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ARTICLE · 01 JUNE 2021

Extended Relief For Registered Pension Plans And Deferred Salary Leave Plans

Blake, Cassels & Graydon LLP
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On May 20, 2021, the Department of Finance Canada announced a one-year extension of draft regulations, initially released on July 2, 2020 (2020 Draft Regulations)...

CanadaEmployment and HR
Blakes Pensions, Benefits & Executive Compensation
Blakes Pensions, Benefits & Executive Compensation
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On May 20, 2021, the Department of Finance Canada  announced a one-year extension of draft regulations, initially released on July 2, 2020 (2020 Draft Regulations), that are intended to assist sponsors of registered pension plans (RPPs) and deferred salary leave plans (DSLPs) to manage and maintain benefits for their employees through COVID-19. 

The one-year extension announced by the Department of Finance Canada was introduced by way of proposed amendments to the  Income Tax Regulations (2021 Draft Regulations), also released on May 20, 2021. For further information on the earlier 2020 Draft Regulations, please see our July 2020  Blakes Bulletin: Draft Pension and Deferred Salary Leave Tax Regulations Released.

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