Canada: Two Nova Scotia Pension Developments: Financial Hardship Unlocking And PRPPs
There have been two developments in Nova Scotia pension law in recent weeks.
The first is an amendment of Part IV of the Pension Benefits Regulations, which deals with pre-retirement withdrawals from a pension fund in circumstances of financial hardship. The Regulations set out the circumstances of financial hardship. Previously, someone could apply for an early pension unlocking in a case of a mortgage default. The amendments to the Regulations now permit an application where […]