Solidarity Fund QFL - REDEMPTION CONDITIONS

REDEMPTION CONDITIONS

Redemption
of Pension Credits
for years of past service or pension benefit improvement

In order for the Fund to redeem your shares under the "Redemption of pension credits" criterion, you must fulfill the following requirements and provide the required proof.

Requirements

You must:

have received a offer to improve the benefits of a supplemental pension plan if this offer was not already mentioned in the plan and is offered for a limited time;

have received a offer because your employer enrolled in a new plan or you changed jobs or employee status from in order to improve the benefits of a supplemental pension plan (this offer must be time-limited);

AND

show that the redemption will be used to acquire pension credits for years of past service or to improve the benefits payable by a pension plan;

AND

have liquidated or used all your investments (including RRSPs and LIRAs), share redemption being the last resort.

Proof required

The Fund’s "Request for Pension Credit Redemption" form duly completed and signed, including acceptance by the plan administrator;

AND

a copy of the proposal to improve pension plan benefits;

AND

proof that all your redeemable investments have been liquidated or that they are neither redeemable nor transferable.

Eligible shares

All shares held for at least two years and that will be used exclusively to redeem pension credits.

Payment terms and conditions

Eligible shares will be redeemed in a one lump-sum payment. For shares not registered in the RRSP, the cheque will be issued directly to the pension plan. For those shares held in the RRSP, a transfer to the pension plan will be made using Canada Customs and Revenue Agency form T2033.

Total authorizations under this criterion cannot exceed 10% of the annual limit set for the Fund by the Qu�bec Taxation Act.¹

If less than 20 shares remain in your account, they will be automatically redeemed.

This criterion can be invoked only once.

Subsequent acquisition of shares

You may continue to purchase Fund shares any time after the redemption.

¹ Under the Qu�bec Taxation Act, the Fund must pay a penalty to the Qu�bec government when the total purchase-by-agreement disbursements for the year, excluding those made under the Lifelong Learning Plan and the Home Buyers’ Plan, exceed 2% of its paid-up capital.

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