Office of the Official Opposition
For Immediate Release

St. John’s, NL (July 22, 2020) – PC Opposition Service NL Critic, and MHA for Ferryland, is asking
on behalf of many Newfoundlanders and Labradorians, for an update on promised public consultations regarding locked-in pensions.

“MHAs within the Official Opposition have heard from many individuals who are facing financial hardship because of the economic downturn. They have money accumulated within their
locked-in pension plans but cannot access this savings to help alleviate their current financial situation. Many provinces allow this but it is not permitted in this province,” said O’Driscoll.

“I raised this issue in the House of Assembly on June 16th and the Minister, at that time, promised to undertake consultations in the following week or two. It has now been five weeks
and public consultations have not yet been announced. I am calling upon Minister Osborne to follow through on his commitment to carry out public consultations regarding locked-in
pensions,” said O’Driscoll.

Contacts:

Bradley Russell

Director of Policy and Research

(p) 1.709.729.3668

BradleyRussell@gov.nl.ca

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