Change of Flexible Options - RetireSavvy

Apply to effect changes to your RetireSavvy plan – Defer Retirement Age, Change Income Payout Period, Change Retirement Income Rate or Premium Top Up.

DOWNLOAD CHANGE OF FLEXIBLE OPTIONS

Instructions

If you own the RetireSavvy plan (distributed by DBS), you have the flexibility to

1. Defer Retirement Age
2. Change Income Payout Period
3. Change Retirement Income Rate
4. Premium Top Up

What you need to provide

For Defer Retirement Age, Change Income Payout Period, Change Retirement Income Rate

Completed Change of Flexible Options - RetireSavvy Form

Note: This must be made at least 2 years before reaching your selected retirement age.

For Premium Top Up

1. Completed Change of Flexible Options - RetireSavvy Form*

*Upon processing of form, we will email you the Policy Illustration (PI), together with payment instructions

2. Signed PI

3. Payment for Top Up

Note: This can be performed any time 1 year after policy inception and up to 5 years before reaching your selected retirement age.

FAQ

What are the eligibility criteria for effecting the transactions?

Premium Top Up

1. Premium top-up can be performed any time 1 year after policy inception and up to 5 years before reaching your selected retirement age per stated in your policy.
2. Minimum: each premium top-up amount must be at least $3,000.00
3. Maximum: the total premium top-up(s) amount (in multiples of $10) in each policy year must not exceed the total annual mode basic premiums payable for the basic plan
4. If premium freeze has been applied to the policy, premium top-up is not allowed thereafter.

Defer Retirement Age, Change Income Payout Period, Change Retirement Income Rate

The request must be made at least 2 years before reaching your selected retirement age.

For Defer Retirement Age, it can only be changed to a “later” (deferred) retirement age but not to an earlier retirement age.

When will my request take effect?

There is a two-step process to effect Premium Top Up.

1. Upon receipt of your completed form, we will take around 8 working days to generate and send you the Policy Illustration (PI) for your review. Upon signing the PI, please email it to us and make payment for your top up.
2. Upon receipt of your PI and with full payment made, we will take about 6 working days to effect the top up.

For the other transactions (Defer Retirement Age, Change Income Payout Period, Change Retirement Income Rate), we will take about 3 working days to effect upon receipt of the completed form.

How do I submit the completed form?

You may submit to us through any of the following modes:

• Email to forms@manulife.com using the same email address as per Manulife’s records; OR
• Log in to our customer portal, MyManulife (www.mymanulife.com.sg) and My Requests to upload your completed form. You can only access this feature using your computer or laptop.

Who will need to sign the form to activate the change?

For non-trust policies, the Assignee or Policyowner must sign the form.

For a Trust policy under S49L, either of the following parties must sign the form:

• Policyowner and any one Trustee (excluding the Policyowner), or
• All Beneficiaries (each Beneficiary must be at least 18 years old)