O’Driscoll Looking Forward to Results

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O’Driscoll Looking Forward to Results of Locked-in Pension Consultations
PC Opposition Service NL Critic and MHA for Ferryland, Loyola O’Driscoll, says while he is looking forward to the results from the consultations on locked-in pensions, the length of time before legislation could be passed is concerning.
Thursday, July 30, 2020

Office of the Official Opposition
For Immediate Release

 

St. John's, NL (July 30, 2020) – – PC Opposition Service NL Critic and MHA for Ferryland, Loyola O’Driscoll, says while he is looking forward to the results from the consultations on locked-in pensions, the length of time before legislation could be passed is concerning.

“My colleagues and I with the Official Opposition have heard from many Newfoundlanders and Labradorians across our province that are facing financial hardship and wish to access their locked-in pensions. Any changes to legislation presents risks and needs to be carefully considered, which is why we are looking forward to an analysis from the Department of Service NL and feedback from public consultations. Many provinces already allow this, but it is not permitted in our province,” says O’Driscoll.

O’Driscoll added, “I am concerned however that consultations won’t be completed until the end of September. By the time results are compiled, and potential legislative changes are made, we could be well into 2021.”

 

Contacts:

Bradley Russell

Director of Policy and Research

(p) 1.709.729.3668

BradleyRussell@gov.nl.ca

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