. It provides a summary of all your options and asks you to decide what you want to do with your savings. Follow the instructions on the Statement of options to complete it. Be sure to select the applicable Transfer to NextStep checkbox and sign the authorization section. Once you ve completed the Application for membership, Statement of options, and any other required forms, mail them to Great-West Life in the self-addressed envelope provided in this package. What s next? You ll receive a NextStep welcome package to confirm your membership. If you provide your address on the membership application, you ll receive an electronic copy. This package includes detailed information about the NextStep plan. When your NextStep welcome package arrives, be sure to complete the Investment personality questionnaire. This questionnaire is very important because it can help you determine if your current investments are still appropriate. You ll also find it on GRS Access at NextStep infosite > Investments > An easier way to save. For risk-adjusted target date funds, make sure to complete the questionnaire that s specifically for those funds. We re here to help Thank you for choosing the NextStep plan with Great-West Life. If you have questions or need help with the steps in this guide, call Access Line at , weekdays between 8 a.m. and 8 p.m. ET. Are you retiring? If you re ready to start receiving retirement income, our investment and retirement specialists can guide you every step of the way. We ll help you choose options that fit your needs, make the most of your retirement income, and assist with completing the Statement of options and any other forms. You can choose from a variety of options. These include flexible income options such as registered retirement income funds (RRIFs) and life income funds (LIFs), and guaranteed income options through annuities. RRIFs and LIFs give you flexibility and control over investments and retirement income. Life annuities provide guaranteed income to ensure your savings last a lifetime and don t require investment decisions. Annuities are issued through our subsidiary Canada Life. Check out a two-minute video that simplifies these options. Go to > Simply speaking videos > Turning your savings into retirement income. You can also get an idea of your income from a RRIF or LIF with our Income wizard at incomewizard. It s easy to use and lets you try out different scenarios. To discuss your needs call Access Line at and ask to speak with an investment and retirement specialist, or retirementready@gwl.ca. Simple steps to join 9

10 How to make contributions Online banking Contributing through your bank s website is as easy as paying bills online. You can set up automatic recurring contributions, if your bank allows them, at any frequency or make lump-sum contributions. Sign in to your personal online banking site and select NEXTSTEP GREAT-WEST LIFE as the payee in the bill payment section. Then enter the following information (without spaces or punctuation) to set up your account: 1. The plan* you d like to contribute to: RRSP or TFSA 2. Your five-digit policy number: Your certificate number: e.g., This certificate number is just an example. You won t have your new certificate number until your membership application has been processed. Once you become a member, you can obtain this number by visiting GRS Access or calling Access Line. For example, using the above information, if you re contributing to an RRSP, enter RRSP Once you ve set up the payee and account information, here s an example of how it may look on your bank s website: Pre-authorized contributions (PAC) If you prefer not to contribute through online banking, you can make regular monthly contributions through pre-authorized withdrawals from your bank account. Complete the applicable Pre-authorized contribution agreement that s available on the NextStep infosite under Forms. When completing the Pre-authorized contribution agreement for an RRSP or TFSA: Attach a pre-printed personalized cheque marked VOID to the agreement. In Part A of the agreement, complete the transit number, bank code and account number. A sample cheque below shows how to obtain this information. Transit number Bank code Account number Pay bills Select Payee EXAMPLE ONLY NEXTSTEP GREAT-WEST LIFE RRSP *If you d like to direct 100 per cent of your contributions to a spousal RRSP, set up a separate payee replacing RRSP with SRSP as the plan type, and use your spouse s certificate number. If you d like to make regular contributions to a non-registered savings plan, call us to find out how. 10

11

12 How to complete the retirement savings plan application When completing the A Application for membership in a trusteed retirement savings plan, follow the instructions below or see a helpful video at Carefully review the details on the form as you complete it. SECTION 3 ANNUITANT INFORMATION Section three is where you provide your information. It helps us make sure you receive your plan statements, tax receipts and tax slips. Using the checkboxes, indicate if you re applying for a personal and/or spousal retirement savings plan. You can apply for both plan types on the same application. With a personal plan, you make the plan contributions and/or transfer in savings from your registered pension plan, deferred profit sharing plan or personal RRSP. With a spousal plan, your spouse or common-law partner makes contributions for you, and he or she receives the tax relief. Your spousal RRSP savings can be transferred to your NextStep spousal RRSP. You don t need to provide ID numbers in this section we ll complete that part. SECTION 4 RSP SPOUSAL CONTRIBUTOR INFORMATION If you selected the spousal retirement savings plan in section three, provide the contributor s first name, last name and social insurance number. SECTION 5 TRANSFER FUNDS Select the Yes checkbox if you d like to transfer your investments from other financial institutions to the NextStep plan. Provide your contact information and we ll call you, or leave it blank and call Access Line at Ask for an investment and retirement specialist to assist with the transfer. Learn about the benefits of combining your investments in the Grow your savings faster section on page 5 of this guide. SECTION 6 BENEFICIARY INFORMATION It s important you indicate who should receive your NextStep savings in the event of your death. If you list more than one beneficiary, specify what percentage of the savings each person should receive and make sure the numbers add up to 100 per cent. SECTION 7 TRUSTEE APPOINTMENT If one of your beneficiaries is a minor or lacks legal capacity and lives outside of Quebec, review this section closely and complete it if applicable. If you already have a trust agreement, you don t need to complete this section. SECTION 8 INVESTMENT SELECTION You don t need to complete this section to become a NextStep member. Your savings will be transferred to the same investment options they re in currently. If an investment option isn t available in NextStep, your savings will be invested in the Moderate Profile Fund. Once in NextStep, you can change where your savings are invested at any time. If you want to make new plan contributions and you already know in what funds you d like to invest, complete this section. Refer to the Schedule of fees on page 27 for the proper fund names. If you choose more than one fund, make sure the allocation percentages add up to 100 per cent. If you d like to make regular contributions, see page 10 of this guide to find out how. SECTION 11 SIGNATURE Sign and date the application in this section. 12

13 Application for membership in a trusteed retirement savings plan A Return to Great-West Life, Group Retirement Services 255 Dufferin Avenue, T540, London, ON N6A 4K SECTION 1 PLAN SPONSOR INFORMATION Name of plan sponsor Policy/plan number Great-West Life, NextStep SECTION 2 IMPORTANT INFORMATION Great-West Life Group Retirement Services is a division of The Great-West Life Assurance Company (Great-West Life) and its subsidiaries, London Life Insurance Company (London Life) and The Canada Life Assurance Company (Canada Life) (collectively, the Insurers). Investors Group Trust Co. Ltd. 447 Portage Avenue, Winnipeg, MB R3C 3B6 is the trustee of the retirement savings plan (the Trustee) and has appointed London Life as its agent (the Agent). Administrative services for the trusteed retirement savings plan are provided by London Life as agent of Investors Group Trust Co. Ltd. Where the Trustee has applied for a group annuity contract with one or more Insurers for the benefit of the annuitants, London Life, Great-West Life and Canada Life are the respective issuers of the insurance policies for the plan, as applicable. London Life and its affiliated companies operate using shared staff and computer systems and may share information about the annuitant s insurance holdings and the annuitant s trusteed retirement savings plan account for record-keeping purposes between companies and third-party service providers. SECTION 3 ANNUITANT INFORMATION (please print) The annuitant is applying for: Personal RSP the annuitant is the owner and person contributing to the plan. Do not complete section 4. ID number (completed by London Life) AND/OR Spousal RSP the annuitant is the owner and the annuitant s spouse/common-law partner is the person contributing to the plan. Section 4 must be completed. ID number (completed by London Life) Last name Middle initial First name Social insurance number - - I authorize the use of my social insurance number for tax reporting, identification and record keeping Date of birth yyyy mm dd Male Female Address (apt. no., street no., street) Language preference English French address (required for online access and to information about the plan or services connected with it) Applications and plan documents City Province Postal code Telephone no. Alternate telephone no. - - Ext. - - SECTION 4 RSP SPOUSAL CONTRIBUTOR INFORMATION Last name of contributor First name Social insurance number - - SECTION 5 TRANSFER FUNDS Yes, I have investments with other financial institutions that I would be interested in transferring to this plan. Please call me at: Daytime number Evening number SECTION 6 BENEFICIARY INFORMATION Primary beneficiary(ies) on my death Relationship of beneficiary to annuitant Select box below OR Specify under Other Last name First name Date of birth Married Quebec Common-law civil union partner yyyy mm dd spouse Other (child, friend, etc.) % of benefit Total 100% The above named person(s) is/are appointed as beneficiary(ies) to receive the applicable value of my account under either the policy(ies) held in the retirement savings plan or the trusteed retirement savings plan, depending on the applicable law. Unless the law requires otherwise, if one of my primary beneficiaries predeceases me, their share will be paid to the surviving primary beneficiaries in equal shares, or if there is no surviving primary beneficiary(ies), to my contingent beneficiary(ies) named below. If there is no contingent beneficiary(ies), the benefit will be paid to my estate. Contingent beneficiary(ies) on my death Date of birth % of Last name First name Relationship of beneficiary to annuitant yyyy mm dd benefit Total 100% Where permitted by law, these designations are for all benefits payable under the plan(s) unless pension legislation requires payment to my spouse or common-law partner. All beneficiary designations are revocable except: where a Designation of irrevocable beneficiary form is completed where Quebec law applies and I have designated my married or civil union spouse as my beneficiary - the box below applies. Where Quebec law applies: If I designate my married or civil union spouse as my beneficiary, they will be irrevocable unless I check the box below. If not, restrictions will apply, unless I obtain the consent of my spouse. For example, I will be prevented from changing my beneficiary, making withdrawals (where permitted) or exercising certain other rights. I designate my married or civil union spouse as my revocable beneficiary. Where a minor beneficiary or a person who lacks legal capacity resides in Quebec - Benefits payable under the plan(s) to a beneficiary who, at the time payment is to be made, is a minor or lacks legal capacity, will be paid to their tutor(s) or curator, unless a valid trust has been established for the benefit of the beneficiary, by will or by separate contract, to receive any such payment and the Agent has been provided notice of the trust. If a trust has already been established, designate the trust as the beneficiary in this section. Before designating a trust, legal advice should be sought. 13 Page 1 of 2

14 Application for membership in a trusteed retirement savings plan (continued) SECTION 7 TRUSTEE APPOINTMENT (to be completed if any of the beneficiaries are minors or otherwise lack legal capacity AND DO NOT RESIDE IN QUEBEC) If a formal trust does not exist, I hereby appoint: Full name of trustee being appointed (last name, then first): Trustee for (indicate beneficiary name) Relationship of trustee to annuitant: as trustee to receive, in trust, all benefits payable to any beneficiary designated under the plan(s) who, at the time benefits are paid, is a minor or lacks legal capacity to give a valid discharge according to the laws of the beneficiary s domicile. Payment of benefits to the trustee discharges the Trustee and Agent to the extent of the payment. I authorize the trustee in their sole discretion to use the benefits for the education or maintenance of the beneficiary and to exercise any right of the beneficiary under the plan(s). The trustee may, in addition to the investments authorized for trustees, invest in any product of, or offered by, the Agent or its affiliated financial institutions. The trust for any beneficiary will terminate once that beneficiary is both of age of majority and has legal capacity to give a valid discharge. I direct the trustee to deliver at that time to the beneficiary the assets held in trust for that beneficiary. I or my personal representative may by writing appoint a new trustee to replace the former trustee. SECTION 8 INVESTMENT SELECTION Contributions may be invested in the investment options available under the annuity policy(ies) held by the Trustee. If a selection is not made, new contributions will be invested in the Moderate Profile Fund. Investment selections can be updated at any time through the GRS Access website or by calling Access Line at Name of investment and/or code Percentage Name of investment and/or code Percentage % % % % % % Total allocation must equal 100% SECTION 9 CONFIDENTIAL INFORMATION FILE The Trustee and Agent will establish a confidential file that contains personal information concerning the annuitant. By submitting a written request to the Agent, the annuitant may exercise rights of access to, and rectification of, the file. The Trustee and Agent will collect, use and disclose the annuitant s personal information to: process this application and provide, administer and service the plan(s) applied for (including service quality assessments by or on behalf of the Trustee); advise the annuitant of products and services to help the annuitant to plan for financial security; investigate, if required, and pay benefits under the plan(s); create and maintain records concerning our relationship as appropriate; and, fulfill such other purposes as are directly related to the preceding. The Trustee and Agent may use service providers within or outside Canada. Personal information concerning the annuitant will only be available to the annuitant, plan sponsor, pension and related government authorities, the Trustee, the Agent, their affiliates, and any duly authorized employees, agents, representatives and third party service providers, as applicable, of the Trustee, Agent or the affiliates, within or outside Canada, for or related to the purpose of the plan(s), except as otherwise may be required, authorized or allowed by law or legal process, or by the annuitant. In all cases, availability is subject to lawful determination by the Trustee or Agent. Personal information is collected, used, disclosed, or otherwise processed or handled in accordance with governing law, including applicable privacy legislation, and the annuitant s personal information may be subject to disclosure to those authorized under applicable law within or outside Canada. SECTION 10 APPLICATION FOR REGISTRATION I apply for membership in the trusteed retirement savings plan(s) and authorize the plan sponsor to act as my agent for the purpose of the plan(s), including the provision of personal information, as applicable, to the Trustee or Agent. I acknowledge that the retirement savings plan(s) will be governed by the Declaration of Trust and hereby request that the Trustee apply to register the plan(s) as registered retirement savings plan(s) under the Income Tax Act (Canada) and any similar provincial law. If locked-in pension funds are transferred to the plan(s), I acknowledge that such funds will be governed by the LIRA/RLSP addendum which will form part of the Declaration of Trust and will govern to the extent of any inconsistency between the Declaration of Trust and the addendum. SECTION 11 SIGNATURE I certify that the information provided in this application is true and complete and will update it in the future as it changes. The Trustee and Agent may rely on it until changed. I have read the terms of the Declaration of Trust and this application and agree to be bound by their terms. I am aware of the reasons the information covered by my authorizations and consents is needed, and of the benefits of, and the risks of not, authorizing/consenting. I authorize and consent to the Trustee and Agent collecting, using, and disclosing personal information concerning me for the purposes outlined in the Confidential Information File section. This authorization and consent is given in accordance with applicable law and without limiting the authorizations and consents given elsewhere in this application. My authorizations and consents will begin the date this application is signed and end when no longer required. My authorizations and consents may be revoked at any time by either written or electronic notification to the Trustee or Agent, subject to legal and contractual considerations. A reproduction of my authorizations and consents will be as valid as the original. The Trustee and Agent may accept information from me in such form or through such media as may be determined from time to time. I consent to the recording of any telephone calls between me and the Trustee or Agent. I acknowledge that the Trustee has applied for a group annuity contract with one or more of the Insurers, and I hereby appoint the Trustee as my exclusive and irrevocable agent for purposes of transmitting information, including beneficiary designations to be applied to the group annuity contract(s), and otherwise dealing in any way with respect to my interest in such contract(s). I hereby instruct the Trustee to deliver a copy of this appointment to the insurer(s) and to direct contributions to the applicable insurer for application to my account under the group annuity contract. The Trustee and Agent are authorized to use the information collected and provided as part of this application in the opening of other account types as may be made available by it to me through my plan sponsor. If, upon ceasing to be eligible or maturity of the plan(s), I make no election within the time period stated in the plan(s), I hereby appoint the Trustee to act as my agent to exercise any options available under the plan(s) and as permitted by the Income Tax Act (Canada) (the Act ). Signature of annuitant Date Investors Group Trust Co. Ltd., by its authorized officer 14 Page 2 of 2

15 Application for membership in a tax-free savings account Return to Great-West Life, Group Retirement Services 255 Dufferin Avenue, T540, London, ON N6A 4K B SECTION 1 EMPLOYER/PLAN SPONSOR INFORMATION Name of employer/plan sponsor Policy/plan number Great-West Life, NextStep SECTION 2 ISSUER INFORMATION This tax-free savings account is issued by London Life Insurance Company (the Issuer) 255 Dufferin Avenue, London, ON N6A 4K1. London Life is a subsidiary of Great-West Life. The Great-West Life Assurance Company and key design are trade-marks of Great-West Life, used under licence by London Life for the promotion and marketing of insurance products. SECTION 3 HOLDER/MEMBER INFORMATION (please print) Identification/employee Last name Middle initial First name number (if applicable) Completed by London Life Social insurance number Date of birth Language preference address - - I authorize the use of my social insurance number for tax reporting, identification and record keeping Address (apt. no., street no., street) yyyy mm dd Must be 18 or older Male Female English French Required for online access and to information about the plan or services connected with it City Province Postal code Telephone no. Alternate telephone no. - - Ext. - - SECTION 4 SUCCESSOR HOLDER/SUCCESSOR MEMBER INFORMATION Where permitted by law, in the event of my death, I hereby appoint: Full name of spouse or common-law partner (last name, then first) Social insurance number Date of birth (yyyy, mm, dd) - - to become the successor holder and acquire all rights I have as holder instead of a lump sum death benefit. I understand that, if I have appointed my spouse or common-law partner as successor holder, a beneficiary designation will be effective only if the successor holder dies before me or is not my spouse or common-law partner at the date of my death. If I have appointed a successor holder, an irrevocable beneficiary cannot be designated. SECTION 5 TRANSFER FUNDS Yes, I have investments with other financial institutions that I would be interested in transferring to this plan. Please call me at: Daytime number Evening number SECTION 6 BENEFICIARY INFORMATION Primary beneficiary(ies) Last name First name Relationship of beneficiary to annuitant Select box below OR Specify under Other Date of birth Married Quebec Common-law Other civil union partner (child, friend, etc.) yyyy mm dd spouse % of benefit Total 100% Unless the law requires otherwise, if one of my primary beneficiaries predeceases me, their share will be paid to the surviving primary beneficiaries in equal shares, or if there is no surviving primary beneficiary(ies), to my contingent beneficiary(ies) named below. If there is no contingent beneficiary(ies), the benefit will be paid to my estate. Contingent beneficiary(ies) Last name First name Date of birth Relationship of beneficiary to holder yyyy mm dd % of benefit Total 100% Where permitted by law, these designations are for all benefits payable under the plan and are revocable except: where a Designation of irrevocable beneficiary form is completed where Quebec law applies and I have designated my married or civil union spouse as my beneficiary - the box below applies. Where Quebec law applies: If I designate my married or civil union spouse as my beneficiary, they will be irrevocable unless I check the box below. If not, I will be prevented from changing my beneficiary unless I obtain the consent of my spouse. I designate my married or civil union spouse as my revocable beneficiary. Where a minor beneficiary or a person who lacks legal capacity resides in Quebec - Benefits payable under this plan to a beneficiary who, at the time payment is to be made, is a minor or lacks legal capacity, will be paid to their tutor(s) or curator, unless a valid trust has been established for the benefit of the beneficiary, by will or by separate contract, to receive any such payment and the Issuer has been provided notice of the trust. If a trust has already been established, designate the trust as the beneficiary in this section. Before designating a trust, legal advice should be sought. 15 Page 1 of 2

16 Application for membership in a tax-free savings account (continued) SECTION 7 TRUSTEE APPOINTMENT (to be completed if any of the beneficiaries are minors or otherwise lack legal capacity AND DO NOT RESIDE IN QUEBEC) If a formal trust does not exist, I hereby appoint: Full name of trustee being appointed (last name, then first): Trustee for (indicate beneficiary name) Relationship of trustee to holder: as trustee to receive, in trust, all benefits payable to any beneficiary designated under the plan who, at the time benefits are paid, is a minor or lacks legal capacity to give a valid discharge according to the laws of the beneficiary s domicile. Payment of benefits to the trustee discharges the Issuer to the extent of the payment. I authorize the trustee in their sole discretion to use the benefits for the education or maintenance of the beneficiary and to exercise any right of the beneficiary under the plan. The trustee may, in addition to the investments authorized for trustees, invest in any product of, or offered by, the Issuer or its affiliated financial institutions. The trust for any beneficiary will terminate once that beneficiary is both of age of majority and has legal capacity to give a valid discharge. I direct the trustee to deliver at that time to the beneficiary the assets held in trust for that beneficiary. I or my personal representative may by writing appoint a new trustee to replace the former trustee. SECTION 8 INVESTMENT SELECTION If investment instructions are not provided on this application, new contributions will be invested in the Moderate Profile Fund. Investment instructions can be updated at any time through the GRS Access website or by calling Access Line at The Issuer offers a selection of both guaranteed investments and variable investment funds. Contributions directed to variable investment funds are not guaranteed and will increase or decrease in value according to fluctuations in the market value of the assets. Name of investment and/or code Percentage Name of investment and/or code Percentage % % % % % % % % % % Total allocation must equal 100% SECTION 9 CONFIDENTIAL INFORMATION FILE The Issuer will establish a confidential information file that contains personal information concerning the holder. By submitting a written request to the Issuer, the holder may exercise rights of access to, and rectification of, the file. The Issuer will collect, use and disclose the holder s personal information to: process this application and provide, administer and service the plan applied for (including service quality assessments by or on behalf of the Issuer); advise the holder of products and services to help the holder plan for financial security; investigate, if required, and pay benefits under the plan; create and maintain records concerning our relationship as appropriate; and, fulfil such other purposes as are directly related to the preceding. The Issuer may use service providers within or outside Canada. Personal information concerning the holder will only be available to the holder, plan sponsor, government authorities, the Issuer, its affiliates, and any duly authorized employees, agents and representatives of the Issuer or its affiliates, within or outside Canada, for or related to the purpose of the plan, except as otherwise may be required, authorized or allowed by law or legal process, or by the holder. In all cases, availability is subject to lawful determination by the Issuer. Personal information is collected, used, disclosed, or otherwise processed or handled in accordance with governing law, including applicable privacy legislation, and the holder s personal information may be subject to disclosure to those authorized under applicable law within or outside Canada. SECTION 10 ELECTION FOR REGISTRATION I apply for membership in the tax-free savings account and authorize the plan sponsor to act as my agent for the purpose of the plan. I request that the Issuer file an election with the Minister of National Revenue to register the qualifying arrangement as a tax-free savings account under the Income Tax Act (Canada) and any similar provincial law. My tax-free savings account will be effective on the date this application is signed. SECTION 11 SIGNATURE I confirm the information on this form and will update it in the future as it changes. I am aware of the reasons the information covered by my authorizations and consents is needed, and the benefits of, and the risks of not, authorizing/consenting. I authorize and consent to the Issuer collecting, using, and disclosing personal information concerning me for the purposes outlined in the Confidential Information File section. This authorization and consent is given in accordance with applicable law and without limiting the authorizations and consents given elsewhere in this application. My authorizations and consents will begin the date this application is signed and end when no longer required. My authorizations and consents may be revoked at any time by either written or electronic notification to the Issuer, subject to legal and contractual considerations. A reproduction of my authorizations and consents will be as valid as the original. If I cease to be eligible to participate in the plan, my tax-free savings account will be transferred to a new policy/plan number with the Issuer unless the Issuer receives other instructions from me, and I hereby appoint the Issuer as my agent for any related purpose. Signature of holder Date President and Chief Executive Officer President and Chief Operating Officer, Canada 16 Page 2 of 2

17 C Application for membership in a non-registered savings plan Return to Great-West Life, Group Retirement Services 255 Dufferin Avenue, T540, London, ON N6A 4K SECTION 1 EMPLOYER/PLAN SPONSOR INFORMATION Name of employer/plan sponsor Policy/plan number Great-West Life, NextStep SECTION 2 ISSUER INFORMATION The non-registered savings plan is issued by London Life Insurance Company (the Issuer) 255 Dufferin Avenue, London, ON N6A 4K1. London Life is a subsidiary of Great-West Life. The Great-West Life Assurance Company and key design are trade-marks of Great-West Life, used under licence by London Life for the promotion and marketing of insurance products. SECTION 3 APPLICANT INFORMATION (all fields must be completed) (please print) Last name Middle initial First name Social insurance number (SIN) Date of birth Language address - - Male English I authorize the use of my SIN for tax reporting, Required for online access and to information about the plan yyyy mm dd identification and record keeping Female French or services connected with it Address (apt. no., street no., street) City Province Postal code Telephone no. Alternate telephone no. - - Ext. - - If the above address is a PO box, general delivery or rural route, also include the civic or street address below Address (apt. no., street no., street) City Province Postal code Are you a United States citizen or U.S. resident for tax purposes? Yes No If yes, provide taxpayer identification number (TIN): Are you a resident for tax purposes in a country or region other than Canada or the United States? Yes No If yes, provide jurisdiction(s) of residence for tax purposes and taxpayer identification number Failure to answer may require the Issuer to report to Canada Revenue Agency that a response was not received SECTION 4 TRANSFER FUNDS Yes, I have investments with other financial institutions that I would be interested in transferring to this plan. Please contact me. Please call me at: Daytime number Evening number SECTION 5 BENEFICIARY INFORMATION Primary beneficiary(ies) on my death Relationship of beneficiary to me Select box below OR Specify under Other Last name First name Date of birth Married Quebec Common-law civil union partner yyyy mm dd spouse Other (child, friend, etc.) % of benefit Total 100% Unless the law requires otherwise, if one of my primary beneficiaries predeceases me, their share will be paid to the surviving primary beneficiaries in equal shares, or if there is no surviving primary beneficiary(ies), to my contingent beneficiary(ies) named below. If there is no contingent beneficiary(ies), the benefit will be paid to my estate. Contingent beneficiary(ies) on my death Date of birth % of Last name First name yyyy mm dd Relationship of beneficiary to me benefit Total 100% Where permitted by law, these designations are for all benefits payable under the plan. All beneficiary designations are revocable except: where a Designation of irrevocable beneficiary form is completed where Quebec law applies and I have designated my married or civil union spouse as my beneficiary - the box below applies. Where Quebec law applies: If I designate my married or civil union spouse as my beneficiary, they will be irrevocable unless I check the box below. If not, restrictions will apply, unless I obtain the consent of my spouse. For example, I will be prevented from changing my beneficiary, making withdrawals (where permitted) or exercising certain other rights. I designate my married or civil union spouse as my revocable beneficiary. Where a minor beneficiary or a person who lacks legal capacity resides in Quebec - Benefits payable under this plan to a beneficiary who, at the time payment is to be made, is a minor or lacks legal capacity, will be paid to their tutor(s) or curator, unless a valid trust has been established for the benefit of the beneficiary, by will or by separate contract, to receive any such payment and the Issuer has been provided notice of the trust. If a trust has already been established, designate the trust as the beneficiary in this section. Before designating a trust, legal advice should be sought. 17 Page 1 of 2

18 Application for membership in a non-registered savings plan (continued) SECTION 6 TRUSTEE APPOINTMENT (to be completed if any of the beneficiaries are minor or otherwise lack legal capacity AND DO NOT RESIDE IN QUEBEC) If a formal trust does not exist, I hereby appoint: Full name of trustee being appointed (last name, then first) Trustee for (indicate beneficiary name) Relationship of trustee to me as trustee to receive, in trust, all benefits payable to any beneficiary designated under the plan who, at the time benefits are paid, is a minor or lacks legal capacity to give a valid discharge according to the laws of the beneficiary s domicile. Payment of benefits to the trustee discharges the Issuer to the extent of the payment. I authorize the trustee in their sole discretion to use the benefits for the education or maintenance of the beneficiary and to exercise any right of the beneficiary under the plan. The trustee may, in addition to the investments authorized for trustees, invest in any product of, or offered by the Issuer or its affiliated financial institutions. The trust for any beneficiary will terminate once that beneficiary is both of age of majority and has legal capacity to give a valid discharge. I direct the trustee to deliver at that time to the beneficiary the assets held in trust for that beneficiary. I or my personal representative may by writing appoint a new trustee to replace the former trustee. SECTION 7 INVESTMENT SELECTION If investment instructions are not provided on this application, new contributions will be invested in the Moderate Profile Fund. Investment instructions can be updated at any time through the GRS Access website or by calling Access Line at The Issuer offers a selection of investment options. Contributions directed to variable investment funds are not guaranteed and will increase or decrease in value according to fluctuations in the market value of the assets. Name of investment and/or code Percentage Name of investment and/or code Percentage SECTION 8 CONFIDENTIAL INFORMATION FILE % % % % % % % % % % % % Total allocation must equal 100% The Issuer will establish a confidential information file that contains personal information concerning the applicant. By submitting a written request to the Issuer, the applicant may exercise rights of access to, and rectification of, the file. The Issuer will collect, use and disclose the applicant s personal information to: process this application and provide, administer and service the plan applied for (including service quality assessments by or on behalf of the Issuer); advise the applicant of products and services to help the applicant plan for financial security; investigate, if required, and pay benefits under the plan; create and maintain records concerning our relationship as appropriate; and, fulfil such other purposes as are directly related to the preceding. The Issuer may use service providers within or outside Canada. Personal information concerning the applicant will only be available to the applicant, plan sponsor, pension and related government authorities, the Issuer, its affiliates, and any duly authorized employees, agents and representatives of the Issuer or its affiliates, within or outside Canada, for or related to the purpose of the plan, except as otherwise may be required, authorized or allowed by law or legal process, or by the applicant. In all cases, availability is subject to lawful determination by the Issuer. Personal information is collected, used, disclosed, or otherwise processed or handled in accordance with governing law, including applicable privacy legislation, and the applicant s personal information may be subject to disclosure to those authorized under applicable law within or outside Canada. For more information about our privacy practices, please ask for a copy of our Privacy Guidelines brochure. SECTION 9 SIGNATURE I apply for membership in the plan and appoint the plan sponsor as my agent for the purpose of the plan. I confirm the information on this form is complete and accurate and will update it in the future as it changes. I am aware of the reasons the information covered by my authorizations and consents is needed, and the benefits of, and the risks of not, authorizing/consenting. I authorize and consent to the Issuer collecting, using, and disclosing personal information concerning me for the purposes outlined in the Confidential Information File section. This authorization and consent is given in accordance with applicable law and without limiting the authorizations and consents given elsewhere in this application. My authorizations and consents will begin the date this application is signed and end when no longer required. My authorizations and consents may be revoked at any time by either written or electronic notification to the Issuer, subject to legal and contractual considerations. A reproduction of my authorizations and consents will be as valid as the original. If I cease to be eligible to participate in the plan and do not make an election in accordance with the plan terms, the Issuer is authorized to exercise transfer or withdrawal options provided in the plan, and I hereby appoint the Issuer as my agent for this and any related purpose. Signature of applicant Date 18 Page 2 of 2

19 1. Interpretation In this Declaration, Agent means London Life Insurance Company which is appointed pursuant to section 11 and any successor agent thereto. The Agent acts as such for the Trustee for all purposes set out in section 11 with respect to the administration of the Plan; and any successor agent thereto; Application means the completed Application for membership in a trusteed retirement savings plan; Applicable Laws means the ITA and any other applicable legislation including provincial tax legislation and provincial and federal pension legislation in the case of locked-in funds. Applicable Laws shall include any amendments occurring from time to time; Common-law Partner has the meaning given to it under the ITA; ITA means the Income Tax Act (Canada) and any regulations thereto as amended from time to time; Latest Maturity Date means December 31 of the calendar year in which the Member attains the maximum age for maturity provided under the ITA; Maturity Date means the Latest Maturity Date or such earlier date as selected by the Member; Member means an employee of the Plan Sponsor or a member of an association (where the Plan Sponsor is an association), or if included by the Plan Sponsor, that person s Spouse or Common-Law Partner, for whom benefits are to be provided under the Plan. The Member is the annuitant as stated on the application for membership and is the annuitant/owner as defined under the Applicable Laws; Plan means the Plan Sponsor s Trusteed Group Retirement Savings Plan which is made up of the completed Application, the Trustee s acceptance of it, this Declaration of Trust and any amendments and, to the extent applicable, the addendum referred to in paragraph 21; Plan Sponsor means the employer or association sponsoring this Group Retirement Savings Plan, and as applicable, includes any other employers authorized to participate in the Plan; Property means all money and investments held under the Plan from time to time, including all income earned on and all proceeds of that Property. Where the Trustee invests in one or more group annuity contracts for the benefit of the Members, such contracts become the Property; Retirement Income has the same meaning as it does under the ITA and shall only include such forms of retirement income as are permitted under that act; Retirement Income Fund has the same meaning as it does under the ITA; Spouse has the same meaning given to it under the ITA; Trustee means Investors Group Trust Co. Ltd. Any reference to any person (including a corporation) in the Plan will include that person s successors and assigns. 2. Declaration and Registration The purpose of this trust is to provide a retirement income to the Member in accordance with the terms of this Declaration of Trust. The Trustee declares that, upon acceptance of the Member s completed Application, it will become the trustee of the Plan. The Trustee is responsible for the administration of the Plan and will hold the Property in trust in accordance with the Plan and the Applicable Laws. The Trustee will apply for registration of the Plan under all Applicable Laws. The Trustee will issue a Declaration of Trust to the Member. 3. Terms of the Plan In addition to the other terms of the Plan, (a) no advantage, except as generally permitted under the Applicable Laws, that is conditional in any way on the existence of the Plan may be extended by the Trustee to the Member or any person with whom the Member is dealing at arm s length; (b) the Member may not engage in any transaction, investment, payment or transfer which is or may be an advantage, an RRSP strip or a swap transaction under Part XI.01 of the ITA, and the Trustee reserves the right to prohibit any transaction, investment, payment or transfer, whether an advantage, an RRSP strip or a swap transaction under the ITA, or such other payment or transfer which is or may be prohibited or penalized under the ITA; (c) no payment of a benefit under the Plan before the Maturity Date will be made except (i) to the Member or the Member s designated beneficiary or (ii) a refund of premiums in a lump sum; (d) no payment of any benefit after the Maturity Date will be made except (i) by way of a Retirement Income to the Member, (ii) to the Member in full or partial commutation of a Retirement Income, or (iii) a commutation as a result of any annuity becoming payable to a person other than the Member or the Member s Spouse or Common-law Partner; (e) no payment of any premium will be made after the Maturity Date, and (f) the Property may not be charged or assigned to any other person unless otherwise permitted by Applicable Laws and approved by the Trustee. Group Retirement Savings Plan Declaration of Trust Member s copy Keep for your records March 2016 (RSP and RSP ) 1 of Plan Sponsor The Plan Sponsor has been appointed the agent of the Member for the purposes of the Plan, including the provision of personal information, as applicable, to the Trustee. 5. Contributions The Trustee will allocate contributions to a separate account for each Member. Where applicable, such accounts may be created and administered by the Agent as accounts under a group annuity contract owned by the Trustee on behalf of the Plan. The Trustee may receive contributions to the Member s Plan from the Member, the Member s Spouse or Common-law Partner, if applicable, the Plan Sponsor, or transfers in from other plans or institutions if permitted by the Plan Sponsor at any time prior to the Maturity Date. The Trustee has no obligation to collect any contributions not voluntarily paid. If any contribution is not accompanied by an investment direction, the Trustee will invest the amounts in accordance with the last investment direction on file or, if none exists, in the default investment for the Plan. The Trustee may limit or refuse any contribution to the Plan. The Member alone is responsible for ensuring that contributions to the Plan do not exceed the maximum limits allowed by the Applicable Laws. 6. Refund of Amounts On receipt of a satisfactory direction from the Member, the Trustee will make payment to the taxpayer (being either the Member or the Member s Spouse or Common-law Partner) to reduce taxes otherwise payable under Part X.1 or Part XI.01 of the ITA. 7. Property The Trustee will either keep the Property of the Plan with a depository for securities or institution authorized to act as a custodian or invest it in one or more group annuity contracts issued by London Life Insurance Company or its affiliated insurance companies. Intangible or uncertificated Property will be represented by appropriate registrations or notations in the Trustee or the Trustee s agent s records or registers. The Property may be represented in bulk certificates, records of deposit or other records and that such bulk certificates or records may also represent other accounts securities of the same nature and class. The Trustee will, to the extent required by governing legislation, hold the Property of the Plan separate and distinct from its own property. Cash balances in the Plan may be deposited with the Trustee or any financial institution selected by it, including any of its affiliates and the Trustee shall not be accountable for any profit earned thereon and may, but will not be required to, allow for interest, if any, on such cash balances on such terms and in such amounts as the Trustee, or such other institution, may determine. 8. Investments The Trustee shall not assess the merits of the investments made available under the Plan or the specific investment requests of a Member or a Member s agent. It is the responsibility of the Plan Sponsor to select the investment options available under the Plan and to determine that any such investment option is or remains a qualified investment within the meaning of the Applicable Laws. However, the Trustee will exercise the care, diligence and skill of a reasonably prudent person to minimize the possibility that the Plan holds a non-qualified investment as required by the Applicable Laws. The Trustee shall have the widest investment powers and shall not be limited to those investments authorized by legislation governing the investment of property held in trust. However the Trustee may impose policies and requirements in its sole discretion from time to time, including but not limited to the requirement to provide documentation and the requirement to comply with any policies and procedures currently in place or imposed in the future made in connection with securities held in the Plan. Where the Trustee invests and re-invests all cash and other Property in one or more group annuity contracts, the Trustee will be the policyowner of such contracts. The Trustee will invest and re-invest all cash and other Property in accordance with the Member s requests or those of the Member s agent (in a form acceptable to the Trustee) unless the proposed investment does not comply with the policies and requirements imposed by the Trustee in its sole discretion from time to time. The Trustee will not accept any investment direction concerning assets other than those offered under this Plan. If an investment certificate credited to the Plan matures and the Trustee has not received, prior to such maturity, the Member s investment requests, the Trustee shall reinvest such proceeds in a new investment certificate for the equivalent term as the matured investment. The Trustee may refuse to invest or impose restrictions on investing amounts invested in investment certificates, and income earned thereon, prior to their maturity date. The Plan Sponsor or Member shall, upon request of the Trustee, promptly provide the Trustee with the current fair market value of any investment held in the Plan for which there is no published market price. The Trustee is not responsible for investment decisions and shall not be liable for any loss in the value of the Plan or the investments made under the Plan. The Trustee is not responsible for any investment or tax advice provided to the Member by any third party or agent. Any financial advisor or dealer who acts in connection with the Plan and any third party from whom the Member obtains Page 1 of 3

20 investment, tax or other advice, is acting as an agent of the Member and not an issuer of another plan, provided that such issuer is an issuer of plans to which agent of the Trustee or the Trustee s affiliates. retirement savings plans can be transferred under the Applicable Laws. The 9. Statements and Receipts Member will arrange for delivery to the Trustee of any documentation which the The Trustee will provide the Member with periodic statements of the Plan. The Trustee may require prior to such transfer. To the extent any of the Property Member will review the statements carefully and, unless the Member notifies the matures on a fixed date, the Trustee may, in its discretion, decline to make a Trustee in writing of any errors, omissions or objections within 60 days of the requested transfer until such time as that Property has matured. date of receipt by the Member, the statement and the transactions reflected 18. Restrictions on Withdrawals and Transfers thereon will be deemed to be complete and accurate. The Trustee will provide Notwithstanding paragraphs 16 and 17, the Plan Sponsor may impose additional the Member or the Member s Spouse or Common-law Partner, if applicable, with restrictions on withdrawals and/or transfers to which the Member will be subject the necessary tax receipts for contributions to the Plan. during the duration of the Member s eligibility under the Plan. 10. Additional Powers of the Trustee 19. Ceasing to be Eligible The Trustee will have, in addition to any other powers to which trustees may be The Plan Sponsor will notify the Trustee if the Member ceases to be an eligible entitled by law or granted under this Declaration of Trust, all of the following participant in the Plan or if the Plan is to be discontinued. Upon receipt by the powers in the administration of the Plan which the Trustee may, but is not Trustee of such notice, the Trustee may refuse to accept further contributions to required to, exercise in its sole discretion: (a) to generally act and exercise all the Plan. Unless the Member directs the Trustee otherwise within 30 days of rights as owner (or full administrator, in Quebec) of all Property of the Plan; (b) to receipt of such notice, the Trustee is authorized but not required to transfer the pay all taxes levied or assessed under all Applicable Laws in respect of the Plan Property to another registered retirement savings plan on the Member s behalf or or any Property thereof; and (c) to exercise and deliver, as trustee, all may distribute the Property or its proceeds to the Member and the Member instruments necessary for the accomplishment of these and any other powers hereby appoints the Trustee as the Member s attorney in fact to execute all such set out in this Declaration of Trust. documents and to make all such elections as are necessary or desirable to effect 11. Delegation of Trustee Responsibilities the foregoing. The Member understands that there may be substantial adverse The Trustee is expressly authorized to delegate any of the duties under the Plan consequences for the Member s failure to ensure an appropriate transfer. The as the Trustee, in its sole discretion, may determine to one or more agents Trustee will not be liable for any resulting loss. (including its affiliates), including, without limitation, receiving, investing and reinvesting the Property; holding all or any portion of the Property in safe-keeping, At least 90 days before the Maturity Date, the Member will provide the Trustee 20. Maturity maintaining Plan records and accounting for the Property; providing account with instructions in a form satisfactory setting out the specific income option the statements; and preparing forms required by the Applicable Laws. The Agent Member has chosen to purchase. Upon receipt of such instructions, the Trustee has been or will be appointed as Agent for these and other purposes and that will apply the proceeds of the Property to the purchase of a Retirement Income the Agent may further sub-delegate these tasks in accordance with its or Retirement Income Fund for the Member according to the Member s agreement with the Trustee. The Trustee may also employ professional advisors instructions and the requirements of the Applicable Laws. On the Maturity Date, such as lawyers or auditors to assist with its duties and the Trustee is entitled to if the Member has failed to provide satisfactory instructions, the Trustee may rely or not to rely on their advice and to act accordingly as it chooses. liquidate the Property and apply the proceeds to the purchase of a Retirement Notwithstanding the delegation of duties to an agent, ultimate responsibility for Income Fund from the issuers of Retirement Income Funds, including the the administration of the Plan will remain with the Trustee. Trustee and its affiliates, as the Trustee in its sole discretion may select and the 12. Fees and Disbursements Member hereby appoints the Trustee as the Member s attorney in fact to execute The Trustee will be entitled to charge fees as established by the Trustee or all such documents and to make all such elections as are necessary or desirable Agent from time to time and to be compensated for any expenses, including the to effect the foregoing. The Trustee will not be liable for any resulting loss. fees and expenses of agents or other advisors, incurred in the administration of Any annuity which is the Member s Retirement Income under the Plan must the Plan by the Trustee. The Trustee will provide the Plan Sponsor with 30 days conform to the requirements of the Applicable Laws which require that, among prior notice of any change in fees. other things: (a) the annuity provide equal annual or more frequent payments to the Member (or to the Member until the Member s death and then to the 13. Compliance with Law and Access to Information Member s Spouse or Common-law Partner) until there is a payment in full or The Trustee will comply with any law, regulation or order now or hereafter in partial commutation of the annuity; (b) where the commutation referred to in (a) effect which purports to impose a duty on the Trustee to take or refrain from is partial, equal annual or more frequent periodic payments must be made taking any action in connection with the Plan and the Property. The Trustee may afterwards; (c) payments may not exceed a term of years equal to 90 less either also allow any authorized party to examine and make copies of any records or the Member s age (in whole years) or, if the Member s Spouse or Common-law documents connected with the Plan. Partner is younger than the Member, the Member s Spouse or Common-law 14. Beneficiary Designation Partner s age (in whole years) at the time the annuity is purchased; (d) payments If permitted by law, the Member may designate one or more beneficiaries to to the Member s Spouse of Common-Law Partner in any year after the Member s receive the proceeds payable under the Plan in the event of the Member s death death may not be greater than payments made in a year before the Member s prior to the Maturity Date. Such designation must be made in a form satisfactory death; and (e) if the annuity becomes payable to a person other than the to the Trustee, must clearly identify the Plan and the beneficiary and must be Member, the Member s Spouse or Common-law Partner, the value of annuity delivered to the Trustee during the Member s lifetime. If the Trustee has received payments must be commuted. The Member s Retirement Income may not be more than one designation of beneficiary from the Member, the Trustee shall assigned at any time in whole or in part. make payment only in accordance with the one bearing the latest execution 21. Locked-in Plans date. Where the Plan invests in one or more group annuity contracts and the If the Plan Sponsor permits locked-in monies to be transferred to the Plan and member resides in the Province of Quebec, the Trustee shall apply any such funds are transferred to the Plan in accordance with Applicable Laws, this beneficiary designation, change or revocation of such designation, by a Member declaration will include the additional provisions contained in the applicable to their interest in such group annuity contracts, and any death benefit payable Locked-in RSP / LIRA / RLSP Addendum. In the event of any inconsistency under the Plan shall be satisfied by payment of the death benefit under such between the provisions of this Declaration of Trust and the provisions of the contract(s). addendum, the provisions of the addendum will apply. 15. Death 22. Amendment If the Member dies prior to the Maturity Date, the Trustee may, in its sole The Trustee may amend the Plan in its sole discretion: (a) without notice or the discretion, either maintain the Property in the form of investments or realize on Member s consent for the purpose of satisfying a requirement imposed by law or the Property. Upon receipt of all documentation that the Trustee may require, and to the extent such amendment will not in its sole discretion adversely affect the subject to any restrictions as to realization or transfer to which the Property may Member s rights under the Plan; or (b) otherwise on notice to the Member, be subject, the Trustee will transfer the Property or the proceeds of realization in provided that, in neither case will such amendment disqualify the Plan from a lump sum to the person or persons whom the Trustee determines have the registration under the Applicable Laws on its effective date. legal right to receive it. Where the Property consists entirely of one or more group annuity contracts, any death benefit payments made under such contracts will be 23. Resignation and Successor Trustee in full and final satisfaction of any death benefits payable under the Plan. The Trustee may resign at any time on 60 days prior notice to the Agent and Plan Sponsor and shall do so if at any time requested to do so by the Agent or 16. Withdrawals the Plan Sponsor. On resignation, the Agent is initially appointed to appoint a At any time prior to the purchase of a Retirement Income by the Member, the successor trustee. If the Agent fails to appoint a successor trustee, the Plan Member may request a withdrawal from the Plan by giving such request in Sponsor is required to do so. If both the Agent and the Plan Sponsor fail to satisfactory form to the Trustee. The Trustee will pay the Member in cash unless appoint a successor trustee, then the Trustee may appoint the Member to the Member specifies otherwise. In order to make payment to the Member, the appoint a successor trustee. If a successor trustee is not appointed prior to the Trustee may have to realize, to the extent necessary, on the Property and expiration of the notice period above, the Trustee, at its option may, either (a) payment of such proceeds will be made as soon as reasonably practicable appoint, if possible, a successor trustee and transfer the Property and/or the following such realization. To the extent any of the Property matures on a fixed proceeds received from the realization of the Property to such successor trustee, date, the Trustee may impose restrictions on payments until such time as such or (b) terminate the Plan and transfer the Property and/or the proceeds received Property has matured. All withdrawals will be made net of all proper charges, from the realization of the Property to the Member or as directed by the Member including any tax withholding requirements. subject to any withholdings and deductions as may be appropriate or required by 17. Permitted Transfers law in the Trustee s determination. At any time prior to the purchase of a Retirement Income, the Member may direct the Trustee to transfer the Property (provided it is transferable) to the 20 Page 2 of 3 March 2016 (RSP and RSP ) 2 of 3

21 There may be substantial adverse consequences for a failure to appoint a successor trustee or arrange for an appropriate transfer. Upon the transfer of the Property or proceeds of realization of the Property to the Member, anyone whom the Member may direct, or a successor trustee selected by the Agent, the Plan Sponsor or the Member, the Trustee will be discharged from all obligations under the Plan. 24. Indemnity The Member, the Member s legal representative and any designated beneficiary hereby release the Trustee, and the officers, employees, the Agent and any other agents of the Trustee (in this section the Releasees ), from and against any claim which the Member has or may have and will at all times indemnify the Trustee and Releasees and save them harmless from and against any liabilities or claims which may be made against them in respect of the Plan, the purchase, sale or retention of any Property, and the administration of the Plan generally, including, without limitation, arising out of: (a) any loss to or diminution of value of any Property or the consequences of any Property not qualifying under the Applicable Laws; (b) the manner or otherwise of any liquidation or realization of Property; (c) any transfer, payment or other distribution of the Property under this Declaration of Trust; (d) any action the Trustee or the Releasees take in reliance on the Member s requests as delivered by the Member directly or through the Plan Sponsor without any duty to investigate, clarify or authenticate any such requests; and (e) any other action or determination which the Trustee or Releasees are authorized or instructed to make hereunder save and except to the extent such liabilities or claims are established by a court of law to have been made as a result of their gross negligence or willful misconduct. For greater certainty, where the Plan requires the Member to indemnify the Trustee or protects the Trustee from liability, the relevant terms of the Plan shall also apply to the Agent as if specifically referenced therein. 25. Deduction and Realization To the extent that the Member or the Plan Sponsor have not already paid the Trustee for any charges for fees or expenses, including for any taxes levied or assessed in respect of the Plan or in respect of any indemnities contained herein, the Member authorizes the Trustee to satisfy such amounts by withdrawal from cash deposits from the Plan, deduction from any disbursements of the Property or, to the extent that these are not sufficient, realize on the Property to satisfy such amounts in such manner as the Trustee may, in its sole discretion, determine, provided however that the Trustee is not liable or responsible for any tax except where required under the Applicable Laws or any loss arising from the exercise of its powers hereto. The Member will remain liable to the Trustee for any deficiencies. 26. Notices The Member will give the Trustee any notice, request or other communication required or permitted to be given under the Plan in such form as is satisfactory to the Trustee. Such notices will not be deemed to be received until actually received by the Trustee or the Agent if so directed. Any notices or requests to be delivered by the Member to the Trustee may, at the Member s option, be delivered to the Trustee by the Plan Sponsor, as the Member s agent and the Trustee shall be entitled to rely on any such notices or requests without any investigation or inquiry. The Trustee will give notice provided for under the Plan by ordinary mail or delivery to the address appearing on its records for the Member and such notice will be considered to have been received three days after its mailing or forwarding for delivery. 27. Birth Date and SIN The Member will provide the Trustee with any further evidence of the Member s (or the Member s Spouse or Common-law Partner s) birth date or social insurance number that the Trustee may require. 28. Governing Law This Declaration of Trust and any amendments hereto will be governed, construed and enforced in accordance with the laws of Ontario and Canada. 21 Page 3 of 3

22 Group Tax-free Savings Account - Member s Certificate Policy/Plan No London Life Insurance Company will pay benefits in accordance with this certificate. Section 1. Interpretation In this Plan: Administrative Rules means the rules and procedures of the Issuer relating to the operation of the Plan. Applicable Legislation means the Income Tax Act and any other legislation affecting tax-free savings accounts. Common-law Partner has the meaning given to it under the Income Tax Act. Contributions means amounts paid to the Issuer by the Member and includes a transfer from any source permitted under the Income Tax Act. Head Office means the head office of the Issuer, located in London, Ontario, Canada, or such other administration office of the Issuer servicing the Plan, as may be communicated to the Plan Sponsor. Income Tax Act means the Income Tax Act (Canada) and regulations, as amended. Investment Option means any of the guaranteed investments and variable investment funds available under the Plan. Investment Rules means the rules and regulations of the Issuer relating to the management of an Investment Option. Issuer means London Life Insurance Company. Maturity Date of this certificate means the date the Member attains age 100. Member means the holder as stated on the application for membership who has attained the minimum age for entering into a tax-free savings account provided under the Income Tax Act and for whom benefits are to be provided under the Plan. The Member must qualify as a holder under the Income Tax Act. Plan means the Plan Sponsor s Tax-free Savings Account qualifying arrangement. Plan Sponsor means the employer, association or other organization sponsoring this Tax-free Savings Account, and as applicable, includes any other employers authorized to participate in the Plan. Spouse means an individual who is recognized as a spouse under the Income Tax Act. Successor Member means the Member s Spouse or Common-law Partner who has been appointed by the Member to be the successor holder under the Plan on the death of the Member and who is the Member s Spouse or Common-law Partner at the time of the death of the Member. Section 2. Group Plan This certificate describes the rights and benefits of a Member of the Plan. The Plan will be maintained for the exclusive benefit of the Member, disregarding the right of a person to receive a payment out of or under the Plan on or after the death of the Member. Contributions to the Plan will be used, invested and applied for the purpose of making distributions to the Member as permitted under the Income Tax Act. While there is a Member, no person other than the Issuer and the Member will have any rights under the Plan relating to the amount and timing of distributions and the investing of contributions. Section 3. Plan sponsor as Agent The Plan Sponsor is required to provide the Issuer with any information or instructions required by the Issuer to administer the Plan. The Issuer is entitled to rely on any information or instructions provided to it by the Plan Sponsor respecting a Member or on behalf of a Member as if such information or instructions were provided to the Issuer directly by the Member. Upon joining this Plan, the Member appoints the Plan Sponsor as the Member s agent for all purposes in connection with the provision of information or instructions to the Issuer respecting the Plan until such time as the Issuer receives notice that the Member is no longer a Member of the Plan. Section 4. Investment Rules The Issuer has established Investment Rules relating to the management of the guaranteed investments and variable investment funds available under the Plan. The operation of the Plan and the rights of the Members will be subject to the Investment Rules. The Issuer may amend the Investment Rules at any time and will provide the Plan Sponsor with prior notice of material changes wherever possible. From time to time changes to the Investment Rules may be imposed on the Issuer by funds managers and in those circumstances prior notice may not be possible. Section 5. Contributions The Issuer will establish separate accounts for each Member and Contributions received on behalf of each Member will be allocated to the Member s account. It shall be the responsibility of the Member to ensure all Contributions are within the contribution limits for tax-free savings accounts permitted by the Income Tax Act and to ensure contributions are not made if the Member is a non-resident of Canada. Section 6. Investment Options Contributions will be invested in one or more of the various Investment Options which the Issuer makes available to the Plan from time to time, as directed by the Member, and will be allocated to the Member s account. If no election has been made by the Member, new Contributions will be invested in the default Investment Option(s) selected for the Plan. Contributions invested in an Investment Option will be subject to the Investment Rules. The Issuer may amend the terms of any Investment Option or add or withdraw any Investment Option at any time. The Issuer will provide 60 days notice to the Plan Sponsor of any material change to an Investment Option. a) Guaranteed Investments Contributions may be invested in guaranteed investments of various durations at guaranteed interest rates. Investments in the guaranteed investments described in this certificate are guaranteed both as to principal and interest. Contributions invested in a guaranteed investment will earn interest in the manner and at the rate applicable to that investment in accordance with the Investment Rules. The interest rate on any such investment is compounded daily and guaranteed until the end of the month in which the selected interest guarantee period expires. At the end of the interest guarantee period of any guaranteed investment, the Member may select any new interest guarantee period the Issuer is then offering, so long as it does not extend beyond the Maturity Date of this certificate. Alternatively, the Member may select any other Investment Option the Issuer is then offering. If no selection has been made by the Member, the Contributions and interest will be reinvested for the same term, at the guaranteed interest rate in effect at the time of reinvestment. Subject to the terms of this certificate, the Member may withdraw amounts from any guaranteed investment before the end of the interest guarantee period. If Contributions are withdrawn from a guaranteed investment, the value withdrawn will be calculated in accordance with the Schedule of Fees applicable to the Plan. b) Variable Investment Funds Contributions may be invested in variable investment funds. These funds are segregated funds offered and administered by London Life Insurance Company. Contributions invested in a variable investment fund are not guaranteed either as to earnings or as to principal. The value of the Member s account in a variable investment fund will fluctuate with the financial experience of the fund. The assets of a variable investment fund belong to the Issuer but they are available only for the benefit of unit holders of the fund. If the Member invests a Contribution in a variable investment fund the Member will acquire units in the fund equal to the value of the Member s Contribution on the date the investment is made. The Issuer determines the value of the units of a variable investment fund on each valuation date of that fund and investments into and withdrawals from a fund can only be made on a valuation date. Most funds offered by the Issuer are valued on a daily basis but the Issuer may value funds less frequently in accordance with the Investment Rules. The unit value of a fund on a valuation date is determined by dividing the value of the assets of the fund, less the investment management fee described below, by the number of units in the fund immediately before the valuation date. An investment management fee is charged and includes a fee for managing the variable investment funds, a fee for providing other services under the Plan and may include an amount for administrative expenses and other services under the Plan in accordance with the Schedule of Fees applicable to the Plan. This fee may either be deducted from the value of the assets of the fund (as part of the calculation of the unit value of a fund), or with the consent of the Issuer, the Plan Sponsor may elect to pay this fee separately. Section 7. Benefits - Income at Maturity If the Member is living on the Maturity Date the Issuer will liquidate the value of funds held in the Member s account and will either pay the proceeds in cash to the Member or apply the value to provide a life annuity to the Member. If an annuity is selected, the Issuer undertakes to provide an annuity that provides for annuity payments in equal periodic amounts payable yearly or more frequently. The annuity will be issued in accordance with the Issuer s rules and issue rates for annuities which are then applicable. The Member must provide the Issuer with satisfactory proof of the date of the Member s birth and sex on or before the Maturity Date. If there has been any misstatement, the Issuer will make any adjustments it considers equitable. 22 Page 1 of 2

23 Section 7. Benefits - Income at Maturity (continued) However, if this certificate is governed by laws of the province of Quebec, an annuity will be provided to the Member on the Maturity Date. The amount of the annuity payments will be determined by multiplying the value of the Member s account (less any applicable fees and charges) one month before the date annuity payments commence by the greater of: i) the Issuer s then current annuity rate for a single life non-participating annuity with a guaranteed period of 10 years; and ii) for each $1,000 of the value: if the Member is male and the Member elects to commence annuity payments in the month next following the month the Member attains the age of 80 years, $5.10; in the month next following the month the Member attains the age of 90 years, $5.95; or if an election is not made the rate will be $5.96 in the month next following the Maturity Date when the Member attains age 100. if the Member is female and the Member elects to commence annuity payments in the month next following the month the Member attains the age of 80 years, $4.84; in the month next following the month the Member attains the age of 90 years, $5.92; or if an election is not made the rate will be $5.96 in the month next following the Maturity Date when the Member attains age 100. Section 8. Distribution of Funds The Member may withdraw all or part of the value of the Member s account by giving notice to the Issuer and may elect: i) to purchase any form of annuity that the Issuer is offering at that time; ii) to transfer the funds directly to another tax-free savings account as permitted under the Income Tax Act; or iii) to receive payment in cash. Without limiting the generality of the foregoing, the Member may make withdrawals at any time in order to reduce the amount of tax otherwise payable by the Member under sections or , or any successor provision, of the Income Tax Act in respect of contributions made while a non-resident of Canada or contributions in excess of the maximum contribution limits for taxfree savings accounts permitted by the Income Tax Act. The value of the Member s account will be reduced by the amount of any withdrawals. All such elections will be completed in accordance with the Administrative Rules and the Investment Rules. Section 9. Termination of Plan If the group policy of this Plan is terminated or if the Member ceases to be eligible to participate under the group policy, no further Contributions may be made under this certificate. When the Issuer receives notice that such an event has occurred, the Plan Sponsor will cease to be the Member s agent and the Issuer may, without accepting any obligation or responsibility to do so, withdraw (for Quebec, make a single annuity payment) or transfer the value of the Member s account from the Plan. The Issuer may exercise this right at any time. The Member will be given 60 days from the date the Issuer receives notice of the occurrence of the event to provide the Issuer with withdrawal or transfer instructions. If the Member does not provide such instructions within the 60 day period, the Member appoints the Issuer to act as the Member s agent for the purpose of completing an alternate tax-free savings account application on the Member s behalf or withdrawing the Member s funds from the Plan, as it considers appropriate. The Successor Member and/or beneficiary appointed by the Member under this certificate will also serve as the Successor Member and/or beneficiary under any alternate tax-free savings account issued to the Member by the Issuer to replace this certificate upon the termination of the group policy or the Member s eligibility to participate under the group policy, until and unless the Member alters or revokes such appointment(s). The Issuer may, on its own or at the request of the Plan Sponsor, resign as issuer, and allow for the appointment of a successor issuer. The Plan Sponsor will advise the Issuer of the identity of the successor issuer within 60 days of such resignation, and upon the transfer of all Plan assets to the successor issuer, the Issuer will be discharged from any further liability under the Plan. Section 10. Limitation of Liability The provision of a life annuity, or another form of annuity settlement option, or a withdrawal or transfer the value of the Member s account, will constitute a full and final settlement of the rights of the Member or beneficiary, as applicable, with respect to the Plan, as against the Plan Sponsor, any employers authorized to participate in the Plan, any agents of the Plan Sponsor, the Issuer and any agents of the Issuer. Section 11. Legal Actions Every action or proceeding against an insurer for the recovery of insurance money payable under the contract is absolutely barred unless commenced within the time set out in the Insurance Act (for actions or proceedings governed by the laws of Alberta and British Columbia), The Insurance Act (for actions or proceedings governed by the laws of Manitoba), the Limitations Act, 2002 (for actions or proceedings governed by the laws of Ontario), or other applicable legislation. For those actions or proceedings governed by the laws of Quebec, the prescriptive period is set out in the Quebec Civil Code. Section 12. Death of the Member The Member may designate a person to receive all amounts payable to a beneficiary under this certificate. The Member may change or revoke a revocable beneficiary designation as permitted by law. If the Member dies before the value of the Member s account has been distributed and has appointed a Successor Member, the Issuer will continue to maintain the Plan in the name of the Successor Member. The Successor Member will acquire all the Member s rights under the Plan, including the unconditional right to revoke any beneficiary designation made, or similar direction imposed, by the Member under the Plan or relating to the property held in connection with the Plan, and references to Member in this certificate will be deemed to mean the Successor Member. If the Member dies before the value of the Member s account has been distributed and has not appointed a Successor Member, the Issuer will withdraw the value of the Member s account and make payment to the beneficiary in one sum in accordance with the Issuer s then current practices. Section 13. Election for Registration under the Income Tax Act The Issuer will file an election to register the Plan as a tax-free savings account under the Income Tax Act. All rights of a Member are subject to the requirements of the Income Tax Act. Except as permitted under the Income Tax Act, no advantage that is conditional on the existence of the Plan or this certificate may be extended to a Member. Section 14. Taxes All fees and charges payable to the Issuer are net of any applicable taxes and any such taxes will be payable or recoverable in the same manner as the fees and charges to which they relate. Section 15. General Provisions Notice to the Plan Sponsor will be considered notice to each Member. The Issuer has the right to amend the terms of this certificate i) at any time and without notice or Member consent for the purpose of satisfying a requirement imposed by law or to the extent an amendment will not, in the Issuer s sole discretion, adversely affect the Member s rights under the Plan; or ii) otherwise on notice in writing to the Member, provided that, in neither case will such amendment disqualify the Plan from registration. If the Issuer agrees to amend or waive any provision of this certificate the amendment or waiver is effective only if it is in writing and signed on behalf of the Issuer by an authorized officer of the Issuer. This certificate and the Member s rights and benefits under this certificate are not assignable, except to the extent permitted under the Income Tax Act and any similar provincial legislation upon marriage or relationship breakdown. A Member or claimant may request copies of documents to which the individual is entitled to receive under the Applicable Legislation. All payments to or by the Issuer will be in legal Canadian currency. The Issuer may delegate some or all administrative functions to an agent. Notwithstanding any delegation to an agent, the ultimate responsibility for administering the Plan in accordance with the Plan s terms lies with the Issuer. The Plan is subject to the Applicable Legislation. To the extent of any inconsistency between the Plan and the Applicable Legislation, the Applicable Legislation will override the terms of the Plan. Paul A. Mahon President and Chief Executive Officer Stefan Kristjanson President and Chief Operating Officer, Canada 23 Page 2 of 2

24 Group Non-registered Savings Plan - Member s Certificate Policy/Plan No , 38028, 62396, London Life Insurance Company will pay benefits in accordance with this certificate. Section 1. Interpretation In this Plan: Administrative Rules means the rules and procedures of the Issuer relating to the operation of the Plan. Applicable Legislation means the Income Tax Act and any other federal or provincial legislation affecting non-registered savings plans. Contributions means amounts paid to the Issuer on behalf of a Member. Head Office means the head office of the Issuer, located in London, Ontario, Canada, or such other administration office of the Issuer servicing the Plan, as may be communicated to the Plan Sponsor. Income Tax Act means the Income Tax Act (Canada) and regulations as amended. Investment Option means any of the guaranteed investments and variable investment funds available under the Plan. Investment Rules means the rules and regulations of the Issuer relating to the management of an Investment Option. Issuer means London Life Insurance Company. Maturity Date of this certificate means the date the Member or annuitant attains age 100. Member means a person entitled to a benefit under the Plan.. The Member is the applicant as stated on the application for membership. Plan means the Plan Sponsor s Group Non-registered Savings Plan. Plan Sponsor means the employer or association sponsoring this Group Non-registered Savings Plan. Section 2. Group Plan This certificate describes the rights and benefits of a Member of the Plan. Section 3. Plan Sponsor as Agent The Plan Sponsor is required to provide the Issuer with any information or instructions required by the Issuer to administer the Plan. The Issuer is entitled to rely on any information or instructions provided to it by the Plan Sponsor respecting a Member or on behalf of a Member as if such information or instructions were provided to the Issuer directly by the Member. Upon joining this Plan, the Member appoints the Plan Sponsor as the Member s agent for all purposes in connection with the provision of information or instructions to the Issuer respecting the Plan until such time as the Issuer receives notice that the Member is no longer a Member of the Plan. Section 4. Investment Rules The Issuer has established Investment Rules relating to the management of the guaranteed investments and variable investment funds available under the Plan. The operation of the Plan and the rights of the Members will be subject to the Investment Rules. The Issuer may amend the Investment Rules at any time and will provide the Plan Sponsor with prior notice of material changes wherever possible. From time to time changes to the Investment Rules may be imposed on the Issuer by fund managers and in those circumstances prior notice may not be possible. Section 5. Contributions The Issuer will establish separate accounts for each Member and Contributions received on behalf of each Member will be allocated to the Member s account. Section 6. Investment Options Contributions will be invested in one or more of the various Investment Options which the Issuer makes available to the Plan from time to time, as directed by the Member and/or Plan Sponsor, as applicable, and will be allocated to the Member s account. If no election has been made by the Member, new Contributions will be invested in the default Investment Option(s) selected by the Plan Sponsor, or in a short-term guaranteed investment selected by the Issuer if a default has not been selected by the Plan Sponsor. Contributions invested in an Investment Option will be subject to the Investment Rules. The Issuer may amend the terms of any Investment Option or add or withdraw any Investment Option at any time. The Issuer will provide 60 days notice to the Plan Sponsor of any material change to an Investment Option. a) Guaranteed Investments Contributions may be invested in guaranteed investments of various durations at guaranteed interest rates. Investments in the guaranteed investments described in this certificate are guaranteed both as to principal and interest. Contributions invested in a guaranteed investment will earn interest in the manner and at the rate applicable to that investment in accordance with the Investment Rules. The interest rate on any such investment is compounded daily and guaranteed until the end of the month in which the selected interest guarantee period expires. At the end of the interest guarantee period of any guaranteed investment, the Member and/or Plan Sponsor, as applicable, may select any new interest guarantee period the Issuer is then offering, so long as it does not extend beyond the Maturity Date of this certificate. Alternatively, the Member and/or Plan Sponsor, as applicable, may select any other Investment Option the Issuer is then offering. If no selection is made, the Contributions and interest will be reinvested for the same term, at the guaranteed interest rate in effect tat the time of reinvestment. Subject to the terms of this certificate, the Member may withdraw amounts from any guaranteed investment before the end of the interest guarantee period. If Contributions are withdrawn from a guaranteed investment, the value withdrawn will be calculated in accordance with the Schedule of Fees applicable to the Plan. b) Variable Investment Funds The Issuer offers a variety of variable investment funds. Contributions invested in a variable investment fund are not guaranteed either as to earnings or as to principal. The value of the Member s account in a variable investment fund will fluctuate with the financial experience of the fund. The assets of a variable investment fund belong to the Issuer but they are available only for the benefit of unit holders of the fund. If the Member invests a contribution in a variable investment fund the Member will acquire units in the fund equal to the value of the Member s Contribution on the date the investment is made. The Issuer determines the value of the units of a variable investment fund on each valuation date of that fund and investments into and withdrawals from a fund can only be made on a valuation date. Most funds offered by the Issuer are valued on a daily basis but the Issuer may value funds less frequently in accordance with the Investment Rules. The unit value of a fund on a valuation date is determined by dividing the value of the assets of the fund, less the investment management fee described below, by the number of units in the fund immediate before the valuation date. An investment management fee is charged and includes a fee for managing the variable investment funds, a fee for providing other services under the Plan and may include an amount for administrative expenses and other services under the Plan in accordance with the schedule of fees applicable to the Plan. This fee may either be deducted from the value of the assets of the fund (as part of the calculation of the unit value of a fund), or with the consent of the Issuer, the Plan Sponsor may elect to pay this fee separately. Section 7. Benefits - Income at Maturity If the Member or annuitant is living on the Maturity Date the Issuer will liquidate the value of the funds held in the Member s account and will apply the value to provide an annuity to the Member under which periodic payments will be paid to the Member or annuitant for the Member s or annuitant s lifetime with payments guaranteed for 10 years. If the Member or annuitant prefers, by notice to the Issuer, the Member may elect another form of annuity settlement option that the Issuer is offering at that time. Annuity payments will be in equal periodic amounts payable yearly or more frequently. The annuity will be issued in accordance with the Issuer s rules and issue rates for annuities which are then applicable. The Member or annuitant must provide the Issuer with satisfactory proof of the date of the Member s or annuitant s birth and sex on or before the Maturity Date. If there has been any misstatement, the Issuer will make any adjustments it considers equitable. Annuity benefits payable to the surviving spouse of a Member or annuitant following the death of the Member or annuitant may not exceed the annuity payments which were being made to the Member or annuitant before the Member s or annuitant s death, except for increases due to indexing. At the date of the Member s or annuitant s death, the present value, as determined by the Issuer, of any remaining payments will be paid in one sum and the annuity will be terminated. 24 Page 1 of 2

25 If this certificate is governed by laws of the province of Quebec and the Group Non-registered Policy was established on or after March 1, 2006, the amount of the annuity payments will be determined by multiplying the value of the Member s account (less any applicable fees and charges) one month before the date annuity payments commence by the greater of: i) the Issuer s then current annuity rate for a single life non-participating annuity with a guaranteed period of 10 years; and ii) for each $1,000 of the value: if the Member or annuitant is male and the Member elects to commence annuity payments in the month next following the month the Member or annuitant attains the age of 80 years, $5.10; in the month next following the month the Member or annuitant attains the age of 90 years, $5.95; or if an election is not made the rate will be $5.96 in the month next following the Maturity Date when the Member or annuitant attains age 100. if the Member or annuitant is female and the Member elects to commence annuity payments in the month next following the month the Member or annuitant attains the age of 80 years, $4.84; in the month next following the month the Member or annuitant attains the age of 90 years, $5.92; or if an election is not made the rate will be $5.96 in the month next following the Maturity Date when the Member or annuitant attains age 100. Section 8. Withdrawal of Funds Subject to the terms of this certificate, on or before maturity, the Member may withdraw all or part of the value of the Member s account by giving notice to the Issuer and may elect: i) to purchase any form of annuity that the Issuer is offering at that time commencing no later than the Maturity Date; or ii) to receive payment in cash. The value of the Member s account will be reduced by the amount of any withdrawals. All such elections will be completed in accordance with the Administrative Rules and the Investment Rules. Notwithstanding the above provisions, the Plan Sponsor may impose restrictions on withdrawals and/or transfers to which the Member will be subject during the duration of the Member s eligibility under the Plan. Section 9. Termination of Plan or Membership If the Group Non-registered Policy is terminated or if the Member ceases to be eligible to participate under the Group Non-registered Policy, no further Contributions may be made under this certificate. When the Issuer receives notice that such an event has occurred, the Plan Sponsor will cease to be the Member s agent and the Issuer may, without accepting any obligation or responsibility to do so, withdraw the value of the Member s account. The Issuer may exercise this right at any time. The Member will be given 60 days from the date the Issuer receives notice of the occurrence of the event to provide the Issuer with withdrawal instructions. If the Member does not provide such instructions within the 60 day period, the Member will be deemed to have instructed the Issuer to transfer the value of the Member s account to another non-registered savings plan as the Issuer deems appropriate, and hereby appoints the Issuer to be the Member s agent for this and any related purpose and the Issuer hereby accepts such appointment. In the alternative, if another non-registered savings plan is deemed to not be appropriate, the Issuer will pay the proceeds to the Member in cash. Section 10. Limitation of Liability The provision of a life annuity, or another form of annuity settlement option, or a withdrawal of the value of the Member s account, will constitute a full and final settlement of the rights of the Member or beneficiary, as applicable, with respect to the Plan, as against the Plan Sponsor, any subsidiary or affiliated companies participating in the Plan, any agents of the Plan Sponsor, the Issuer and any agents of the Issuer. Section 11. Legal Actions Every action or proceeding against an insurer for the recovery of insurance money payable under the contract is absolutely barred unless commenced within the time set out in the Insurance Act (for actions or proceedings governed by the laws of Alberta and British Columbia), The Insurance Act (for actions or proceedings governed by the laws of Manitoba), the Limitations Act, 2002 (for actions or proceedings governed by the laws of Ontario), or other applicable legislation. For those actions or proceedings governed by the laws of Quebec, the prescriptive period is set out in the Quebec Civil Code. Section 12. Death of the Member The Member may designate a person to receive all amounts payable to a beneficiary under this certificate. The Member may change or revoke a revocable beneficiary designation as permitted by law. If the Member or annuitant dies before the value of the Member s account has been applied to provide an annuity or has been withdrawn or transferred, the Issuer will pay that value to the beneficiary in one sum in accordance with the Issuer s then current practices. The beneficiary designated by the Member under this certificate will also serve as the beneficiary designation under any alternate non-registered savings plan issued to the Member by the Issuer to replace this certificate upon the termination of the Group Non-registered Policy or the Member s eligibility to participate under the Group Non-registered Policy, until and unless the Member changes or revokes such beneficiary appointment. Section 13. Taxes All fees and charges payable to the Issuer are net of any applicable taxes and any such taxes will be payable or recoverable in the same manner as the fees and charges to which they relate. Section 14. General Provisions Any notice to the Issuer must be in writing or such other form as may be agreed upon between the Issuer and the Plan Sponsor. Such notice will be effective when received at the Head Office of the Issuer. Any notice to the Plan Members will be in writing and will be effective on the date it is received. The Issuer may amend the terms and conditions of the certificate issued to Members upon 60 days notice to the Plan Sponsor, unless otherwise specified. Continuation in the Plan after the effective date of such amendment will constitute acceptance of such amended terms. If the Issuer agrees to amend or waive any provision of this certificate the amendment or waiver is effective only if it is in writing and signed on behalf of the Issuer by an authorized officer of the Issuer. A Member or claimant may request copies of documents to which the individual is entitled to receive under the Applicable Legislation. All payments to or by the Issuer will be in legal Canadian currency. The ultimate responsibility for administering the Plan in accordance with the Plan s terms lies with the Plan Sponsor. The Plan is subject to the Applicable Legislation. To the extent of any inconsistency between the Plan and the Applicable Legislation, the Applicable Legislation will override the terms of the Plan. Paul A. Mahon President and Chief Executive Officer Stefan Kristjanson President and Chief Operating Officer, Canada 25 Page 2 of 2

26

27 Schedule of fees Group savings plans Registered retirement savings plan (RRSP) Tax-free savings account (TFSA) Non-registered savings plan (NRSP) Group retirement income plans Registered retirement income fund (RRIF) Life income fund (LIF) Locked-in retirement income fund (LRIF) Restricted life income fund (RLIF) Prescribed registered retirement income fund (PRRIF) NextStep Schedule of fees There are certain administrative costs for your plan(s), as set out in this Schedule of fees, effective Oct. 5, Additional charges may be incurred where permitted by law, or otherwise disclosed to you. Your member certificate(s)/declarations of Trust govern your rights and responsibilities under the plan(s). Please contact Access Line at if you have any questions. The NextStep plans are sponsored by The Great-West Life Assurance Company (Great-West Life) and issued by London Life Insurance Company (London Life), a subsidiary of Great-West Life, with the exception of the trusteed group retirement savings plan and the trusteed group retirement income plans. These plans invest in group annuity contracts issued by Great-West Life, London Life and The Canada Life Assurance Company (Canada Life). Investors Group Trust Co. Ltd. is the trustee for the trusteed group retirement savings plan and the trusteed group retirement income plans and London Life is the agent for the trustee. The issuer/trustee is referenced in this document as us, we and our. Other defined terms in this Schedule of fees have the meaning given to them in your certificate(s) and/or Declarations of Trust. 27

28 Interest rates (IR) Guaranteed investments will earn interest in accordance with the applicable investment rules. Interest rates are determined daily. Investments in guaranteed investments (excluding daily interest accounts) will be credited with interest at a rate equal to our standard rate, plus an enhancement. Fee for investment management Investment management fees (IMFs) are paid to investment managers for their professional services, including daily fund management. IMFs may include a fee to us, if applicable, for the cost of administering and servicing your plan. IMFs are based on the asset value of each fund and are paid directly from the fund daily; IMFs don t include applicable taxes, which are also charged. Fund operating expenses (FOEs) are also charged directly to the fund to cover costs and expenses such as audit and custodial fees, fund transaction costs, taxes paid by the fund, bank fees, fund valuation and reporting. FOEs may be associated with third-party investment manager underlying funds and/or our segregated funds. These fees are charged as they occur and don t include applicable taxes, which are also charged. The total amount is calculated and reported to you at the end of each year. The amount we report will usually be the previous year-end charges, calculated as a percentage of the fund. The investment management fee and expense (IMFE) is the IMF plus FOE, excluding applicable taxes. Information about these fees can be found on Withdrawals Withdrawals fees are subject to the terms of the plan(s) and apply to each calendar year. For RRSP and NRSP, the fees are based on your total NextStep balance as shown in the chart below. A withdrawal fee may be deducted from your withdrawal, depending on your NextStep balance and number of withdrawals you make from each plan type. NextStep balance Less than $250,000 More than $250,000 Withdrawal fees for each plan type One free withdrawal, $50 each additional withdrawal Four free withdrawals, $50 each additional withdrawal For TFSA, the first withdrawal is free. Each additional withdrawal is subject to a $25 fee that s deducted from your withdrawal, regardless of your NextStep balance. In the event of a full withdrawal from a retirement income plan, and the funds are transferred to another financial institution, a $75 fee will apply for each plan type transferred. Unscheduled, lump-sum withdrawals from retirement income plans An unscheduled withdrawal is a withdrawal that s not on one of your regularly scheduled payment dates. A fee of $25 will be deducted from the withdrawal. Increasing the amount of your scheduled payments is not considered an unscheduled withdrawal. 28

29 Locating a missing person Where a benefit becomes payable under the terms of the plan(s) and a missing person needs to be located, there will be a fee deducted from the value of the member s account(s) associated with the missing person, in accordance with our administrative procedures. Guaranteed investment withdrawal values If you retire or die, have scheduled payments during retirement, or choose to make a withdrawal at the end of the interest guarantee period, your guaranteed investment account value will be calculated at book value. However, if a withdrawal or unscheduled payment is made before the end of the interest guarantee period, or maturity date, the value received will be calculated by comparing the book value to the market value of the guaranteed investment. You will receive the lesser of the two. For transfers between investment options and retirement income plans, your guaranteed investment account value will be calculated at market value. Book value If a withdrawal or scheduled payment is made before the end of the interest guarantee period, or in other words, before its maturity date, the value received will be calculated by applying the guaranteed interest rate to the initial investment from the time the investment was made until the date of the withdrawal. For example, if a contribution of $1,000 was made to a one year guaranteed investment, the book value after six months would be $1,000 plus six months worth of its guaranteed interest. Market value If a withdrawal or unscheduled payment is made before the end of the interest guarantee period, or in other words, before its maturity date, the value received will be based on two calculations. First, we will determine the amount the guaranteed investment would have been worth if held to the original maturity date. That amount will then be discounted from the maturity date to the date of withdrawal using the then current interest rate for the same guaranteed term at the time of the withdrawal. The amount received could be higher or lower than the book value, and depends on whether the interest rates at the time of withdrawal are higher or lower than the interest rate at the time of your original investment. Frequent trading Frequent trading is an investment strategy that s detrimental to other members invested in the same variable investment options. In order to deter this activity, frequent trading is monitored. If it s determined that excessive trading is occurring, a frequent trading fee may be charged (currently up to two per cent of the amount exchanged) or a transfer may not be allowed. Important notes The fees listed in this schedule are subject to change. IMFs are shown exclusive of applicable taxes, FOEs, and are subject to change. These fees are current as of Oct. 5, You may request an updated Schedule of fees at any time. For group savings plans, your asset balance as of June 30 of each year determines your IMF and IR level, and your withdrawal fees, for the following year. Any changes to your level are made by August 31. For group retirement income plans, your asset balance when you purchase these plan types determines your IMF and IR level, which typically doesn t change. However, if you transfer a portion of your plan to or from another financial institution or if you make a significant withdrawal, your remaining balance will be reviewed and your fee level adjusted if necessary. This Schedule of fees applies to plan numbers 36745, 38028, 62396,

30 Schedule of fees Guaranteed investment accounts 1 (GIAs) IR (less than $50,000) IR ($50,000- $100,000) IR ($100,000- $250,000) IR ($250,000- $500,000) IR ($500,000- $1,000,000) IR (more than $1,000,000) 1 year GIA Base +.15 Base +.25 Base +.40 Base +.50 Base +.50 Base year GIA Base +.15 Base +.25 Base +.40 Base +.50 Base +.50 Base year GIA Base +.15 Base +.25 Base +.40 Base +.50 Base +.50 Base year GIA Base +.15 Base +.25 Base +.40 Base +.50 Base +.50 Base year GIA Base +.15 Base +.25 Base +.40 Base +.50 Base +.50 Base +.50 Asset allocation funds Target risk funds IMF (less than $50,000) IMF ($50,000- $100,000) IMF ($100,000- $250,000) IMF ($250,000- $500,000) IMF ($500,000- $1,000,000) CI Investments Conservative Fund (CONCI) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Moderate Fund (MODCI) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Moderate Balanced Fund (MOBCI) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Balanced Fund (BALCI) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Balanced Growth Fund (BGRCI) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Advanced Fund (ADVCI) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Aggressive Fund (AGGCI) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Continuum Funds (Portfolio Solutions Group) Conservative Continuum Fund (S605) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Moderate Continuum Fund (S606) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Balanced Continuum Fund (S607) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Advanced Continuum Fund (S608) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Aggressive Continuum Fund (S609) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Portfolio Funds (Portfolio Solutions Group) Conservative Portfolio Fund (LCOPO) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Moderate Portfolio Fund (LMOPO) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Balanced Portfolio Fund (LBAPO) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Advanced Portfolio Fund (LADPO) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Aggressive Portfolio Fund (LAGPO) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Profile Funds (Portfolio Solutions Group) Conservative Profile Fund (LCOPR) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Moderate Profile Fund (LMOPR) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Balanced Profile Fund (LBAPR) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Advanced Profile Fund (LCFPR) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Aggressive Profile Fund (LAGPR) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Russell Investments Balanced Growth Fund (S321)**** 2.25% 2.15% 1.95% 1.75% 1.50% 1.30% Long-Term Growth Fund (S322)**** 2.25% 2.15% 1.95% 1.75% 1.50% 1.30% Multi-Asset Income Strategy Fund (S320)**** 2.25% 2.15% 1.95% 1.75% 1.50% 1.30% Multi-Asset Growth Strategy Fund (S328)**** 2.25% 2.15% 1.95% 1.75% 1.50% 1.30% IMF (more than $1,000,000) 1 Guaranteed investment accounts (GIAs) for the NextStep group RRSP and group retirement income plans may be issued by London Life, Great-West Life and/or Canada Life, as applicable. 2 These funds will be available mid November These funds will be available early December

31 Schedule of fees Target date funds IMF (less than $50,000) IMF ($50,000- $100,000) IMF ($100,000- $250,000) IMF ($250,000- $500,000) IMF ($500,000- $1,000,000) IMF (more than $1,000,000) Lifecycle (CI Investments) LifeCycle 2015 Portfolio Fund (CI15) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% LifeCycle 2020 Portfolio Fund (CI20) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% LifeCycle 2025 Portfolio Fund (CI25) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% LifeCycle 2030 Portfolio Fund (CI30) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% LifeCycle 2035 Portfolio Fund (CI35) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% LifeCycle 2040 Portfolio Fund (CI40) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% LifeCycle 2045 Portfolio Fund (CI45) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% LifeCycle 2050 Portfolio Fund (CI50) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% LifeCycle 2055 Portfolio Fund (CI55) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% LifeCycle Income Portfolio Fund (CIINC) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Cadence (Portfolio Solutions Group) Cadence 2010 Retirement Fund (CAD10)**** 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Cadence 2015 Retirement Fund (CAD15)**** 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Cadence 2020 Fund (CAD20) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Cadence 2025 Fund (CAD25) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Cadence 2030 Fund (CAD30) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Cadence 2035 Fund (CAD35) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Cadence 2040 Fund (CAD40) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Cadence 2045 Fund (CAD45) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Cadence 2050 Fund (CAD50) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Cadence 2055 Fund (CAD55) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Cadence 2060 Fund (CAD60) % 1.90% 1.70% 1.50% 1.25% 1.05% Cadence Retirement Fund (CADRT)**** 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Cadence Equity Fund (CADEQ) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Cadence Fixed Income Fund (CADFI) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% ClearPath (Fidelity) ClearPath 2010 Fund (CP10)**** 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% ClearPath 2015 Fund (CP15) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% ClearPath 2020 Fund (CP20) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% ClearPath 2025 Fund (CP25) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% ClearPath 2030 Fund (CP30) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% ClearPath 2035 Fund (CP35) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% ClearPath 2040 Fund (CP40) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% ClearPath 2045 Fund (CP45) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% ClearPath 2050 Fund (CP50) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% ClearPath 2055 Fund (CP55) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% ClearPath Income Fund (CPIF) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% * These funds are only available under registered plans. *** These funds are not available for tax-free savings accounts and non-registered plans. ****These funds are not available to new plan members. 31

32 Schedule of fees Target date funds IMF (less than $50,000) IMF ($50,000- $100,000) IMF ($100,000- $250,000) IMF ($250,000- $500,000) IMF ($500,000- $1,000,000) Continuum (Portfolio Solutions Group) Continuum 2010 Retirement Fund (CNT10)**** 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum 2015 Retirement Fund (CNT15)**** 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum 2020 Fund (CNT20) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum 2025 Fund (CNT25) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum 2030 Fund (CNT30) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum 2035 Fund (CNT35) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum 2040 Fund (CNT40) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum 2045 Fund (CNT45) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum 2050 Fund (CNT50) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum 2055 Fund (CNT55) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum 2060 Fund (CNT60) % 1.95% 1.75% 1.55% 1.30% 1.10% Harmonized (Portfolio Solutions Group) Harmonized Fund 2015 Retirement (H15)**** 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Fund 2020 (H20) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Fund 2025 (H25) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Fund 2030 (H30) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Fund 2035 (H35) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Fund 2040 (H40) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Fund 2045 (H45) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Fund 2050 (H50) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Fund 2055 (H55) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Fund 2060 (H60) % 1.80% 1.60% 1.40% 1.15% 0.95% LifePath (BlackRock) LifePath 2015 Retirement (BGI15)**** 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% LifePath 2020 (BGI20) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% LifePath 2025 (BGI25) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% LifePath 2030 (BGI30) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% LifePath 2035 (BGI35) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% LifePath 2040 (BGI40) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% LifePath 2045 (BGI45) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% LifePath 2050 (BGI50) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% LifePath 2055 (BGI55) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Target Retirement (Vanguard Investments) Target Retirement 2020 Fund (VAN20) 1.93% 1.83% 1.63% 1.43% 1.18% 0.98% Target Retirement 2025 Fund (VAN25) 1.93% 1.83% 1.63% 1.43% 1.18% 0.98% Target Retirement 2030 Fund (VAN30) 1.93% 1.83% 1.63% 1.43% 1.18% 0.98% Target Retirement 2035 Fund (VAN35) 1.93% 1.83% 1.63% 1.43% 1.18% 0.98% Target Retirement 2040 Fund (VAN40) 1.93% 1.83% 1.63% 1.43% 1.18% 0.98% Target Retirement 2045 Fund (VAN45) 1.93% 1.83% 1.63% 1.43% 1.18% 0.98% Target Retirement 2050 Fund (VAN50) 1.93% 1.83% 1.63% 1.43% 1.18% 0.98% Target Retirement 2055 Fund (VAN55) 1.93% 1.83% 1.63% 1.43% 1.18% 0.98% Target Retirement Income Fund (VANRT) 1.93% 1.83% 1.63% 1.43% 1.18% 0.98% IMF (more than $1,000,000) 1 Guaranteed investment accounts (GIAs) for the NextStep group RRSP and group retirement income plans may be issued by London Life, Great-West Life and/or Canada Life, as applicable. 2 These funds will be available mid November These funds will be available early December

33 Schedule of fees Risk-adjusted target date funds IMF (less than $50,000) IMF ($50,000- $100,000) IMF ($100,000- $250,000) IMF ($250,000- $500,000) IMF ($500,000- $1,000,000) Continuum (Portfolio Solutions Group) Continuum Conservative 2015 Retirement (CNY15)**** 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Conservative 2020 (CNY20) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Conservative 2025 (CNY25) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Conservative 2030 (CNY30) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Conservative 2035 (CNY35) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Conservative 2040 (CNY40) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Conservative 2045 (CNY45) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Conservative 2050 (CNY50) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Conservative 2055 (CNY55) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Conservative 2060 (CNY60) % 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Balanced - See Continuum Funds under Target date funds Continuum Aggressive 2015 Retirement (CNZ15)**** 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Aggressive 2020 (CNZ20) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Aggressive 2025 (CNZ25) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Aggressive 2030 (CNZ30) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Aggressive 2035 (CNZ35) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Aggressive 2040 (CNZ40) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Aggressive 2045 (CNZ45) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Aggressive 2050 (CNZ50) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Aggressive 2055 (CNZ55) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Continuum Aggressive 2060 (CNZ60) % 1.95% 1.75% 1.55% 1.30% 1.10% Harmonized (Portfolio Solutions Group) Harmonized Conservative 2015 Retirement (HY15)**** 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Conservative 2020 (HY20) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Conservative 2025 (HY25) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Conservative 2030 (HY30) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Conservative 2035 (HY35) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Conservative 2040 (HY40) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Conservative 2045 (HY45) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Conservative 2050 (HY50) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Conservative 2055 (HY55) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Conservative 2060 (HY60) % 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Balanced - See Harmonized Funds under Target date funds Harmonized Aggressive 2015 Retirement (HZ15)**** 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Aggressive 2020 (HZ20) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Aggressive 2025 (HZ25) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Aggressive 2030 (HZ30) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Aggressive 2035 (HZ35) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Aggressive 2040 (HZ40) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Aggressive 2045 (HZ45) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Aggressive 2050 (HZ50) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Aggressive 2055 (HZ55) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Harmonized Aggressive 2060 (HZ60) % 1.80% 1.60% 1.40% 1.15% 0.95% IMF (more than $1,000,000) * These funds are only available under registered plans. *** These funds are not available for tax-free savings accounts and non-registered plans. ****These funds are not available to new plan members. 33

34 Schedule of fees Market-based funds (Investment funds) Investment manager IMF (less than $50,000) IMF ($50,000- $100,000) IMF ($100,000- $250,000) IMF ($250,000- $500,000) IMF ($500,000- $1,000,000) AGF Growth Equity Fund (AGGE) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% American Growth Fund (LAGAG) 2.15% 2.05% 1.85% 1.65% 1.40% 1.20% Beutel Goodman Bond Fund (LBOBG) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Canadian Equity Fund (LNABG) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Pure Canadian Equity Fund (CEBG) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% American Equity Fund (S261) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Balanced Fund (LBABG) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Balanced Global Fund (BALBG) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Bissett / Templeton Fixed Income Fund (S158) Bissett 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Canadian Equity Fund (S103) Bissett 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Cdn Small Cap Equity Fund (S105) Bissett 2.50% 2.40% 2.20% 2.00% 1.75% 1.55% Balanced Fund (S104) Templeton 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% International Equity N Fund (LIETN) Templeton 2.30% 2.20% 2.00% 1.80% 1.55% 1.35% International Equity Fund (LIET)* Templeton 2.30% 2.20% 2.00% 1.80% 1.55% 1.35% BonaVista Balanced Fund (S107)**** 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Brandywine International Bond Fund (LIBP) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% CI Investments Cambridge Asset Allocation Fund (CAACI) 2.15% 2.05% 1.85% 1.65% 1.40% 1.20% Cambridge All Canadian Equity Fund (TRCE) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Canada Life Investments International Bond Fund (S036) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Global Equity Fund (GLEQC) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Far East Fund (LSGAG) 2.15% 2.05% 1.85% 1.65% 1.40% 1.20% Far East Equity Fund (S038)**** 2.15% 2.05% 1.85% 1.65% 1.40% 1.20% Connor, Clark & Lunn Bond Fund (CCLB) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Equity Fund (PCE) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Balanced Fund (PCB) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% International Equity Fund (CCLI) 2.25% 2.15% 1.95% 1.75% 1.50% 1.30% Dynamic Canadian Growth Fund (DYCG) 2.35% 2.25% 2.05% 1.85% 1.60% 1.40% Partners Fund (DYPF) 2.35% 2.25% 2.05% 1.85% 1.60% 1.40% IMF (more than $1,000,000) 1 Guaranteed investment accounts (GIAs) for the NextStep group RRSP and group retirement income plans may be issued by London Life, Great-West Life and/or Canada Life, as applicable. 2 These funds will be available mid November These funds will be available early December

35 Schedule of fees Investment manager IMF (less than $50,000) IMF ($50,000- $100,000) IMF ($100,000- $250,000) IMF ($250,000- $500,000) IMF ($500,000- $1,000,000) Fidelity True North Fund (S176) 2.35% 2.25% 2.05% 1.85% 1.60% 1.40% Global Fund (S184) 2.40% 2.30% 2.10% 1.90% 1.65% 1.45% Canadian Bond Trust (CBTF) 1.80% 1.70% 1.50% 1.30% 1.05% 0.85% Canadian Money Market Fund (MMF) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Canadian Systematic Equity Trust (CSEF) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Canadian Core Equity Trust (CCEF) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Canadian Balanced Fund (CBALF) 2.25% 2.15% 1.95% 1.75% 1.50% 1.30% Canadian Disciplined Equity Fund (CDEF) 2.30% 2.20% 2.00% 1.80% 1.55% 1.35% Canadian Growth Company Fund (CGCF) 2.30% 2.20% 2.00% 1.80% 1.55% 1.35% U.S. Large Cap Core Trust (USLC)*** 2.30% 2.20% 2.00% 1.80% 1.55% 1.35% Select International Equity Trust (SIEF) 2.30% 2.20% 2.00% 1.80% 1.55% 1.35% Growth America Fund (GRAF) 2.40% 2.30% 2.10% 1.90% 1.65% 1.45% American Disciplined Equity Fund (AMDEF) 2.40% 2.30% 2.10% 1.90% 1.65% 1.45% Canadian Asset Allocation Fund (S191) 2.35% 2.25% 2.05% 1.85% 1.60% 1.40% Fiera Capital Fixed Income Fund (S228) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Bond Fund (SICB) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Canadian Equity Fund (S123) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Equity Fund (PSE) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Global Equity Fund (GEFC) 2.15% 2.05% 1.85% 1.65% 1.40% 1.20% Balanced Fund (S124)**** 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Balanced Core Fund (PSB) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Foyston, Gordon & Payne Canadian Value Fund (CVDY) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% GWL Investment Management Canadian Equity Index Fund (LEIG) 1.55% 1.45% 1.25% 1.05% 0.80% 0.60% Canadian Equity Fund (LCEG) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Canadian Dividend Fund (LDVDL)**** 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Canadian Resources Fund (LCRAG) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Mid Cap Canada Fund (LMCCG) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Dividend Fund (LDVDG) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Balanced Index Fund (LBIG) 1.60% 1.50% 1.30% 1.10% 0.85% 0.65% Balanced Growth Fund (LBGRL) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% SRI Balanced Fund (SRBAL) 1.75% 1.65% 1.45% 1.25% 1.00% 0.80% Equity/Bond Fund (LEBG) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% U.S. Equity Fund (LUSEG) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% U.S. Mid Cap Equity Fund (USGSL)**** 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% U.S. Dividend Fund (USDVG) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Diversified Fund (LDG) 1.80% 1.70% 1.50% 1.30% 1.05% 0.85% Science & Technology Fund (LLSTG) 1.80% 1.70% 1.50% 1.30% 1.05% 0.85% SRI Canadian Equity Fund (LLEG) 1.80% 1.70% 1.50% 1.30% 1.05% 0.85% U.S. Mid Cap Fund (LLMCG) 1.80% 1.70% 1.50% 1.30% 1.05% 0.85% U.S. Index Registered Fund (USIXG)*** 1.55% 1.45% 1.25% 1.05% 0.80% 0.60% GWL Realty Advisors Real Estate Fund (LREG) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Greystone Fixed Income Fund (S209) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Canadian Equity Fund (S203) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Balanced Fund (S208) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% IMF (more than $1,000,000) * These funds are only available under registered plans. *** These funds are not available for tax-free savings accounts and non-registered plans. ****These funds are not available to new plan members. 35

36 Schedule of fees Investment manager IMF (less than $50,000) IMF ($50,000- $100,000) IMF ($100,000- $250,000) IMF ($250,000- $500,000) IMF ($500,000- $1,000,000) Invesco / Trimark Canadian Bond Fund (S337) Trimark 2.20% 2.10% 1.90% 1.70% 1.45% 1.25% Canadian Growth Fund (S289) Invesco 2.20% 2.10% 1.90% 1.70% 1.45% 1.25% Balanced Fund (S288) Invesco 2.20% 2.10% 1.90% 1.70% 1.45% 1.25% Income Growth Fund (TRIG) Trimark 2.20% 2.10% 1.90% 1.70% 1.45% 1.25% U.S. Companies Fund (S329) Trimark 2.20% 2.10% 1.90% 1.70% 1.45% 1.25% Global Equity Fund (TRGE) Trimark 2.20% 2.10% 1.90% 1.70% 1.45% 1.25% Irish Life Investment Managers Global Low Volatility Fund (LCOMK) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% JP Morgan International Equity Fund (LLINE) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% International Opportunity Fund (LIOP) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Jarislowsky Fraser Bond Fund (BJF) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Canadian Equity Fund (CEJF) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Balanced Fund (BALJF)*** 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% U.S. Equity Fund (USEJF)*** 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Global Balanced Fund (S311) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% International Equity Fund (IEJF) 2.25% 2.15% 1.95% 1.75% 1.50% 1.30% Laketon Canadian Dividend Fund (S039) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Canadian Equity Fund (S002) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Growth Equity Fund (LGREL) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Balanced Fund (S014) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Leith Wheeler Canadian Equity Fund (S195) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Balanced Fund (S196) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% London Capital Canadian Low Volatility Fund (LLCMK) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Canadian Equity Fund (LLCNE) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% U.S. Equity Fund (LLUSE) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% U.S. Value Equity Fund (S178) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% North American Balanced Fund (PBA) 1.80% 1.70% 1.50% 1.30% 1.05% 0.85% Diversified Fund (LLDIV) 1.80% 1.70% 1.50% 1.30% 1.05% 0.85% Global Infrastructure Equity Fund (GINFL) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Global Monthly Income Fund (LBMK) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% MFS Money Market Fund (S143)**** 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Fixed Income Fund (FIMB) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% American Equity Fund (AEMB) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% International Equity Fund (IEMB) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Global Equity Fund (GEMB) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% IMF (more than $1,000,000) 1 Guaranteed investment accounts (GIAs) for the NextStep group RRSP and group retirement income plans may be issued by London Life, Great-West Life and/or Canada Life, as applicable. 2 These funds will be available mid November These funds will be available early December

37 Schedule of fees Investment manager IMF (less than $50,000) IMF ($50,000- $100,000) IMF ($100,000- $250,000) IMF ($250,000- $500,000) IMF ($500,000- $1,000,000) Mackenzie Unconstrained Fixed Income Fund (UFIMK) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Equity Fund (LEMK) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Canadian Equity Growth Fund (LCEGM) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Smaller Company Fund (LSCMK) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Canadian Resource Fund (LNRM) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Canadian Large Cap Dividend Fund (LDVDM) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Canadian Large Cap Balanced Fund (LCBM) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Income Fund (LINMK) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Floating Rate Income Fund (FRIMK) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Canadian Balanced Fund (LGIMK) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Precious Metals Fund (LPMM) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Foreign Equity Fund (FEMK) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% International Equity Fund (ISMK) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Global Growth Fund (LGEM) 2.25% 2.15% 1.95% 1.75% 1.50% 1.30% Global Small Cap Fund (GSCMK) 2.25% 2.15% 1.95% 1.75% 1.50% 1.30% Emerging Markets Fund (LLEMS) 2.25% 2.15% 1.95% 1.75% 1.50% 1.30% Meritas Socially Responsible Bond Fund (CBMER) 1.75% 1.65% 1.45% 1.25% 1.00% 0.80% Socially Responsible Cdn Equity Fund (JSMER) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Socially Responsible U.S. Equity Fund (USMER) 2.25% 2.15% 1.95% 1.75% 1.50% 1.30% Socially Responsible Int'l Equity Fund (IEMER) 2.25% 2.15% 1.95% 1.75% 1.50% 1.30% Montrusco Bolton Canadian Equity Fund (LCEMO)**** 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Growth Equity Fund (MTGE) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Total Return Fund (MTTR)**** 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% Phillips, Hager & North Balanced Pension Trust (S147) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Bond Fund (S149) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Canadian Equity Fund (S269) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Portfolio Solutions Group Harmonized Fixed Income Fund (HFIPS) 1.80% 1.70% 1.50% 1.30% 1.05% 0.85% Harmonized Canadian Equity Fund (HCEPS) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Harmonized Foreign Equity Fund (HFEPS) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Harmonized Special Equity Fund (HSEPS) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% IMF (more than $1,000,000) * These funds are only available under registered plans. *** These funds are not available for tax-free savings accounts and non-registered plans. ****These funds are not available to new plan members. 37

38 Schedule of fees Investment manager IMF (less than $50,000) IMF ($50,000- $100,000) IMF ($100,000- $250,000) IMF ($250,000- $500,000) IMF ($500,000- $1,000,000) Portico Investment Management Core Bond Fund (LLBON) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Canadian Bond Fund (LCBG) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Canadian Short Term Bond Fund (STBP) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Canadian Bond Universe Index Fund (LCBIL) 1.55% 1.45% 1.25% 1.05% 0.80% 0.60% Canadian Income Fund (LINCL)**** 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Corporate Bond Fund (CORBP) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Income Fund (LIG) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Long-Term Bond Fund (LTBL) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Government Bond Fund (LGBG) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Core Plus Bond Fund (S019) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% SRI Bond Fund (SRBP) 1.75% 1.65% 1.45% 1.25% 1.00% 0.80% Money Market Fund (LLMON) 1.45% 1.35% 1.15% 0.95% 0.70% 0.50% Money Market (LK) Fund (S029) 1.45% 1.35% 1.15% 0.95% 0.70% 0.50% Mortgage Fund (LLMRT) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Commercial Mortgage Fund (LMG) 1.90% 1.80% 1.60% 1.40% 1.15% 0.95% Real Return Bond Fund (RRBP) 1.70% 1.60% 1.40% 1.20% 0.95% 0.75% Putnam Investments U.S. Low Volatility Fund (USLVP) 1.95% 1.85% 1.65% 1.45% 1.20% 1.00% U.S. Growth Fund (LAEM) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% U.S. Value Fund (USVEP) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% North American High Yield Bond Fund (NABMK) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Global Equity Fund (LGEL) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% International Equity Fund (LIEP) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% Renaissance Canadian Bond Fund (CBR) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Canadian Core Value Fund (CCVR)**** 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Canadian Small Cap Fund (CSCR) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% Canadian Balanced Value Fund (CBVR) 2.10% 2.00% 1.80% 1.60% 1.35% 1.15% U.S. Basic Value Fund (USBVR)**** 2.15% 2.05% 1.85% 1.65% 1.40% 1.20% Global Growth Fund (GGR) 2.20% 2.10% 1.90% 1.70% 1.45% 1.25% Global Sectors Fund (GSRR) 2.20% 2.10% 1.90% 1.70% 1.45% 1.25% Scheer, Rowlett & Associates Money Market Fund (S201)**** 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Bond Fund (BSR) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Short Term Bond Fund (STBSR)**** 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Canadian Equity Fund (CESR) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% Balanced Fund (BALSR) 1.85% 1.75% 1.55% 1.35% 1.10% 0.90% U.S. Equity Fund (USESR)**** 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% International Equity Fund (IESR) 2.15% 2.05% 1.85% 1.65% 1.40% 1.20% Sentry Investments Global Income Fund (AGGI) 2.05% 1.95% 1.75% 1.55% 1.30% 1.10% IMF (more than $1,000,000) 1 Guaranteed investment accounts (GIAs) for the NextStep group RRSP and group retirement income plans may be issued by London Life, Great-West Life and/or Canada Life, as applicable. 2 These funds will be available mid November These funds will be available early December

39 Schedule of fees Investment manager IMF (less than $50,000) IMF ($50,000- $100,000) IMF ($100,000- $250,000) IMF ($250,000- $500,000) IMF ($500,000- $1,000,000) Setanta SRI Global Equity Fund (SRGES) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% European Equity Fund (LEES) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Global Equity Fund (S034) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Global Dividend Fund (GDIVS) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% International Equity Fund (IES) 2.00% 1.90% 1.70% 1.50% 1.25% 1.05% Sprucegrove International Equity Fund (SPIE) 2.15% 2.05% 1.85% 1.65% 1.40% 1.20% Global Equity Fund (GES) 2.15% 2.05% 1.85% 1.65% 1.40% 1.20% TD Asset Management Canadian Bond Index Fund (S079) 1.60% 1.50% 1.30% 1.10% 0.85% 0.65% Canadian Equity Index Fund (S120) 1.60% 1.50% 1.30% 1.10% 0.85% 0.65% Balanced Index Fund (S080) 1.60% 1.50% 1.30% 1.10% 0.85% 0.65% U.S. Equity Index Fund (LUSET) 1.60% 1.50% 1.30% 1.10% 0.85% 0.65% International Equity Index Fund (LIEIT) 1.60% 1.50% 1.30% 1.10% 0.85% 0.65% Global Equity Index Fund (S244) 1.65% 1.55% 1.35% 1.15% 0.90% 0.70% IMF (more than $1,000,000) * These funds are only available under registered plans. *** These funds are not available for tax-free savings accounts and non-registered plans. ****These funds are not available to new plan members.

40 Notes :

41

42 Notes :

43