People with locked-in pension accounts may soon be able to access their retirement income early for COVID-19 financial relief if the provincial government amends the Pensions Benefits Act. "If you've got a rush on cashing out pensions, it could affect the liquidity of a pension plan. Available in other provincesLarry Short, CPA and senior financial advisor with Short Financial, said the provincial government's idea is good, and some other provinces allow it. However, Short said some people could find themselves in a worse financial situation later by drawing from their pension now. Larry Short, CPA and senior financial advisor with Short Financial, says the provincial government's idea is a good one, but it could leave some people worse off.

Source: CBC News July 29, 2020 21:22 UTC