As filed with the Securities and Exchange Commission on December 12, 1997
Registration No. 333-_______
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-6
FOR REGISTRATION UNDER THE SECURITIES ACT
OF 1933 OF SECURITIES OF UNIT INVESTMENT
TRUSTS REGISTERED ON FORM N-8B2
PIONEER INDEPENDENCE PLANS
(Exact Name of Trust)
PIONEER FUNDS DISTRIBUTOR, INC.
(Name of Depositor)
60 State Street, Boston, Massachusetts 02109-1820
(Complete Address of Depositor's Principal Executive Offices)
Robert P. Nault, Esq.
The Pioneer Group, Inc.
60 State Street
Boston, Massachusetts 02109-1820
(Name and Complete Address of Agent for Service)
Copy to:
Jeffrey S. Puretz, Esq.
Dechert Price & Rhoads
1500 K Street, N.W.
Washington, D.C. 20005
Joseph P. Barri, Esq.
Hale and Dorr LLP
60 State Street
Boston, Massachusetts 02109
Approximate date of proposed public offering: As soon as practicable after the
effective date of this registration statement.
Title of securities being registered: Pioneer Independence Plans
The registrant hereby amends this registration statement on such dates as may be
necessary to delay its effective date until the registrant shall file a further
amendment which specifically states that this registration statement shall
thereafter become effective in accordance with Section 8(a) of the Securities
Act of 1933 or until the registration statement shall become effective on such
date as the Commission, acting pursuant to Section 8(a), may determine.
PIONEER INDEPENDENCE PLANS
Reconciliation and Tie of Information in Prospectus
with Items of Form N-8B-2 pursuant to
Instruction 4 of Form S-6
ITEM
NUMBER LOCATION IN PROSPECTUS OR PROSPECTUS CAPTION(S)
I. 1-9 ORGANIZATION AND GENERAL INFORMATION
1. (a) Cover Page
1. (b) Cover Page
2. The Sponsor
3. The Custodian
4. Cover Page
5. The Sponsor; The Custodian
6. (a) Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives; Rights and
Privileges of Planholders
6. (b) The Custodian
7. Omitted pursuant to Instruction 1 of Form S-6
8. Omitted pursuant to Instruction 1 of Form S-6
9. Omitted pursuant to Instruction 3 of Form S-6
II. GENERAL DESCRIPTION OF TRUST AND SECURITIES OF THE TRUST
10. (a) Starting a Pioneer Independence Plan
10. (b) Dividends and Distributions
10. (c) Partial Withdrawal or Redemption Without Termination of the
Plan; Systematic Withdrawal Program; Cancellation and Refund
Rights; Termination of a Plan by the Planholder and
Withdrawal of Shares
10. (d) Partial Withdrawal or Redemption Without Termination of the
Plan; Replacements of Partial Withdrawals; Systematic
Withdrawal Program; Cancellation and Refund Rights;
Termination of a Plan by the Planholder and Withdrawal of
Shares; Replacement Privilege on Termination; Transfer
or Assignment of Rights in a Plan
10. (e) Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives; Termination of a Plan by the Sponsor
or Custodian; Replacements of Partial Withdrawals;
Replacement Privilege on Termination
10. (f) Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives; Voting Rights in Fund Shares
10. (g) (1) Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives; Substitution of the Underlying
Investment
10. (g) (2) Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives; Rights and Privileges of Planholders
10. (g) (3) Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives; The Custodian
10. (g) (4) Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives
10. (h) (1) Substitution of the Underlying Investment
10. (h) (2) Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives; The Custodian
ITEM
NUMBER LOCATION IN PROSPECTUS OR PROSPECTUS CAPTION(S)
10. (h) (3) Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives; The Custodian
10. (h) (4) Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives
10. (i) Planholders May Qualify for Reduced Sales Charges; Making
Investments Ahead of Schedule to Complete a Plan Early;
Changing the Face Amount of Your Plan; Extended Investment
Option; Dividends and Distributions; Statements, Reports and
Notices
11. Investment Objective of the Fund
12. (a) Cover Page; Investment Objective of the Fund; The Fund
12. (b) Omitted pursuant to Instruction 3 of Form S-6
12. (c) Fund's Prospectus accompanying the Prospectus for the Plans
12. (d) Fund's Prospectus accompanying the Prospectus for the Plans
12. (e) Omitted pursuant to Instruction 3 of Form S-6
13. (a) (A) (1) Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives; Service Charges and Other Fees
13. (a) (A) (2) The Fund
13. (a) (A) (3) Omitted pursuant to Instruction 3 of Form S-6
13. (a) (A) (4) Dividends and Distributions
13. (a) (A) (5) Omitted pursuant to Instruction 3 of Form S-6
13. (a) (B) (1) Creation and Sales Charge Tables; Hypothetical Investment
Table; other relevant information
under Plan Investments and Deductions
13. (a) (B) (2) Fund Annual Expenses (After Expense Limitation); other
relevant information under Plan Investments and Deductions;
Fund's Prospectus accompanying the Prospectus for the Plans
13. (a) (B) (3) Service Charges and Other Fees
13. (a) (B) (4) Service Charges and Other Fees
13. (a) (B) (5) Omitted pursuant to Instruction 3 of Form S-6
13. (a) (C) (1) Service Charges and Other Fees
13. (a) (C) (2) Fund's Prospectus accompanying the Prospectus for the Plans
13. (a) (C) (3) Omitted pursuant to Instruction 3 of Form S-6
13. (a) (C) (4) Omitted pursuant to Instruction 3 of Form S-6
13. (a) (C) (5) Omitted pursuant to Instruction 3 of Form S-6
13. (a) (D) (1) Creation and Sales Charges; Service Charges and Other Fees
13. (a) (D) (2) Fund Annual Expenses (After Expense Limitation); other
relevant information under Plan Investments and Deductions;
Fund's Prospectus accompanying the Prospectus for the Plans
13. (a) (D) (3) Omitted pursuant to Instruction 3 of Form S-6
13. (a) (D) (4) Omitted pursuant to Instruction 3 of Form S-6
13. (a) (D) (5) Omitted pursuant to Instruction 3 of Form S-6
13. (b) Creation and Sales Charge Tables; Hypothetical Investment
Table; other relevant information under Plan Investments and
Deductions
13. (c) Creation and Sales Charge Tables; Hypothetical Investment
Table; other relevant information under Plan Investments and
Deductions; Planholders May Qualify for Reduced Sales
Charges; Changing the Face Amount of Your Plan
13. (d) Creation and Sales Charge Tables; Purchasing Two or More
Plans; Rights of Accumulation
ITEM
NUMBER LOCATION IN PROSPECTUS OR PROSPECTUS CAPTION(S)
13. (e) Service Charges and Other Fees
13. (f) Omitted pursuant to Instruction 3 of Form S-6
13. (g) Omitted pursuant to Instruction 3 of Form S-6
14. Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives; Starting a Pioneer Independence Plan;
Rights and Privileges of Planholders
15. Cover Page; Pioneer Independence Plans--Helping Planholders
Meet their Investment Objectives;
Starting a Pioneer Independence Plan; Rights and Privileges
of Planholders
16. Investment Objective of the Fund; Substitution of the
Underlying Investment; The Custodian
17. (a) Partial Withdrawal or Redemption Without Termination of the
Plan; Systematic Withdrawal Program; Cancellation and Refund
Rights; Termination of a Plan by the Planholder and
Withdrawal of Shares
17. (b) Cover Page; Starting a Pioneer Independence Plan; The
Custodian; Fund's Prospectus accompanying the Prospectus for
the Plans
17. (c) Making Investments Ahead of Schedule to Complete a Plan
Early; Extended Investment Option; Termination of a Plan by
the Sponsor or Custodian
17. (c)
18. (a) Omitted pursuant to Instruction 3 of Form S-6
18. (b) Dividends and Distributions
18. (c) Omitted pursuant to Instruction 3 of Form S-6
18. (d) Omitted pursuant to Instruction 3 of Form S-6
19. Statements, Reports and Notices; Taxes; The Custodian
20. (a) The Custodian
20. (b) The Custodian
20. (c) The Custodian
20. (d) Omitted pursuant to Instruction 3 of Form S-6
20. (e) Omitted pursuant to Instruction 3 of Form S-6
20. (f) Omitted pursuant to Instruction 3 of Form S-6
21. (a) Omitted pursuant to Instruction 3 of Form S-6
21. (b) Omitted pursuant to Instruction 3 of Form S-6
21. (c) Omitted pursuant to Instruction 3 of Form S-6
22. Custodian Agreement (exhibit)
23. Response set forth in Form N-8B-2 only
24. Omitted pursuant to Instruction 3 of Form S-6
III. ORGANIZATION, PERSONNEL AND AFFILIATED PERSONS OF DEPOSITOR
25. The Sponsor
26. (a) Omitted pursuant to Instruction 3 of Form S-6
26. (b) (1) Fund's Prospectus accompanying the Prospectus for the Plans
26. (b) (2) Fund's Prospectus accompanying the Prospectus for the Plans
26. (b) (3) The Fund; Fund's Prospectus accompanying the Prospectus for
the Plans
26. (b) (4) Omitted pursuant to Instruction 3 of Form S-6
27. The Sponsor; Fund's Prospectus accompanying the Prospectus
for the Plans
28. The Sponsor
29. The Sponsor
30. Omitted pursuant to Instruction 3 of Form S-6
ITEM
NUMBER LOCATION IN PROSPECTUS OR PROSPECTUS CAPTION(S)
31. Omitted pursuant to Instruction 3 of Form S-6
32. Omitted pursuant to Instruction 3 of Form S-6
33. Omitted pursuant to Instruction 3 of Form S-6
34. Omitted pursuant to Instruction 3 of Form S-6
IV. DISTRIBUTION AND REDEMPTION OF SECURITIES
35. (A) Omitted pursuant to Instruction 3 of Form S-6
35. (B) Pioneer Independence Plans
35. (C) Omitted pursuant to Instruction 3 of Form S-6
36. Omitted pursuant to Instruction 3 of Form S-6
37. Omitted pursuant to Instruction 3 of Form S-6
38. (a) The Sponsor
38. (b) The Sponsor
38. (c) Pioneer Independence Plans--Helping Planholders Meet their
Investment Objectives
39. (a) The Sponsor
39. (b) The Sponsor
40. Omitted pursuant to Instruction 3 of Form S-6
41. (a) The Sponsor; Fund's Prospectus accompanying the Prospectus
for the Plans
41. (b) Omitted pursuant to Instruction 1 of Form S-6
41. (c) Omitted pursuant to Instruction 1 of Form S-6
42. Omitted pursuant to Instruction 3 of Form S-6
43. Omitted pursuant to Instruction 3 of Form S-6
44. (a) Fund's Prospectus accompanying the Prospectus for the Plans
44. (b) Omitted pursuant to Instruction 3 of Form S-6
44. (c) Creation and Sales Charge Tables; Purchasing Two or More
Plans; Rights of Accumulation
45. Omitted pursuant to Instruction 3 of Form S-6
46. (a) Fund's Prospectus accompanying the Prospectus for the Plans
46. (b) Omitted pursuant to Instruction 3 of Form S-6
47. Investment Objective of the Fund; Substitution of the
Underlying Investment; The Custodian
V. INFORMATION CONCERNING THE TRUSTEE OR CUSTODIAN
48. The Custodian
49. Service Charges and Other Fees
50. Omitted pursuant to Instruction 3 of Form S-6
VI. INFORMATION CONCERNING INSURANCE OF HOLDERS OF SECURITIES
51. Omitted pursuant to Instruction 3 of Form S-6
VII. POLICY OF REGISTRANT/REGULATED INVESTMENT COMPANY
52. (a) Substitution of the Underlying Investment
52. (b) Omitted pursuant to Instruction 3 of Form S-6
52. (c) (1) Substitution of the Underlying Investment
52. (c) (2) Substitution of the Underlying Investment
ITEM
NUMBER LOCATION IN PROSPECTUS OR PROSPECTUS CAPTION(S)
52. (c) (3) Omitted pursuant to Instruction 3 of Form S-6
52. (c) (4) Substitution of the Underlying Investment
52. (c) (5) Substitution of the Underlying Investment
52. (d) Omitted pursuant to Instruction 3 of Form S-6
53. Taxes; Fund's Prospectus accompanying the Prospectus for the
Plans
VIII. FINANCIAL AND STATISTICAL INFORMATION
54. Omitted pursuant to Instruction 3 of Form S-6
55. Omitted pursuant to Instruction 3 of Form S-6
56. Omitted pursuant to Instruction 1 of Form S-6
57. Omitted pursuant to Instruction 1 of Form S-6
58. Omitted pursuant to Instruction 1 of Form S-6
59. Omitted pursuant to Instruction 1 of Form S-6
PROSPECTUS
Pioneer Independence Plans (the "Plans") for the accumulation of shares
of Pioneer Independence Fund (the "Fund") are offered by Pioneer Funds
Distributor, Inc., the sponsor and principal underwriter ("Sponsor"). Under a
Plan, an investor (the "Planholder") makes fixed monthly investments for 15
years (a total of 180 investments), with the option to make additional monthly
investments for up to a total of 25 years (a total of 300 investments). The
Plans are designed to help investors create an investment fund for future
capital or income needs and build equity over a period of years by
systematically investing a modest sum each month in shares of a mutual fund.
Investments under a Plan are applied, after authorized deductions, to
the purchase of Fund shares at net asset value. A Plan should be considered a
long term investment and is not suitable for investors seeking quick profits or
who might be unable to complete a Plan. A front-end sales load, the "Creation
and Sales Charge," is deducted from the first 12 investments. Because of the
Creation and Sales Charge, withdrawal of an investment or termination of a Plan
during the period in which the first 12 investments in a Plan are made will
probably result in a loss to the investor.
The value of a Plan is subject to fluctuations in the value of the
shares of the Fund, which in turn is based upon the value of the securities in
its portfolio. A Plan calls for monthly investments at regular intervals
regardless of the price level of the Fund shares. Planholders should therefore
consider their financial ability to continue investments in a Plan. For a
description of the investment risks associated with the Plan, see the Fund's
Prospectus. Terminating a Plan at a time when the value of the Fund shares then
held is less than the Planholder's cost associated with a Plan will result in a
loss to a Planholder.
SHARES OF THE FUND ARE OFFERED TO THE GENERAL PUBLIC ONLY THROUGH THE
PLANS.
A PLANHOLDER HAS THE RIGHT TO A 45-DAY REFUND OF THE CURRENT VALUE OF
HIS OR HER INVESTMENT, AS WELL AS CERTAIN OTHER LIMITED REFUND RIGHTS FOR
CERTAIN PERIODS OF TIME AND UNDER THE CONDITIONS DESCRIBED IN MORE DETAIL UNDER
THE HEADING "CANCELLATION AND REFUND RIGHTS" ON PAGE __.
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES
AND EXCHANGE COMMISSION NOR HAS THE SECURITIES AND EXCHANGE COMMISSION PASSED
UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.
THIS PROSPECTUS IS VALID ONLY IF ACCOMPANIED BY THE CURRENT PROSPECTUS
OF THE FUND, WHICH CONTAINS A DESCRIPTION OF THE FUND. BOTH PROSPECTUSES SHOULD
BE READ AND RETAINED FOR FUTURE REFERENCE.
THE DATE OF THIS PROSPECTUS IS FEBRUARY 12, 1998.
INFORMATION CONTAINED HEREIN IS SUBJECT TO COMPLETION OR AMENDMENT. A
REGISTRATION STATEMENT RELATING TO THESE SECURITIES HAS BEEN FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION. THESE SECURITIES MAY NOT BE SOLD NOR MAY
OFFERS TO BUY BE ACCEPTED PRIOR TO THE TIME THE REGISTRATION STATEMENT BECOMES
EFFECTIVE. THIS PROSPECTUS SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES
IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR
TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH STATE.
ii
TABLE OF CONTENTS
PAGE
----
PIONEER INDEPENDENCE PLANS -- HELPING PLANHOLDERS MEET THEIR
INVESTMENT OBJECTIVES.........................................................1
PLAN INVESTMENTS AND DEDUCTIONS...............................................2
15-YEAR PLAN INVESTMENTS AND DEDUCTIONS.......................................3
TOTAL 25-YEAR PLAN INVESTMENTS AND DEDUCTIONS WHEN EXTENDED
INVESETMENT OPTION IS USED....................................................4
A TYPICAL $100 MONTHLY INVESTMENT SCHEDULE.................................5
INVESTMENT OBJECTIVE OF THE FUND..............................................6
STARTING A PIONEER INDEPENDENCE PLAN..........................................6
CREATION AND SALES CHARGES....................................................6
RIGHTS AND PRIVILEGES OF PLANHOLDERS..........................................7
AUTOMATIC INVESTMENT OPTION................................................7
PLANHOLDERS MAY QUALIFY FOR REDUCED SALES CHARGES..........................7
MAKING INVESTMENTS AHEAD OF SCHEDULE TO COMPLETE A PLAN EARLY..............8
CHANGING THE FACE AMOUNT OF YOUR PLAN......................................8
PARTIAL WITHDRAWAL OR REDEMPTION WITHOUT TERMINATION OF THE PLAN...........9
REPLACEMENTS OF PARTIAL WITHDRAWALS.......................................11
EXTENDED INVESTMENT OPTION................................................11
SYSTEMATIC WITHDRAWAL PROGRAM.............................................12
CANCELLATION AND REFUND RIGHTS............................................12
TERMINATION OF A PLAN BY THE PLANHOLDER AND WITHDRAWAL OF SHARES..........13
REPLACEMENT PRIVILEGE ON TERMINATION......................................14
DIVIDENDS AND DISTRIBUTIONS...............................................14
VOTING RIGHTS IN FUND SHARES..............................................15
TRANSFER OR ASSIGNMENT OF RIGHTS IN A PLAN................................15
STATEMENTS, REPORTS AND NOTICES...........................................16
TERMINATION OF A PLAN BY THE SPONSOR OR CUSTODIAN............................16
SERVICE CHARGES AND OTHER FEES...............................................16
TAXES........................................................................17
THE FUND.....................................................................18
SUBSTITUTION OF THE UNDERLYING INVESTMENT....................................18
RETIREMENT PLANS.............................................................19
THE SPONSOR..................................................................20
THE CUSTODIAN................................................................21
PIONEER INDEPENDENCE PLANS...................................................22
iii
PIONEER INDEPENDENCE PLANS -- HELPING PLANHOLDERS MEET THEIR INVESTMENT
OBJECTIVES
Many people who desire to accumulate an investment portfolio for their
future through a planned long-range investment program find it difficult to
accumulate enough money to efficiently purchase stocks directly. The Plans are
designed to help investors create an investment fund for future capital or
income needs and build equity over a period of years by systematically investing
a modest sum each month in shares of a mutual fund.
The value of a Plan is subject to fluctuations in the value of the
securities in the underlying Fund's portfolio. The Planholder makes monthly Plan
investments at regular intervals regardless of the price level of the shares of
the Fund. Planholders should consider, therefore, their financial ability to
initiate and continue a Plan. Ownership of a Plan does not eliminate the risk
inherent in the ownership of any security. Terminating a Plan at a time when the
value of acquired Fund shares held in the Plan is less than the Planholder's
original cost for Fund shares held under the Plan will result in a loss to the
Planholder.
An investor should consider the following aspects of the Plan before
making an investment:
1. A Plan represents an agreement between the Planholder, the Sponsor,and
[___________________________________] (the "Custodian") under which
amounts invested (after deduction of Creation and Sales Charges and
other fees) are used to purchase shares of the Fund at net asset
value.
2. Each Plan includes a Creation and Sales Charge, which is sometimes
called a "front-end load" sales charge, equal to a maximum of 50% of
the first 12 investments. The effect of a "front-end load" is that if
you terminate your Plan between the second and eighteenth month, total
deductions may amount to as much as 15% of your total Plan investments
made up to that date and as much as 31.6% after 18 months. However,
the maximum Creation and Sales Charge for a 15-year Plan is only 3.33%
when expressed as a percentage of the total Plan investments.
Accordingly, a Plan is not suited for short-term investments. See
"Creation and Sales Charges" on page __.
3. Investments under a Plan will not constitute direct ownership of Fund
shares, but rather an interest in a trust which will have direct
ownership of the Fund's shares on behalf of each Planholder.
Planholders have only a beneficial interest in the underlying shares
of the Fund. A Planholder will, however, retain full voting rights
with respect to such underlying shares of the Fund. The Custodian will
vote the shares held for Planholders' accounts in accordance with
their instructions.
4. A Plan may be terminated by the Custodian or Sponsor if a
Planholder fails to make investments under his or her Plan for a
period of 12 consecutive
1
months or if Fund shares are not available and a substitution is not
made. See "Termination of a Plan by the Sponsor or Custodian" on
page _____. Planholders must be notified of any substitution of
the Plan's underlying investment. See "Substitution of the Underlying
Investment" on page ____.
5. The dealer firm of record has proprietary rights to all commissions,
including any service fees, earned from the Sponsor during the
duration of your Plan. The dealer firm of record is under no
obligation to transfer your Plan to another dealer firm as long
as its dealer agreement with the Sponsor is still in effect;
thus, a new dealer engaged by a Planholder may have no direct
incentive to provide services with respect to the Plan. If the
dealer firm of record chooses to release a Plan to a new dealer
firm, the new dealer firm must first complete, sign and signature
guarantee a release form that can be obtained from the Sponsor.
The form must be returned and accepted by the Custodian.
6. The Sponsor is not required to notify Planholders or seek their
approval prior to replacing the Custodian. The terms of the
Custodian Agreement, however, cannot be amended to adversely
affect the rights and privileges of a Planholder without
obtaining his or her written consent.
PLAN INVESTMENTS AND DEDUCTIONS
The following tables show the range of available monthly Plan
investments to be made, total Plan investments (known as the "face amount" of
the Plan) to be made and the Creation and Sales Charges that will be charged on
each monthly Plan investment. The total charges as a percentage of the total
amount invested under a Plan and as a percentage of the net amount invested are
also shown. This information is based solely on investments made under a Plan
and does not reflect any investment experience, dividend or income from the Fund
over the period of a Plan, or expenses of the Fund or any other charges.
The Creation and Sales Charges reflected below are specified under the
Plans and may not be increased. The Fund also incurs expenses as described under
"The Fund." Fund expenses are not specified under the terms of the Plans and may
vary from year to year.
2
15-YEAR PLAN INVESTMENTS AND DEDUCTIONS
CREATION AND SALES CHARGE
----------------------------------------------------------
PER TO NET
MONTHLY PER INVEST- TOTAL TO INVEST- MONTHLY
PLAN TOTAL INVEST- MENT SALES TOTAL MENT PLAN
INVEST- INVEST- MENT 13 THRU CHARGE INVEST- IN INVEST-
MENT MENT 1 THRU 12 180 (A) MENT SHARES MENT
- ---------- ------------- --------- -------- ------------- ------- ------- ----------
$ 50.00 $ 9,000.00 $ 25.00 $0 $ 300.00 3.33% 3.45% $ 50.00
75.00 13,500.00 37.50 0 450.00 3.33% 3.45% 75.00
100.00 18,000.00 50.00 0 600.00 3.33% 3.45% 100.00
125.00 22,500.00 62.50 0 750.00 3.33% 3.45% 125.00
150.00 27,000.00 75.00 0 900.00 3.33% 3.45% 150.00
166.66 29,998.80 83.33 0 999.96 3.33% 3.45% 166.66
200.00 36,000.00 100.00 0 1,200.00 3.33% 3.45% 200.00
250.00 45,000.00 125.00 0 1,500.00 3.33% 3.45% 250.00
300.00 54,000.00 150.00 0 1,800.00 3.33% 3.45% 300.00
350.00 63,000.00 175.00 0 2,100.00 3.33% 3.45% 350.00
400.00 72,000.00 200.00 0 2,400.00 3.33% 3.45% 400.00
450.00 81,000.00 225.00 0 2,700.00 3.33% 3.45% 450.00
500.00 90,000.00 250.00 0 3,000.00 3.33% 3.45% 500.00
600.00 108,000.00 300.00 0 3,600.00 3.33% 3.45% 600.00
700.00 126,000.00 350.00 0 4,200.00 3.33% 3.45% 700.00
800.00 144,000.00 400.00 0 4,800.00 3.33% 3.45% 800.00
900.00 162,000.00 450.00 0 5,400.00 3.33% 3.45% 900.00
1,000.00 180,000.00 500.00 0 6,000.00 3.33% 3.45% 1,000.00
1,250.00 225,000.00 625.00 0 7,500.00 3.33% 3.45% 1,250.00
1,500.00 270,000.00 675.00 0 8,100.00 3.00% 3.09% 1,500.00
1,750.00 315,000.00 700.00 0 8,400.00 2.67% 2.74% 1,750.00
2,000.00 360,000.00 750.00 0 9,000.00 2.50% 2.56% 2,000.00
2,500.00 450,000.00 812.50 0 9,750.00 2.17% 2.21% 2,500.00
5,000.00 900,000.00 1,250.00 0 15,000.00 1.67% 1.69% 5,000.00
10,000.00 1,800,000.00 1,500.00 0 19,000.00 1.00% 1.01% 10,000.00
NOTES:
(A) Does not include an annual service fee paid by the Fund of up to 0.25%
based on the Fund's average daily net assets. See "Distribution Plan" on
page __ of the Fund's Prospectus.
3
TOTAL 25-YEAR PLAN INVESTMENTS AND DEDUCTIONS WHEN
EXTENDED INVESTMENT OPTION IS USED
CREATION AND SALES CHARGE
-------------------------------------------------------
PER TO NET
MONTHLY PER INVEST- TOTAL TO INVEST- MONTHLY
PLAN TOTAL INVEST- MENT SALES TOTAL MENT PLAN
INVEST- INVEST- MENT 13 THRU CHARGE INVEST- IN INVEST-
MENT MENT 1 THRU 12 180 (A) MENT SHARES MENT
- ---------- ------------- --------- -------- ---------- ------- ------- ----------
$ 50.00 $ 15,000.00 $ 25.00 $0 $ 300.00 2.00% 2.04% $ 50.00
75.00 22,500.00 37.50 0 450.00 2.00% 2.04% 75.00
100.00 30,000.00 50.00 0 600.00 2.00% 2.04% 100.00
125.00 37,500.00 62.50 0 750.00 2.00% 2.04% 125.00
150.00 45,000.00 75.00 0 900.00 2.00% 2.04% 150.00
166.66 49,988.00 83.33 0 999.96 2.00% 2.04% 166.66
200.00 60,000.00 100.00 0 1,200.00 2.00% 2.04% 200.00
250.00 75,000.00 125.00 0 1,500.00 2.00% 2.04% 250.00
300.00 90,000.00 150.00 0 1,800.00 2.00% 2.04% 300.00
350.00 105,000.00 175.00 0 2,100.00 2.00% 2.04% 350.00
400.00 120,000.00 200.00 0 2,400.00 2.00% 2.04% 400.00
450.00 135,000.00 225.00 0 2,700.00 2.00% 2.04% 450.00
500.00 150,000.00 250.00 0 3,000.00 2.00% 2.04% 500.00
600.00 180,000.00 300.00 0 3,600.00 2.00% 2.04% 600.00
700.00 210,000.00 350.00 0 4,200.00 2.00% 2.04% 700.00
800.00 240,000.00 400.00 0 4,800.00 2.00% 2.04% 800.00
900.00 270,000.00 450.00 0 5,400.00 2.00% 2.04% 900.00
1,000.00 300,000.00 500.00 0 6,000.00 2.00% 2.04% 1,000.00
1,250.00 375,000.00 625.00 0 7,500.00 2.00% 2.04% 1,250.00
1,500.00 450,000.00 675.00 0 8,100.00 1.80% 1.83% 1,500.00
1,750.00 525,000.00 700.00 0 8,400.00 1.60% 1.63% 1,750.00
2,000.00 600,000.00 750.00 0 9,000.00 1.50% 1.52% 2,000.00
2,500.00 750,000.00 812.50 0 9,750.00 1.30% 1.32% 2,500.00
5,000.00 1,500,000.00 1,250.00 0 15,000.00 1.00% 1.01% 5,000.00
10,000.00 3,000,000.00 1,500,00 0 10,000.00 0.60% 0.60% 10,000.00
NOTES:
(A) Does not include an annual service fee paid by the Fund of up to 0.25%
based on the Fund's average daily net assets. See "Distribution Plan" on
page __ of the Fund's Prospectus.
4
A TYPICAL $100 MONTHLY INVESTMENT PLAN
(Assuming that all investments are made in accordance
with the terms of Pioneer Independence Plans)
AT THE END OF AT THE END OF AT THE END OF
AGGREGATE 6 MONTHS 1 YEAR 2 YEARS
AMOUNT (6 INVESTMENTS) (12 INVESTMENTS) (24 INVESTMENTS)
----------------------- ------------------------- ------------------------ ------------------------
% % % %
of Total of Total of Total of Total
Amount Investment Amount Investment Amount Investment Amount Investment
- ----------------------------------------------------------------------------------------------------------------------------------
15 YEARS
(180 INVESTMENTS)
Total Investments $18,000 100.00% $600 100% $1,200 100% $2,400 100%
Deduct:
Creation and
Sales Charge $600 3.33% $300 50% $600 50% $600 25%
Net Amount Invested
in a Plan $17,400 96.67% $300 50% $600 50% $1,800 75%
25 YEARS
(300 INVESTMENTS)
Total Investments $30,000 100.00% $600 100% $1,200 100% $2,400 100%
Deduct:
Creation and
Sales Charge $600 2.00% $300 50% $600 50% $600 25%
Net Amount Invested
in a Plan $29,400 98.00% $300 50% $600 50% $1,800 75%
NOTES:
(1) Dividends and distributions received on Fund shares, during the periods
shown, have not been included or reflected in any way in the foregoing
figures.
(2) The 25-year investment schedule reflects the charges applicable to a
15-year Plan which is continued under the extended investment option.
FUND ANNUAL EXPENSES (AFTER EXPENSE LIMITATION)
(as a percentage of the Fund's estimated average daily net assets)
Advisory Fee . . . . . . . . . . . . . . . . 0.75%
12b-1 Fee . . . . . . . . . . . . . . . . . 0.25%
Other Expenses (estimated) . . . . . . . 0.50%
----
Total Expenses . . . . . . . . . . . . . . 1.50%
====
Pioneering Management Corporation, the Fund's investment adviser, has agreed not
to impose all or a portion of its management fee and to make other arrangements,
if necessary, to limit the operating expenses of the Fund to 1.50% of the Fund's
average daily net assets. This agreement is voluntary and temporary and may be
revised or terminated at any time after the expiration of the 1998 fiscal year.
For a discussion of Fund expenses, refer to "Expense Information" and
"Management of the Fund" on pages ___ and ____ of the Fund's Prospectus.
5
INVESTMENT OBJECTIVE OF THE FUND
Pioneer Independence Fund ("the Fund") is an open-end, management
investment company. The Fund seeks capital appreciation. The Fund will invest in
a diversified portfolio of securities consisting primarily of common stocks. For
more information about the Fund, including charges and expenses, see the
attached Fund Prospectus. Read it carefully before you invest or send money.
Fund returns and share prices fluctuate and, upon redemption, the value of the
Fund shares held in a Plan may be more or less than the purchase price. The past
performance of an investment does not guarantee future results.
STARTING A PIONEER INDEPENDENCE PLAN
To start a Plan, complete the attached Plan Application indicating the
monthly Plan investment amount for your Plan. Because a Plan is specifically
designed for regular monthly investing, you are encouraged to invest through an
automatic investment option such as military government allotment or a
preauthorized check transaction (a "PACT").
To elect an automatic investment option complete the required forms and
forward them to the Custodian. See "Automatic Investment Option" on page ___.
To invest by check, send your check to the Custodian with your Plan
Application. Write your check for the amount of your initial monthly Plan
investment and make it payable to Pioneer Independence Plans. As described in
"Service Charges and Other Fees," a processing fee may be charged for each
investment made by check.
After your Plan Application is accepted by the Custodian and your
initial investment is received, you will receive a confirmation statement
showing the number of whole and fractional shares of the Fund purchased for your
Plan. After the initial investment, Planholders should send regularly scheduled
monthly Plan investments, made payable to the Pioneer Independence Plans,
directly to the Custodian. Each monthly Plan investment, after applicable
deductions, will be applied to the purchase of Fund shares at the then current
net asset value. If the Custodian does not receive monthly Plan investments for
a period of 12 consecutive months, then the Sponsor or Custodian may terminate
your Plan as described under "Termination of a Plan by the Sponsor or Custodian"
on page ___.
A Planholder may terminate a Plan completely or partially at any time
as described on pages ___. Any correspondence regarding your Plan should be
addressed to [insert entity], [insert address].
CREATION AND SALES CHARGES
The Sponsor receives a Creation and Sales Charge as compensation for
its services and costs in creating the Plans and arranging for their
administration, for making the Fund shares available to Planholders at their net
asset value and for certain selling expenses and commissions with respect to the
Plans. These charges are deducted from each of the first 12 monthly Plan
investments. For example, on a $100 a month Plan, $50 is deducted from each of
the first 12
6
monthly Plan investments. After the 12th investment, Creation and Sales
Charges no longer apply to subsequent monthly investments. Deductions will
decrease proportionately on certain larger Plans. See "Plan Investments and
Deductions" on page ____.
RIGHTS AND PRIVILEGES OF PLANHOLDERS
A Plan is established in the name of the Planholder at the time of
issuance and constitutes an individual agreement among the Planholder, the
Sponsor and the Custodian. No agent or other person has the authority to modify,
alter or otherwise change the terms of the Plan or to bind the Sponsor, the
Custodian or the issuer of Fund shares by any statement, written or oral, not
contained in this Prospectus. Under the terms of a Plan, Planholders enjoy
certain rights, privileges and options which are described as follows.
AUTOMATIC INVESTMENT OPTION
If a Planholder wishes to have investments in a Plan made automatically
each month without having to write a check and mail it to the Custodian, the
Planholder may elect an automatic investment option for the Plan. Each Plan for
which an automatic investment option has been elected is funded automatically
each month through the Planholder's bank account, PACT or, for U.S. military
personnel, a government allotment. To initiate an automatic investment option,
the Planholder should complete the appropriate forms and forward them to the
Custodian. A request to terminate a PACT must be received by the Custodian at
least 15 days prior to the date of the next scheduled monthly Plan investment.
PLANHOLDERS MAY QUALIFY FOR REDUCED SALES CHARGES
To qualify for reduced Creation and Sales Charges, the Planholder must
submit a written request that the face amounts of existing Plans and/or the then
current net asset value of other Pioneer mutual fund accounts be combined with
the face amounts indicated on any new Plan applications for the purpose of
determining the applicable Creation and Sales Charge for the new Plan(s).
PURCHASING TWO OR MORE PLANS. The face amounts of two or more Plans
purchased at one time by "any person" (see below) may be combined to take
advantage of the lower Creation and Sales Charges available on larger sized
Plans. Creation and Sales Charges will be determined by the face amounts of the
Plans selected.
The term "any person" includes:
[bullet] an individual, his or her spouse and their children under the
age of 21 and their grandchildren under age 21 who are
beneficiaries of a Uniform Gifts to Minors Act or Uniform
Transfers to Minors Act account in which the Planholder serves as
custodian, or
[bullet] a trustee or other fiduciary of a single trust estate or single
fiduciary account (including a pension, profit-sharing or other
employee benefit trust created pursuant
7
to a plan qualified under Section 401 of the Internal Revenue
Code of 1986, as amended (the "Code")).
RIGHTS OF ACCUMULATION. When purchasing any new Plan(s) or increasing
the face amount of any existing Plan(s), a right of accumulation may exist. If
such Plans are registered in the name of "any person" (see above), the Plans may
qualify for a reduced Creation and Sales Charge on the new Plan by combining the
face amount of the new Plan with the face amount(s) of any existing Plan(s) on
which investments due are current (see below) and/or with the current value of
shares owned in certain other Pioneer funds for which Pioneering Management
Corporation or an affiliate is the investment manager.
The new Plan includes the total face amounts of any new Plans plus the
face amounts of Plans on which an increase in monthly investments is requested.
For rights of accumulation, a Plan is considered to be current if: (1) it has
been completed and not redeemed; (2) it has not been completed but has at least
as many investments recorded as there are months elapsed since the establishment
date or since a Plan face amount increase date; or (3) the Planholder is a tax
qualified plan or an individual retirement account ("IRA").
MAKING INVESTMENTS AHEAD OF SCHEDULE TO COMPLETE A PLAN EARLY
A Planholder may complete his or her Plan ahead of schedule by making
monthly Plan investments in advance of their normal due date, but the Planholder
may not normally make more than 24 investments in any one calendar year
(including the current investment). In addition to these investments made in
advance of their scheduled dates, a Planholder may make an additional 24
investments during the life of the Plan. Monthly Plan investments may be accrued
and periodically paid in a lump sum to make a Plan that is in arrears current
(see "Planholders May Qualify for Reduced Sales Charges"). These prepayment
rules may be waived for a transfer or rollover of an IRA into a Plan or in the
event of the death of the Planholder. There is no reduction in the Creation and
Sales Charge for advance investments.
CHANGING THE FACE AMOUNT OF YOUR PLAN
The face amount of a Plan is the total value of the monthly Plan
investments scheduled by the Planholder to be made in his or her Plan. The range
of face amounts offered is listed under "Plan Investments and Deductions" on
page __. Increases and decreases in face amount can be made by a written notice
to the Custodian, accompanied by a new completed Plan Application. A Planholder
may change the face amount of a Plan under the following circumstances:
A Planholder may increase the face amount of his or her Plan at any
time, provided the new face amount is a face amount offered by the Sponsor. An
increase in the face amount of a Plan does not create new cancellation and
refund rights as to the new Plan that is created.
A Planholder may decrease the face amount of his or her Plan by 50%
within 12 investments of the commencement of a Plan. If a decrease is to occur
on an existing Plan that
8
previously has been increased, the decrease cannot result in a new face amount
lower than that of the original Plan.
For each face amount change, the Creation and Sales Charge already paid
on the existing Plan will be recomputed to reflect the new Plan face amount. The
Creation and Sales Charges already paid on the existing Plan will be credited to
the Creation and Sales Charge applicable to the new face amount. Excess Creation
and Sales Charges under a Plan will be invested directly in Fund shares for the
Planholder at the net asset value as of the day the change occurs. Any
additional Creation and Sales Charges due under a Plan will be assessed on the
next 12 monthly Plan investments.
PARTIAL WITHDRAWAL OR REDEMPTION WITHOUT TERMINATION OF THE PLAN
A Planholder may request a partial withdrawal or redemption of his or
her Fund shares without terminating the Plan, only if the Planholder has owned
his or her Plan for at least 45 days. Withdrawal or redemption of all of a
Planholder's Fund shares will normally result in termination of the Plan.
For Plans that have been owned for at least 45 days, the Planholder may
elect to withdraw up to 90% of the underlying Fund shares from his or her Plan
(and hold such Fund shares directly) or may direct the Custodian, as the
Planholder's agent, to withdraw and then redeem up to 90% of the Planholder's
Fund shares and pay the proceeds to the Planholder. Requests under this
privilege that exceed 90% of the net asset value of the Fund shares in the
Planholder's account may result in full redemption of the entire balance in the
Plan.
A request for a partial withdrawal or redemption may be made in writing
or by telephone. While there is currently no limit to the number of partial
withdrawals or redemptions that can be made by a Planholder, each partial
withdrawal or redemption must be at least $100. Shares are withdrawn or redeemed
at their net asset value next determined after a request in proper form
(including signature guarantees and other documentation, if applicable) is
received by the Custodian. Requests received in proper form prior to the close
of the New York Stock Exchange (the "Exchange") on any business day of the Fund
will be confirmed at the price determined as of the close of that day. As
discussed under "Taxes," there may be federal income tax consequences upon a
partial redemption of Fund shares.
WRITTEN REQUESTS. Written requests must be signed by all registered
Planholders and should be sent to the Custodian. Redemption proceeds will be
mailed to the address of record unless instructions to the contrary are received
with the Planholders' signatures guaranteed. In the case of a cash withdrawal (a
redemption), the Custodian or Sponsor may require additional documentation. No
partial withdrawal or redemption shall affect the total number of monthly Plan
investments to be made or the unpaid balance of monthly Plan investments. As
discussed under "Taxes," there may be federal income tax consequences upon a
partial liquidation of Fund shares.
If a cash withdrawal is: (a) more than $100,000, (b) made payable to an
individual other than the Planholder of record, or (c) to be sent to an address
other than the address of record, a
9
letter of instruction will be required, signed by all Planholders with
signatures guaranteed in a form acceptable to the Custodian. A Planholder should
be able to obtain an acceptable signature guarantee from a bank, broker, dealer,
credit union (if authorized under state law), securities exchange or
association, clearing agency or savings association. Signature guarantees are
not accepted by facsimile. A notarized signature will not be sufficient for the
request to be in proper order. A signature guarantee is not required for cash
withdrawals of $100,000 or less, if requested by and payable to all Planholders
of record, and to be sent to the address of record for that Plan account.
However, the Sponsor reserves the right to require signature guarantees on all
redemptions. A signature guarantee is required in connection with most requests
for transfer of Plan ownership. Also, a signature guarantee is required if the
Sponsor or the Custodian, in the sole discretion of either, believes that a
signature guarantee is warranted. All documents must be in proper order before
any withdrawals or redemptions can be executed.
TELEPHONE REQUESTS. Telephone withdrawals and redemptions by
Planholders will automatically be authorized for each Plan (except Plans
established as retirement accounts) unless the Planholder indicates otherwise on
his or her Plan Application. For personal assistance, call the Custodian at
1-800-xxx-xxxx between [ ] a.m. and [ ] p.m. Eastern time on weekdays. YOU ARE
STRONGLY URGED TO CONSULT WITH YOUR FINANCIAL REPRESENTATIVE PRIOR TO REQUESTING
ANY TELEPHONE TRANSACTION, AS THERE MAY BE TAX CONSEQUENCES AND/OR PENALTIES.
A cash withdrawal can be made as a telephone transaction only if: (1)
the proceeds are made payable to the Planholder(s) of record and mailed to the
address of record; (2) there has been no change in the address of record on the
Plan within the preceding 30 days; (3) the person requesting the withdrawal can
provide proper identification information; and (4) the proceeds do not exceed
$100,000. The cancellation and refund rights set forth on page __ of this
Prospectus may not be exercised by telephone. No telephone transaction request
will be accepted which specifies a particular transaction date or any other
special conditions.
The Sponsor has made arrangements with certain dealers to accept
telephone transaction instructions from the dealer on behalf of Plans for which
the dealer is the firm of record. The Sponsor reserves the right to impose
conditions on these dealers, including the condition that they enter into
agreements (which contain additional conditions with respect to effecting
telephone transactions) with the Sponsor. Any resulting loss from the dealer's
failure to submit a telephone transaction within the prescribed time frame will
be borne by that dealer.
To confirm that each transaction instruction received by telephone is
genuine, the Custodian will record each telephone transaction, require the
caller to provide proper personal identification information and send the
Planholder a written confirmation of each telephone transaction. If reasonable
procedures, such as those described above, are followed, neither Pioneer
Independence Plans, the Fund, the Custodian or the Sponsor will be responsible
for the authenticity of instructions received by telephone; therefore, the
Planholder bears the risk of loss for unauthorized or fraudulent telephone
transactions. The Custodian or Sponsor may implement other procedures from time
to time. During times of economic turmoil or market volatility or as a result of
severe weather or a natural disaster, it may be difficult to contact the
Custodian by
10
telephone to institute a transaction. At such times, a Planholder should
communicate with the Custodian in writing.
GENERAL. Normally, a Planholder will be sent a check as a result of
redeeming Fund shares under this or any of the options described in this
Prospectus within seven days after such a request is received by the Custodian
and all documents are in proper order. However, the Custodian will not mail
redemption proceeds to a Planholder until checks or other orders for payment
received for the Fund shares purchased by the Planholder have cleared.
Redemptions may be suspended and payments of redemption proceeds may be
postponed during any period in which any of the following conditions exist: the
Exchange is closed, other than for customary weekends and holidays; trading on
the Exchange is restricted; an emergency exists as a result of which disposal by
the Fund of securities owned by it is not reasonably practicable or it is not
reasonably practicable for the Fund to fairly determine the value of the net
assets of its portfolio; or the Securities and Exchange Commission, by order, so
permits.
REPLACEMENTS OF PARTIAL WITHDRAWALS
After a partial cash withdrawal, the Planholder may, but is not
required to, restore the value of his or her Plan by remitting to the Custodian
an amount equal to the amount redeemed. The reinvested amount will be used to
purchase Fund shares for the Planholder's account at the next determined net
asset value for the Fund's shares. Any repayment of a partial cash withdrawal
may not be made before 90 days from the date of redemption, except in the case
of Planholder accounts that are IRAs, for which a reinvestment may be made after
a period of 45 days. Full reinstatement of a partial cash withdrawal need not be
accomplished in one transaction if the amount redeemed exceeds $500. However,
the minimum for each reinvestment is 25% of the amount withdrawn or $500,
whichever is less. Replacements of partial cash withdrawals must be clearly
identified as such to distinguish them from regular monthly Plan investments.
EXTENDED INVESTMENT OPTION
Under the extended investment option, a Planholder may continue making
monthly investments after completing all scheduled investments under a Plan. The
extended investment option must be exercised within six months after completing
all scheduled investments under a Plan.
If under this option a Planholder fails to make regularly scheduled
investments for six consecutive months, after being credited for any advance
investments made under the extended investment option, the Planholder forfeits
his or her right to make such additional investments. All extended investment
options will terminate on the date the 300th monthly investment is made under
the Plan, and no further investments will be accepted after that date.
11
SYSTEMATIC WITHDRAWAL PROGRAM
A Planholder may elect a systematic withdrawal program upon completion
of all regularly scheduled investments. A Planholder may also elect a systematic
withdrawal program from an incomplete Plan if the withdrawal is to be taken from
a Plan that is part of an IRA and the Planholder has reached age 59 1/2.
Under a systematic withdrawal program, the Custodian, as the
Planholder's agent, will redeem sufficient Fund shares from the Plan at the net
asset value at the time of such redemption to provide regular withdrawal
payments of $50 or more on a monthly or quarterly basis, as elected by the
Planholder. Except for the $50 minimum, there is no limitation on the size of
withdrawals. All systematic withdrawal program transactions will be made as of
the end of the day specified by the Planholder for the withdrawal (or, if such a
day is not a business day, the first business day after that date).
A Planholder has the right to change the dollar amount of withdrawals
paid to him or her under the systematic withdrawal program or to discontinue a
systematic withdrawal program at any time. There are no charges imposed for any
regular withdrawals under a systematic withdrawal program.
The Plan will remain in full force and effect with all rights and
privileges until all Fund shares have been withdrawn from the Planholder's
account. While the systematic withdrawal program is in effect, a Planholder must
elect to reinvest all dividends and distributions in Fund shares to be held in
his or her Plan account. A Planholder should realize that withdrawals in excess
of dividends and distributions will be made from principal and may eventually
exhaust the Planholder's account. Also, a gain or loss for tax purposes may be
realized by the Planholder on each withdrawal payment.
The Sponsor reserves the right to discontinue offering the systematic
withdrawal program at any time after 90 days' notification to all Planholders.
CANCELLATION AND REFUND RIGHTS
A Planholder has certain rights of cancellation.
Within 60 days after the first investment under a Plan (which, for this
purpose, is the date appearing on the confirmation statement following the
initial investment), the Custodian will send a notice to the Planholder
regarding the Planholder's cancellation rights. A Planholder may elect to cancel
his or her Plan within 45 days of the mailing date of that notice by submitting
a written request for cancellation to the Custodian, signed by the Planholder.
In addition, a cancellation request involving a Plan with current net assets
valued at more than $100,000 must be signature guaranteed, as described under
"Partial Withdrawal or Redemption Without Termination of the Plan." The
Planholder will receive a payment equal to the sum of (1) the total current net
asset value of the Fund shares credited to the Planholder's account as of the
end of the business day that the cancellation request is received by the
Custodian and (2) a refund of all Creation and Sales Charges paid under the
Plan.
12
In addition, at any time within an 18-month period after the purchase
of a Plan, the Planholder may surrender his or her Plan. To surrender a Plan,
the Planholder should send to the Custodian a written request signed by the
Planholder. In addition, a surrender request involving a Plan with current net
assets valued at more than $100,000 must be signature guaranteed, as described
under "Partial Withdrawal or Redemption Without Termination of the Plan." Upon
surrender, the Planholder will receive from the Custodian a payment equal to the
sum of (a) the total current net asset value of the Fund shares credited to the
Planholder's account as of the end of the business day of the surrender and (b)
a refund equal to the amount of all sales charges paid to the date of surrender
minus 15% of the gross amount the Planholder has paid as of that date. Service
charges and other fees will not be refunded.
If a Planholder surrenders his or her Plan under this cancellation and
refund privilege, the Planholder may not reinstate his or her Plan at net asset
value until all Creation and Sales Charges included in the redemption amount are
first deducted from the reinstatement amount. This requirement is more fully
explained below in "Replacement Privilege on Termination." Exercise of
cancellation rights may be a taxable event for the Planholder. Planholders
should consult their tax advisers.
The Custodian will send the Planholder a written notice of the 18-month
right of cancellation if either of the following occur:
(1) If, during the first 15 months after the date of issuance of the
Plan, the Planholder has missed three or more investments; or
(2) Following the first 15 months after the date of issuance of
the Plan, but prior to the expiration of 18 months after such date, the
Planholder has missed one or more investments. (If the Custodian has already
sent a notice at 15 months, a second notice will not be required even if
additional investments are missed.)
These notices will inform the Planholder of his or her rights of
cancellation as set forth in the preceding paragraph and will also include the
value of the Planholder's account at the time the notice is sent.
TERMINATION OF A PLAN BY THE PLANHOLDER AND WITHDRAWAL OF SHARES
A Planholder may terminate a Plan at any time by sending a written
request to the Custodian.
In terminating a Plan, the Planholder may, by written request signed by
the Planholder, instruct the Custodian to: (a) redeem the Fund shares held in
the Planholder's account or (b) deliver a confirmation statement for the Fund
shares held under the Plan to the Planholder.
If the Planholder directs the redemption of Fund shares, the Custodian
will withdraw the Fund shares from the Plan account, redeem the Fund shares and
send the proceeds directly to the Planholder. If the amount of the redemption is
more than $100,000, is made payable to an individual other than the Planholder
of record, or is to be sent to an address other than the
13
address of record, the Planholder's request must be signature guaranteed as
described under "Partial Withdrawal or Redemption Without Termination of the
Plan." All documents must be in good order before a redemption can be executed.
The redemption price will be the net asset value of the Fund shares next
determined after such documents have been received in proper order by the
Custodian. The redemption of Fund shares may be a taxable event for the
Planholder.
If the Planholder directs the delivery of the Fund shares held under
the Plan, sufficient shares of the Fund will be redeemed by the Custodian to pay
any authorized deductions and/or transfer taxes and the remaining Fund shares
will be registered in the name of the Planholder. A Planholder who chooses to
receive Fund shares, may exchange his or her Fund shares for shares of certain
other Pioneer mutual funds for which Pioneering Management Corporation or an
affiliate is the investment manager. The exchange privilege is more fully
described in the Fund's Prospectus under the caption "Shareholder Services."
Planholders will not be permitted to exchange such shares back into the Fund or
to make additional direct investments in the Fund.
REPLACEMENT PRIVILEGE ON TERMINATION
For Plans that have been completely terminated, the replacement
privilege allows reinvestment of an amount equal to at least 10% of the net
asset value of the Fund shares redeemed from a Plan, without any Creation and
Sales Charge except as described below, in a reopened identically registered
Plan account. Reinvestment is made at the net asset value per Fund share next
determined following the timely receipt by the Custodian of a replacement order
and payment. The replacement privilege must be exercised within 90 days
following the date of termination of the Plan. For the federal income tax
effects of replacement and reinvestment, see "Taxes" on page __.
The replacement privilege is available to Planholders who have not
previously exercised this privilege. The replacement privilege does not abrogate
the partial withdrawal or redemption without termination privilege described on
page _____. If a Planholder has redeemed Fund shares from a Plan under the
procedures described under "Cancellation and Refund Rights" on page ___, the
Planholder will not be permitted to replace at net asset value the proceeds from
such a cancellation or refund until all refunded Creation and Sales Charges have
been deducted from the amount offered for the replacement.
The Sponsor may in its sole discretion offer additional replacement
options from time to time.
DIVIDENDS AND DISTRIBUTIONS
All Fund dividends and distributions, after any applicable deductions,
are reinvested automatically in additional shares of the Fund as of the payment
date, at the net asset value determined on the ex-dividend date of the dividend
or distribution, unless the Planholder elects to receive the dividends or
distribution in cash. No Creation and Sales Charge is made on any such
reinvestments. If the Planholder wishes to receive the dividends and other
distributions in cash - rather than in additional shares of the Fund - the
Planholder must so instruct the Custodian in
14
writing. Such instructions must be received at least seven days prior to
the record date of a dividend or distribution. A Planholder may change these
instructions at any time.
Dividends and other distributions by the Fund are made on a per-share
basis. After every distribution, the value of a Fund share drops by the amount
of the distribution. If a Plan investment is made shortly before the ex-dividend
date of the dividend or distribution, the Planholder will pay the full price for
the shares including the amount that is soon to be paid as a dividend.
VOTING RIGHTS IN FUND SHARES
Pioneer Independence Plans, as a shareholder of the Fund, has certain
voting rights in Fund shares which are held on behalf of the Plans. Each
Planholder is permitted to exercise voting rights attributable to the Fund
shares held in the Planholder's account. The Custodian will vote the Fund shares
held in a Planholder's account in accordance with that Planholder's
instructions. In the absence of such instructions, the Custodian will vote a
Planholder's shares in the same proportion as it votes the shares for which it
has received instructions from other Planholders.
Planholders may attend any shareholder meetings of the Fund, and if a
Planholder wishes to vote in person the Fund shares held in his or her Plan
account, the Planholder may submit a written request to the Custodian prior to
the meeting for a proxy which will permit the Fund shares to be voted in person
by the Planholder.
TRANSFER OR ASSIGNMENT OF RIGHTS IN A PLAN
If a Planholder desires to secure a loan, the Planholder (other than a
tax qualified retirement plan or an IRA) may assign his or her rights to a bank
or other lending institution. The bank or other lending institution, however,
will not be entitled to exercise the right of partial withdrawal or redemption.
During the term of the assignment, the Planholder will be entitled to all
dividends and distributions on Fund shares.
A Planholder may also transfer his or her rights to another person: for
example, a relative, charitable institution or trust. This may be accomplished
in several ways:
(1) A Planholder may transfer his or her right, title and interest
to another person whose only right shall be the privilege of complete and prompt
withdrawal from the Plan; or
(2) A Planholder may transfer his or her entire right, title and
interest to another person, trustee or custodian acceptable to the Sponsor, who
has made application to the Sponsor for a similar Plan.
The Custodian will provide Planholders with the appropriate assignment
forms upon request. Transfers may be subject to income and other taxes, and may
be restricted for those Plans held in connection with IRAs or qualified
retirement plans.
15
STATEMENTS, REPORTS AND NOTICES
For the first 18 months after the issuance of a Plan, the Custodian
will mail to each Planholder a confirmation statement for each financial
transaction as it occurs. Beginning after the 19th month, the Custodian may mail
statements to Planholders quarterly. Each transaction confirmation statement,
quarterly statement or other statement, as required, will state the price per
share of the Fund shares purchased after applicable deductions and the total
number of Fund shares held in the Planholder's account. Any notices, reports or
documents required or authorized to be given or sent to a Planholder under this
Prospectus will be conclusively deemed to have been given or sent upon mailing
to the Planholder's address of record, and the date of such mailing shall be
deemed the date of the giving of such notice.
TERMINATION OF A PLAN BY THE SPONSOR OR CUSTODIAN
Although a Plan calls for regular monthly investments over a 15-year
period or for an extended 25-year period, neither the Sponsor nor the Custodian
can elect to terminate a Plan until 300 investments have been made unless the
Planholder has not made investments under his or her Plan for more than 12
consecutive months or unless Fund shares are not obtainable and a substitution
is not made. The period of default will not start until a Planholder has been
given full credit for a period equal to the number of any advance monthly Plan
investments made.
After 300 investments, or if other events justify termination, the
Sponsor or the Custodian has the right to terminate a Plan 60 days after mailing
a written notice to the Planholder. Such notice will request that the Planholder
elect to have the Plan distributed either in cash or in Fund shares after
deduction of all authorized charges, fees and expenses. On termination, the
Custodian (as the Planholder's agent) may surrender for liquidation all of the
Fund shares credited to a Planholder's account, or sufficient Fund shares to pay
all authorized deductions. The balance of Fund shares and/or cash, after payment
of all authorized deductions, will be held by the Custodian for delivery to a
Planholder against the surrender of a Plan.
No interest will be paid by the Custodian on any cash balances. If the
Plan is not surrendered within 60 days after the notice of termination, the
Custodian, at its discretion, may at any time thereafter fully discharge its
obligations by mailing a confirmation statement for the Fund shares or a check,
drawn in accordance with the terms of the Plan, to the address of record noted
in the Plan account. The Planholder will then have no further rights under his
or her Plan except that if the confirmation statement or check is returned to
the Custodian undelivered, the Custodian will continue to hold these assets for
the benefit of the Planholder, subject only to the escheatment laws.
SERVICE CHARGES AND OTHER FEES
Except as described below, there are currently no deductions against
Planholders' accounts or against Fund dividends and/or distributions to
compensate the Sponsor or the Custodian for its services.
16
If a Plan is not current and no Plan investments have been made for a
12-month period, the Custodian will deduct for its services a fee of $12 per
year. A charge of $2.50 will be deducted for each monthly Plan investment
received by check or other order for the payment of money which is not honored
by the bank on which it is drawn (up to a maximum of $5 per event). A charge of
$2.50 will be made for terminating a Plan on which investments have not been
completed.
Plans established as IRAs are subject to an annual IRA custodial fee of
$10 which is paid to The Pioneer Group, Inc., as IRA custodian. This annual fee
will be deducted from the Plan account unless a separate check is received in
payment of the IRA custodial fee.
The Fund and the Sponsor reserve the right to impose a processing fee
of $1.50 for each monthly Plan investment received by check (up to a maximum of
$5 per event). No charge will be imposed on the initial investment to establish
a Plan. There is no processing fee on monthly Plan investments made through an
automatic investment option.
All other Custodian fees which would otherwise be charged to the Plan
or the Planholders, or deducted from Fund dividends and/or distributions, may be
paid by the Fund voluntarily. Although there is no current intention to do so,
the Fund reserves the right to cease paying such fees, and the Sponsor reserves
the right to cause deductions in the future against the Plans, the Planholders,
and Fund dividends and/or distributions to compensate the Custodian for its
services.
TAXES
Under the Code, each Planholder is deemed, for federal income tax
purposes, to own directly the Fund shares accumulated in his or her Plan
account. Designated long-term capital gain distributions, which are
automatically reinvested in additional Fund shares, are treated as long-term
capital gains. The tax cost of the Fund shares acquired is the amount paid for
those shares, including the Creation and Sales Charge.
As more fully described under "Federal Tax Information" in the
Prospectus of the Fund, dividends and distributions paid by the Fund are
reportable for federal income tax purposes by Planholders who are otherwise
subject to federal income tax. Dividends and distributions are reportable by
Planholders regardless of whether the amounts are invested in additional shares
of the Fund or are received in cash.
Gains realized on cash withdrawals (redemptions) generally also will be
subject to taxes, and the ability to deduct losses from such redemptions may be
limited. There may also be limitations on the amount of loss a Planholder may
recognize in the event of cancellation and refund or a replacement and
reinvestment. In general, the Code restricts loss recognition when securities
are sold and reacquired in a short period of time; these restrictions may in
certain circumstances apply to Planholders.
An appropriate notice regarding taxes will be sent to Planholders each
year by the Custodian. Any taxes payable with respect to any of the profits
realized on sales or transfers by the Custodian or the
17
Sponsor of Fund shares or other property credited to a Planholder's account
in accordance with the provisions of a Plan and any taxes levied or assessed
with respect to Fund shares or the income therefrom shall be borne by
Planholders individually and not by the Custodian or the Sponsor.
The foregoing is a brief summary of certain federal income tax
consequences to Planholders of investing in the Fund through Pioneer
Independence Plans. Planholders should consult the Fund Prospectus and Statement
of Additional Information and their tax advisers for additional information.
THE FUND
The objective and investment policies of Pioneer Independence Fund are
described in the attached Prospectus of the Fund. Shares of the Fund are
credited to a Plan, after applicable deductions are made, at the net asset value
as of the end of the business day on which the Custodian receives the Plan's
investments.
Dividends and distributions paid on Fund shares will be reinvested by
the Custodian in additional Fund shares for the Plans at the then current net
asset value, unless a Planholder elects to receive them in cash.
The Fund incurs certain advisory fees and other expenses. These fees
and expenses may vary. The Fund is governed by its own Board of Trustees, and
Pioneer Independence Plans does not fix or specify the level of expenses of the
Fund. The Fund's fees and expenses, including the Fund's payment of Plan custody
charges, are described in detail in the Fund's Prospectus and in its Statement
of Additional Information.
The Fund has adopted a Plan of Distribution for shares of the Fund in
accordance with Rule 12b-1 under the Investment Company Act of 1940, as amended
(the "1940 Act"), pursuant to which certain distribution and service fees are
paid.
SUBSTITUTION OF THE UNDERLYING INVESTMENT
The Sponsor may substitute the shares of another investment medium as
the underlying investment for the shares of the Fund if it deems such action to
be in the best interests of Planholders. Such substituted shares generally shall
be comparable in character and quality to the present Fund shares, and shall be
registered with the Securities and Exchange Commission under the Securities Act
of 1933, as amended. Before any substitution can be effected, the Sponsor must:
1. To the extent required, obtain an order from the Securities and
Exchange Commission approving such substitution under the
provisions of Section 26(b) of the 1940 Act;
2. Submit written notice of the proposed substitution to the
Custodian;
18
3. Submit written notice of the proposed substitution to each
Planholder, giving a reasonable description of the substituted
fund shares, disclosing that unless the Plan is surrendered
within 30 days of the date of mailing such notice, the Planholder
will be considered to have consented to the substitution and to
have agreed to bear his or her pro rata share of expenses and
taxes in connection with the substitution; and
4. Provide the Custodian with a signed certificate stating that the
required notice has been given to Planholders.
If a Plan is not surrendered within 30 days from the date of such
notice, the Custodian shall purchase the shares of the substituted fund for the
Plan with the proceeds of any Plan investments received from the Planholder and
any dividends or distributions which may be reinvested for the Plan. If shares
of the substituted fund are also to be substituted for the Fund shares already
held, the Sponsor must arrange for the Custodian to be furnished, without
payment of a sales charge or fees of any kind, with shares of the substituted
fund having an aggregate value equal to the value of the Fund shares for which
they are to be exchanged. A substitution may be a taxable event for Planholders.
If the Fund shares are not available for purchase for a period of 120
days or longer, and the Sponsor fails to substitute other shares, the Custodian
may, but is not required to, select a substitute underlying investment or
terminate Pioneer Independence Plans. If the Custodian selects a substitute
investment, it shall, to the extent required, first obtain an order from the
Securities and Exchange Commission approving such substitution as specified
above and then shall notify the Planholder, and if, within 30 days after mailing
such notice, the Planholder gives written approval of the substitution and
agrees to bear his or her pro rata share of actual expenses, including tax
liability sustained by the Custodian, the Custodian may thereafter purchase such
substituted shares. The Planholder's failure to give such written approval
within the 30-day period shall give the Sponsor the authority to terminate the
Plan.
If shares of the Fund are not available for purchase for a period of
120 days or longer, and neither the Sponsor nor the Custodian substitutes other
shares, the Custodian shall have authority, without further action on its part,
to terminate the Plans.
The underlying investment could change under certain other
circumstances. For instance, the Fund could be reorganized with, or acquired by
or merge with another entity, which would result in a Plan investing in the
successor to any such transaction.
RETIREMENT PLANS
A Plan may be purchased by tax-sheltered retirement plans, including
IRAs and qualified pension and profit sharing plans. The Pioneer Individual
Retirement Plan (the "Pioneer IRA") is offered by the Sponsor. Pioneer IRAs may
be established through contributions to a Plan or through a lump sum investment
in a Plan from the proceeds of a rollover of prior year qualified assets or a
direct transfer of qualified assets from other fiduciary agencies. Such
rollovers or
19
transfers may contain either or both employer sponsored retirement assets and
owner contributions.
Detailed information concerning the Pioneer IRA is available from the
Sponsor. This information should be read carefully, and prospective investors
should consult with an attorney or tax adviser regarding the establishment of an
IRA in connection with a Plan. The information sets forth the additional service
fees charged for IRAs and describes the federal income tax consequences of
establishing an IRA. Under the Pioneer IRA, dividends and distributions will be
reinvested automatically in additional Fund shares for the Plan. As described in
"Service Charges and Other Fees," a maintenance fee is charged on Pioneer IRAs.
Premature termination of a Plan can have adverse financial consequences
and therefore prospective investors should consider carefully whether the IRA or
other qualified retirement plan will have the financial resources to honor a
15-year commitment to making monthly Plan investments.
THE SPONSOR
Pioneer Funds Distributor, Inc., 60 State Street, Boston, Massachusetts
02109-1820, is a Massachusetts corporation organized on March 2, 1989. It is a
broker-dealer registered under the Securities Exchange Act of 1934 and a member
of the National Association of Securities Dealers, Inc. (the "NASD"). The
Sponsor is a wholly owned subsidiary of Pioneering Management Corporation. The
Sponsor's directors and executive officers are listed below.
NAME, POSITIONS AND OFFICES
- ---------------------------
JOHN F. COGAN, JR., CHAIRMAN AND DIRECTOR
President, Chief Executive Officer and a Director of The Pioneer Group,
Inc. ("PGI"); Chairman and a Director of Pioneering Management Corporation
("PMC"); Director of Pioneering Services Corporation ("PSC"), Pioneer Capital
Corporation ("PCC"), Pioneer Real Estate Advisors, Inc., Pioneer Forest, Inc.,
Pioneer Explorer, Inc., Pioneer Management (Ireland) Ltd. ("PMIL") and Closed
Joint Stock Company "Forest-Starma"; President and Director of Pioneer Metals
and Technology, Inc. ("PMT"), Pioneer International Corp. ("PIntl"), Pioneer
First Russia, Inc. ("First Russia") and Pioneer Omega, Inc. ("Omega"); Chairman
of the Board and Director of Pioneer Goldfields Limited ("PGL") and Teberebie
Goldfields Limited; Chairman of the Supervisory Board of Pioneer Fonds
Marketing, GmbH ("Pioneer GmbH"), Pioneer First Polish Trust Fund Joint Stock
Company, S.A. ("PFPT") and Pioneer Czech Investment Company, A.S. ("Pioneer
Czech"); Chairman, President and Trustee of all of the Pioneer mutual funds;
Director of Pioneer Global Equity Fund Plc, Pioneer Global Bond Fund Plc,
Pioneer DM Cashfonds Plc, Pioneer European Equity Fund Plc, Pioneer Central and
Eastern Europe Fund Plc, and Pioneer U.S. Real Estate Fund Plc; and Partner,
Hale and Dorr LLP (counsel to PGI and the Fund).
ROBERT L. BUTLER, DIRECTOR AND PRESIDENT
Executive Vice President and a Director of PGI; Director of PMC, PMIL, PSC,
PIntl, Pioneer Czech, Pioneer Global Equity Fund Plc, Pioneer Global Bond Fund
Plc, Pioneer DM
20
Cashfonds Plc, Pioneer European Equity Fund Plc, Pioneer Central and
Eastern Europe Fund Plc, and Pioneer U.S. Real Estate Fund Plc; Vice Chairman of
Pioneer GmbH; and a Member of the Supervisory Board of PFPT.
DAVID D. TRIPPLE, DIRECTOR
Executive Vice President and a Director of PGI; President, Chief
Investment Officer and a Director of PMC; Director of PCC, PIntl, First Russia,
Omega and Pioneer SBIC Corporation ("Pioneer SBIC"), Pioneer Global Equity Fund
Plc, Pioneer Global Bond Fund Plc, Pioneer DM Cashfonds Plc, Pioneer European
Equity Fund Plc, Pioneer Central and Eastern Europe Fund Plc, and Pioneer U.S.
Real Estate Fund Plc; and Executive Vice President and Trustee of all of the
Pioneer mutual funds.
WILLIAM H. KEOUGH, TREASURER
Senior Vice President, Chief Financial Officer and Treasurer of PGI;
Treasurer of PMC, PSC, PCC, PIntl, PMT, PGL, First Russia, Omega and Pioneer
SBIC; and Treasurer of all of the Pioneer mutual funds.
JOSEPH P. BARRI, CLERK
Corporate Secretary of PGI and most of its subsidiaries; Secretary of all
of the Pioneer mutual funds; and Partner, Hale and Dorr LLP.
SENIOR VICE PRESIDENTS: Steven M. Graziano and Stephen W. Long.
VICE PRESIDENTS: Mary Kleeman, Barry G. Knight, William A. Misata, Anne W.
Patenaude, Gail A. Smyth, Constance D. Spiros and Marcy L. Supovitz.
Commissions ranging from 80% to 95% of the total Creation and Sales
Charges will be paid to authorized investment broker-dealer firms that are
members of the NASD and have executed a sales agreement with the Sponsor.
THE CUSTODIAN
[___________________________________], [___________________], [____],
[__________________], acts as Custodian for Pioneer Independence Plans pursuant
to a custodian agreement with the Sponsor, dated [__________], 199_ (the
"Custodian Agreement"). The Custodian is a [___________] organized under the
laws of [___________].
Investments under a Plan should be payable to Pioneer Independence
Plans and sent to the Custodian. After making authorized deductions, the
Custodian applies the remaining balance of the investment to the purchase of
Fund shares for a Plan. The Custodian holds these shares in its custody,
receiving dividends and distributions which are automatically reinvested in
additional Fund shares for the Plan accounts, unless a Planholder elects to
receive cash.
The duties of the Custodian under the Custodian Agreement include the
receipt of all investments from Planholders and income dividends and capital
gains distributions on Fund shares, the processing of all authorized deductions
therefrom and the purchase and retention of Fund shares for the Planholders'
accounts. The Custodian also effects partial or complete
21
liquidations of Plans in connection with withdrawals or terminations and
the various other functions discussed above.
The Custodian has assumed only those obligations specifically imposed
on it under the Custodian Agreement. The Custodian has no responsibility for the
choice of the underlying investment, for the investment policies and practices
of the Fund or for the acts or omissions of the Sponsor or the investment
manager of the Fund.
The Custodian Agreement cannot be amended to affect adversely the
rights and privileges of the Planholders without their written consent. Neither
may the Custodian resign unless an eligible successor has been designated and
has accepted the custodianship. Such successor must be a bank or trust company
having capital, surplus and undivided profits totaling at least $2,000,000. The
Custodian may be changed without notice to, or the approval of, the Planholders.
The Custodian may terminate its obligation to accept new Plans for custodianship
if the Sponsor fails to perform certain activities it is required to perform
under the Custodian Agreement or if the Custodian terminates the Custodian
Agreement upon 90 days' notice to the Sponsor.
PIONEER INDEPENDENCE PLANS
Pioneer Independence Plans is considered to be a unit investment trust
under the 1940 Act and is registered as such with the Securities and Exchange
Commission. Such registration does not imply supervision of management or
investment practices or policies by the Commission.
Pioneer Independence Plans is currently registered in all states except
______. Applications for such registration have been made by the Sponsor. The
Plans may be offered in all states where it is lawful to do so.
Periodic/S-6new12
22
The prospectus for the Fund contained in its registration statement on Form
N-1A, filed with the Securities and Exchange Commission on December 12, 1997
(Accession No. 0001051010-97-000012), is incorporated herein.
UNDERTAKING TO FILE REPORTS
Subject to the terms and conditions of Section 15(d) of the Securities
Exchange Act of 1934, as amended, the undersigned registrant undertakes to file
with the Securities and Exchange Commission such supplementary and periodic
information, documents and reports as may be prescribed by any rule or
regulation of the Commission heretofore or hereafter duly adopted pursuant to
authority conferred in that section.
CONTENTS OF REGISTRATION STATEMENT
This registration statement comprises the following papers and
documents:
The facing sheet
Reconciliation and tie of information in Prospectus with items of
Form N-8B-2
The Prospectus consisting of 24 pages
The prospectus for Pioneer Independence Fund (underlying security)
The undertaking to file reports
Signatures
Written consent of the following person: Arthur Andersen LLP (see
Exhibit 1(B))
The following exhibits:
EXHIBIT NO. DESCRIPTION
1. (A)(1) Form of Custodian Agreement between Pioneer Funds
Distributor, Inc. and [__________________________
______] (depositor and custodian, respectively)
1. (A)(2) Not applicable
1. (A)(3)(a) Form of Sponsorship Agreement for the Registrant*
1. (A)(3)(b) Form of Sales Agreement between Pioneer Funds
Distributor, Inc. and other broker-dealers*
1. (A)(3)(c) Schedules of sales commissions
1. (A)(4) Not applicable
1. (A)(5) Not applicable
1. (A)(6) Certificate of incorporation and by-laws of Pioneer
Funds Distributor, Inc.
1. (A)(7) Not applicable
1. (A)(8) Form of Underwriting Agreement between Pioneer Funds
Distributor, Inc. and Pioneer Independence Fund
1. (A)(9) Not applicable
EXHIBIT NO. DESCRIPTION
1. (A)(10) Form of investment application
1. (B) Written consent of Arthur Andersen LLP
2. Opinion of counsel as to the legality of the
securities being registered*
3. (1)(b) Not applicable
3. (1)(c) Financial Statements of Pioneer Funds Distributor,
Inc.:
Consolidated Balance Sheet at September 30, 1997
(unaudited)
Consolidated Statement of Income at September 30,
1997 (unaudited)
Consolidated Balance Sheet at December 31, 1996
Consolidated Statement of Income for the year ended
December 31, 1996
Consolidated Statement of Changes in Stockholder's
Equity for the year ended December 31, 1996
Consolidated Statement of Cash Flows for the year
ended December 31, 1996
Notes to Consolidated Financial Statements at
December 31, 1996
Report of Independent Public Accountants at
February 21, 1997
___________________________
*To be filed by amendment.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the sponsor
of the registrant has caused this registration statement to be signed on behalf
of the registrant thereto duly authorized in the City of Boston and the
Commonwealth of Massachusetts on the 12th day of December, 1997.
PIONEER INDEPENDENCE PLANS
(Name of Registrant)
By: PIONEER FUNDS DISTRIBUTOR, INC.
By: /s/ John F. Cogan, Jr.
John F. Cogan, Jr.
Chairman
Pursuant to the requirements of the Securities Act of 1933, the
registrant's sponsor has duly caused this registration statement to be signed on
the registrant's behalf by following persons in the capacities indicated on
December 12, 1997:
Signature Title
/s/ John F. Cogan, Jr. Chairman (Chief Executive )
John F. Cogan, Jr. Officer) and Director, Pioneer )
Funds Distributor, Inc. )
)
)
/s/ Robert L. Butler Director, Pioneer Funds )
Robert L. Butler Distributor, Inc. )
)
)
/s/ David D. Tripple Director, Pioneer Funds )
David D. Tripple Distributor, Inc. )
)
)
/s/ William H. Keough Treasurer (Principal Financial )
William H. Keough and Accounting Officer), )
Pioneer Funds Distributor, Inc. )