Halifax woman calling for more protections on RRSPs after husband s sudden death
Dianne Taylor is urging others to check their listed beneficiaries routinely for things like RRSPs and life insurance policies after her husband s sudden death left her and her teenage daughter faced with losing the bulk of their family s savings.
Social Sharing There s definitely a gap in law, something like this should never be able to happen, Diane Taylor says
Posted: May 10, 2021 6:00 AM AT | Last Updated: May 10
Dianne Taylor holds a photo of her with her late husband, Tim Taylor, and their daughter. Tim died suddenly of cancer in August 2018.(Dave Laughlin/CBC)
Financial Measures (2021) Act Introduced
April 8, 2021 - 11:15 AM
Finance and Treasury Board Minister Labi Kousoulis introduced the Financial Measures (2021) Act today, April 8, which will amend several pieces of legislation with financial implications.
“The changes we are proposing in this act will help bring consistency and clarity across our financial legislation and with the federal government,” said Mr. Kousoulis. “We are also transferring oversight for a number of activities to the Department of Environment and Climate Change.”
The proposed act will:
amend the Equity Tax Credit Act to extend the credit to community economic development corporations for 10 years, and provide for a review during that time
Amendments Streamline Process for Unlocking Retirement Funds
Nova Scotians want to have financial peace of mind when facing challenging circumstances.
That is why government introduced amendments to the Pension Benefits Act today, April 6, that will make it quicker for Nova Scotians who need it to access locked-in retirement accounts or life income funds.
“The changes I am introducing today and the regulations that will follow will mean Nova Scotians experiencing financial hardship can work directly with their financial institutions to access these funds,” said Finance and Treasury Board Minister Labi Kousoulis. “This will save significant application processing time for Nova Scotians in need, as they will no longer need prior approval from the superintendent of pensions.”