All existing investment products that you hold will have to be brought into line with the effective annual cost (EAC) standard when a change is made to their contractual terms. The deadlines for compliance for existing products are:
• June 1, 2017 for products sold after April 1, 2010;
• June 1, 2018 for products sold after April 1, 2000 and before April 1, 2010; and
• June 1, 2019 for products sold before April 1, 2000.
Occupational retirement funds, including umbrella retirement funds, have not been included in the EAC standard, because their structures are very different from retail products.