Put money in my plan

1. Sign in.
2. Click the View/Change My Payroll Deduction link on the homepage or go to My account > Contributions > Payroll deductions.
3. Select a plan and follow the steps to change your contributions.

Set up automatic contributions to help build your savings
Making automatic contributions directly from your paycheque lets you save consistently with minimal effort. It helps build both your savings habit and your savings.

Review and adjust periodically
Regularly review your contribution amount and adjust it as your financial situation changes, such as after a raise or a change in expenses, to keep your savings goals on track.

What percentage of my paycheque should I contribute?
A common recommendation is to aim for 10% to 15% of your gross income, but the amount you contribute depends on many factors, such as your financial goals, your plan rules, RRSP contribution room, and your financial situation. A financial advisor can offer personalized guidance.

Can I change my contribution amount later?
Yes, typically you can adjust your contribution amount at any time.

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To move money directly from one plan to another, the plan you’re moving money into must be part of your Manulife program. The plan you’re moving money out of can be another plan you own, either at Manulife or another financial institution.

1. Sign in and go to More account options > My Profile > View My Plan Material to find out whether you can move money into a specific plan.
2. Fill out a form for the plan you want to put money in.
   • Request to transfer money to Manulife— RRSP, TFSA, LIRA, LRSP, RPP
   • Request to transfer money to Manulife—RRIF, LIF, LRIF, PRIF, RLIF
3. Send the form to the company that manages the plan you’re moving money out of. If that’s us, sign in and go to Tools and resources > Send documents, or use the mailing instructions on the form.

Check for transfer fees and penalties
Check if there are any fees or penalties associated with transferring funds from your current plan. Knowing these costs upfront can help you make an informed decision.

Get advice
Before initiating a transfer, consult with a financial advisor to be sure that the transfer aligns with your financial strategy and to understand any potential tax implications.

What are the tax implications of transferring funds between plans?
Depending on the types of plans involved and the transfer specifics, there may be tax implications. Consult with a financial advisor to understand how the transfer might affect your tax situation.

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If your plan lets you contribute online, you can make a lump-sum contribution of between $100 and $25,000 through your Manulife account (best choice for all plans):

1. Sign in.
2. Go to Profile > Banking information to make sure your banking information is up to date.
3. Go to My account > Contributions > Lump-sum contribution.
4. If you added or changed banking information in Step 2:
   • Fill out a payer authorization for pre-authorized debit plan form.
   • Send us the form by going to Tools and resources > Send documents or use the mailing instructions on the form.
   • Don’t forget to provide your banking information, using either a scanned image of a void cheque or your banking information on bank letterhead.

Generally, if we get everything we need by 4:00 p.m., Eastern time, on a business day, we put your money in your plan that same day; otherwise, we put it in on the next business day. For stock plans, we should get everything before noon on a business day for a same-day transaction.

1. Sign in to the Manulife Mobile app on your phone or tablet.
2. Tap Transaction at the bottom of the screen and select Lump-sum contribution.

Generally, if we get everything we need by 4:00 p.m., Eastern time, on a business day, we put your money in your plan that same day; otherwise, we put it in on the next business day. For stock plans, we should get everything before noon on a business day for a same-day transaction.

1. Sign in to your online bank account.
2. Go to the feature for paying your bills (it might be called Pay a bill or something similar).
3. Add Manulife as a payee to put your plan on your list. Look for Manulife - Group RRSP Member or Manulife - Group TFSA Member.
4. When asked for your Manulife account number, enter your customer number. It’s on the second page of your statement in the top left corner.
5. To submit your contribution, follow the steps to pay a bill.

There will be a delay between the date you submit your contribution and the date we put it in your plan.

1. Fill out a form for the plan you want to put money in:
   • Contribution request—RRSP
   • Contribution request—TFSA
   • Contribution request—NRSP
2. Send us the form you filled out. Sign in and go to Tools and resources > Send documents or use the mailing instructions on the form if you’re including a cheque.
3. If you send us a cheque:
   • Make it payable to Manulife
   • Write your policy number on it
   • Make sure to mail it with the form

Check contribution limits
Before making a one-time contribution to your RRSP or TFSA, make sure you have the contribution room for your account type to avoid going over the allowable amount. You can check your RRSP and TFSA contribution room on your Canada Revenue Agency online account.

Consider timing for tax benefits
The timing of your contribution can affect your tax benefits. For example, contributing to an RRSP before the annual deadline can reduce your taxable income for that taxation year.

Review your financial goals
Make sure your one-time contribution aligns with your financial goals and strategy. Consider asking your financial advisor if this move supports your long-term objectives.

Are there any fees associated with making a one-time contribution?
No, Manulife doesn’t charge fees to make a one-time contribution.

What documentation do I need to keep after making a one-time contribution?
Keep records such as confirmation receipts, contribution statements, and any related tax documents. These will be useful for tax reporting and future reference.

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If your plan lets you contribute online, you can set up ongoing contributions of at least $25 on a regular schedule (weekly, monthly, etc.)

To use your Manulife online account (best choice for all plans):

1. Sign in.
2. Go to Profile > Banking Information to make sure your banking information is up to date.
3. Go to My account > Contributions > Start ongoing contributions.
4. If you added or changed banking information in Step 2:
   • Fill out a payer authorization for pre-authorized debit plan form.
   • Send us the form by going to Tools and resources > Send documents or use the mailing instructions on the form.
   • Don’t forget to provide your banking information, using either a scanned image of a void cheque or your banking information on bank letterhead.

If we get everything we need by 4:00 p.m., Eastern time, on a business day, we set up your ongoing contributions that same day; otherwise, we set them up on the next business day.

1. Sign in to your online bank account.
2. Go to the feature for paying your bills (it might be called Pay a bill or something similar).
3. Add Manulife as a payee to put your plan on your list. Look for Manulife - Group RRSP Member or Manulife - Group TFSA Member.
4. When asked for your Manulife account number, enter your customer number. It’s on the second page of your statement, in the top left corner.
5. Follow the steps for paying a bill to submit your contribution. Choose the date of your first payment and how often you want to make payments after that.

There will be a delay between the date you submit your contribution and the date we put it in your plan.

Automate your contributions to help build your savings
Set up automatic transfers from your bank account to your plan to save consistently and with minimal effort.

Start with a manageable amount
Begin with an amount that fits comfortably within your budget. You can always increase it as your financial situation changes, such as after a raise or reduced expenses.

Monitor and adjust regularly
Regularly review your contributions to ensure they align with your financial goals and budget. Adjust as needed to stay on track with your objectives.

What frequency should I choose for ongoing contributions?
Common options are weekly, biweekly, or monthly. Choose a frequency that matches your income schedule and makes it easier to manage your budget.

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If you have retirement savings with different financial institutions and want to consolidate them to simplify your retirement planning, you can easily move them into your Manulife group plans:

1. Learn more about the benefits of consolidating your savings
2. Fill out the consolidation form
3. We’ll contact you and help you through the process

Evaluate the benefits of consolidation
Consolidating your savings can simplify your account management, estate planning, and give you a clearer view of your financial picture. Sometimes, there may be fees and other costs associated with closing an account or transferring assets. Assess whether the benefits outweigh any potential drawbacks.

Maintain a diversified portfolio
While consolidating accounts can be convenient, make sure your investments are diversified across different asset classes and investment types.

Get advice
Before consolidating your savings, consult with a financial advisor to understand the potential tax implications, fees, and how it fits into your overall financial plan.

What are the advantages of consolidating my savings?
Consolidation can simplify account management, reduce paperwork, potentially lower fees, simplify estate planning, and give you a clearer picture of your overall financial health.

Are there any risks associated with putting all my savings in one place
There could be potential risk in relying on a single institution’s policies and performance. You can mitigate that risk by diversifying your investments across different asset classes when you move your money.

How do I consolidate my accounts?
If you’re looking to consolidate your assets with Manulife, we can help you through the process. Fill out the consolidation form and we’ll contact you.

• Consolidate my assets
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