If your client leaves an employer that offered a defined-benefit pension plan, the client may have options for handling the assets in that plan. Some rules vary from province to province
Former plan members gain greater access to locked-in retirement accounts
People facing financial hardship gain greater flexibility to withdraw from locked-in pensions
Financial hardship unlocking process simplified
Fraudsters promise that funds can be withdrawn on a tax-free basis
Changes include one-time opportunities to withdraw or transfer amounts
Comments due Feb. 13, 2009
Superintendent of Pensions investigating
Owners of existing LIFs no longer required to purchase an annuity by the end of the year in which they reach 80