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Nova Scotia Bill 419, Financial Measures (2024) Act receives Royal Assent

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May 08, 2024

Nova Scotia Bill 419, Financial Measures (2024) Act (the “Act”), received Royal Assent on April 5, 2024.

The Act amends the Nova Scotia Pension Benefits Act to allow retired individuals to access their pension early if they have a mental or physical disability that is expected to significantly reduce their lifespan. Current and former members already have this ability under the Nova Scotia Pension Benefits Act.

The Act also amends the Nova Scotia Pension Benefits Act to allow a pension plan to permit a former member of the plan to withdraw  the commuted value of their pension benefit from the plan when they have ceased to be a resident of Canada for at least two years.

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