|Cohort/Class Type||Date of Birth Ranges||Class||Fund Codes||Initial Lifetime Income Target||Mgmt. Fee|
|Decumulation cohort 4||January 1, 1954, to December 31, 1956||Class F4||PFC9401||6.15%||0.60%|
|Decumulation cohort 3||January 1, 1951, to December 31, 1953||Class F3||PFC9301||6.50%||0.60%|
|Decumulation cohort 2||January 1, 1948, to December 31, 1950||Class F2||PFC9201||6.90%||0.60%|
|Decumulation cohort 1||January 1, 1945, to December 31, 1947||Class F1||PFC9101||7.40%||0.60%|
|Accumulation||Eligible for individual investors of any age below the date of birth ranges listed above.||Class Accumulator FClass Accumulator FT5||PFC9001PFC9006||N/AN/A||0.60%0.60%|
In order to appropriately pool the longevity risk, the Longevity Pension Fund groups investors into cohorts of people with three-year age brackets—for example, people born from 1954-1956. While the Fund’s assets are managed as a single portfolio, distribution rates are determined for each cohort independently. Investors who invest in the Fund before they turn 65 are eligible for the Accumulation class and will switch to join a Decumulation class and respective cohort when they turn 65.
|Decumulation Class||Accumulation Class|
|Order Cut-Off Time||12:00 PM EST for Redemptions, 2:00 PM EST for Purchases||12:00 PM EST for Redemptions, 2:00 PM EST for Purchases|
|Distribution Frequency||Monthly||Annual, if any Monthly for the T5 series|
|Additional Eligibility||DRIP PACC Registered Accounts Eligible||PACC SWP Registered Accounts Eligible|
|Switch to Decumulation||Investors within the Accumulation Class will automatically switch into a decumulation series on a tax-free basis in the following month after turning 65 years old.|
How to buy?
The Longevity Pension Fund can be bought through most financial advisors and wealth management firms and dealers. Talk to your advisor or contact us with any questions.