The provincial government has introduced new measures so those facing financial hardship will be able to withdraw some of their funds from a locked-in retirement account, under certain circumstances. Justice Minister Gord Wyant says, “Unforeseen circumstances can occur, and this change will allow flexibility for people with funds in a locked-in retirement account. Applications to the financial institution which issued the retirement account can be made when the regulations come into force as of March 18th. The circumstances where this would apply include low expected income, medical expenses, threat of eviction or foreclosure, or funds required to secure a new principal rental home.

Click here for more information:  Bulletin_-_Unlocking_Pension_Money_2021_-_updated_November_2021