The Nova Scotia Government released regulations reassigning the authority for administering financial hardship unlocking in the province.

What’s changed?

Effective July 1, 2021:

  • Plan members who want to unlock their locked pension funds need to apply directly with their financial institution.
  • Sun Life has the power to approve or deny unlocking applications.
  • Members no longer apply for financial hardship with Nova Scotia Treasury Board.

What products are eligible for financial hardship unlocking?

  • Locked-In Retirement Account (LIRA)
  • Life Income Fund (LIF)

Are there any actions required?

We encourage you to:

To help members in completing Financial Hardship applications Nova Scotia has provided a Form 12 Guide.


Please contact your Sun Life Group Retirement Services representative.