As the Canadian economy has come to a near standstill, public equity markets have declined sharply and interest rates have dropped. This has caused sudden unanticipated and significant financial hardships for defined benefit (DB) and defined contribution (DC) registered pension plans, along with other common types of employer-sponsored retirement savings plans in Canada.
In this time of rapidly changing circumstances, neither the Human Rights Tribunal nor the courts have had time to weigh in on whether COVID-19 amounts to a disability. However, in my view as BC’s Human Rights Commissioner, it does.
The Alberta Government has released a Ministerial Order temporarily amending employment standards legislation to deal with the practical implications arising from COVID-19.