PIONEER INDEPENDENCE FUND
N-18F1, 1998-02-18
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                                                           File No. 333-42105
                                                                    811-08547


                                  FORM N-18F-1

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549




            NOTIFICATION OF ELECTION PURSUANT TO RULE 18f-1 UNDER THE
                         INVESTMENT COMPANY ACT OF 1940



                            PIONEER INDEPENDENCE FUND
                           (Exact Name of Registrant)



<PAGE>



                            NOTIFICATION OF ELECTION


         The undersigned open-end registered  investment company hereby notifies
the  Securities and Exchange  Commission  (the  "Commission")  that it elects to
commit itself to pay in cash all  redemptions  by any one  shareholder of record
during any 90-day period up to the lesser of (i)  $250,000,  or (ii) one percent
of the net asset  value of the  company  at the  beginning  of such  period,  as
provided by Rule 18f-1 under the Investment Company Act of 1940, as amended.  It
is  understood  that this election is  irrevocable  while such Rule is in effect
unless the Commission by order upon  application  permits the withdrawal of this
Notification of Election.


                                    SIGNATURE

         Pursuant to the requirements of Rule 18f-1 under the Investment Company
Act of 1940, the Registrant has caused this  Notification of Election to be duly
executed  on  its  behalf  in  the  City  of  Boston  and  The  Commonwealth  of
Massachusetts on the   th day of December, 1997.



                                         PIONEER INDEPENDENCE FUND



                                         By: /s/ John F. Cogan, Jr.
                                            -----------------------
                                             John F. Cogan, Jr.
                                             President



Attest: /s/ Joseph P. Barri
        --------------------
        Joseph P. Barri
        Secretary



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