Alberta Releases COVID-19 Relief Measures for Registered Pension Plans
In response to the recent market decline amid the COVID-19 outbreak, Alberta’s Superintendent of Pensions announced a number of relief measures for pension plans registered in Alberta, including immediate administrative relief to all pension plans registered under the EPPA. These measures include:
- Extending the deadline by 180 days for annual information returns, audited financial statements, and actuarial valuation reports and cost certificates filed with the Superintendent’s Office and due between March 31 and prior to July 1, 2020.
- Extending the timelines by 180 days for pension plan administrators to issue annual statements to active or retired members and event driven member disclosure statements due between March 31 and prior to July 1, 2020.
- Extending the deadline by 90 days to issue a plan summary (section 30 of the EPPR) or member-driven event disclosure statements (e.g., termination, death, relationship breakdown, or retirement) due between March 31 and prior to July 1, 2020.