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ARTICLE · 01 MAY 2020

Pension Plan Regulatory Relief And COVID-19 – Additional Measures Announced

Miller Thomson
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In our most recent posts, we highlighted some of the regulatory relief available to administrators of Ontario registered pension plans and plans registered in jurisdictions other than Ontario as a result of COVID-19.

CanadaEmployment and HR
Kim Ozubko
Kim Ozubko
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In our most recent posts, we highlighted some of the regulatory relief available to administrators of Ontario registered pension plans and plans registered in jurisdictions other than Ontario as a result of COVID-19. In this post, we highlight additional relief measures that have been announced for administrators and sponsors of registered pension plans, including the announcement of significant funding relief for sponsors of federally regulated defined benefit registered pension plans.

Federal

On April 15, 2020, the federal government announced that it will be providing immediate temporary relief to sponsors of federally regulated defined benefit registered pension plans in the form of a moratorium on solvency payments under such plans through the remainder of 2020. Recognizing the potential impact that the COVID-19 crisis could have on defined benefit plan assets and liabilities and solvency funding obligations under such plans in 2021, the federal government also

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