Pension Regulatory Guidance and Measures Related to COVID-19 Pandemic (Updated) - October 2020

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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 -

October 7, 2020: Changes made to Saskatchewan to reflect the modifications made to the freeze on transfers or payments out of defined benefit plans.

Please see full Update below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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