In response to the recent market declines and interruptions to businesses amid the COVID-19 pandemic, federal and provincial pension regulators have announced measures to provide relief to sponsors and administrators of registered pension plans and to protect member benefits, including relief from solvency funding requirements, extensions to required filings and disclosures, and measures to limit commuted value transfers.
Recent Updates -
July 17, 2020: Changes made to Quebec to reflect temporary relief measures provided pursuant to the provisions of Draft Regulation - Regulation respecting measures related to supplemental pension plans to reduce the consequence of the public health emergency declared on 13 March 2020 due to the COVID-19 pandemic.
July 2, 2020: Changes made to add COVID-19 related tax relief measures proposed by the Department of Finance Canada, with respect to Registered Pension Plans.
Please see full Table below for more information.