Today is the first day people can apply to withdraw money from previously locked-in pensions.
Legislation to allow some to be unlocked was eventually passed during a special session of the House of Assembly in December.
The move was in response to the pandemic and the desperate need for many to access cash now.
The new rules apply to Locked-In Retirement Accounts (LIRAs), Life Income Funds (LIFs), and Locked-in Retirement Income Funds (LRIFs).
People must meet certain criteria to qualify for relief from financial hardship, including salary thresholds as well as mortgage or rent arrears.
More information can be obtained through the Department of Digital Government and Service NL.