A reefing assembly for a circular parachute having a canopy including a skirt portion, and suspension lines attached to the skirt portion. The assembly includes a tension structure bounding a central opening and having a plurality of straight segments. A plurality of cords, each cord having two ends, are each fixed to one end of one of the tension structure straight segments to define a loop, and a plurality of rings slidably disposed on each of the loops. Each of the rings is slidably connected to at least one of the suspension lines. The rings are clustered together at a central portion of their respective loops, and upon deployment of the canopy, slide along their respective loops to become substantially equidistantly disposed on their respective loops. The assembly facilitates a restrained opening of the canopy and thereby reduces opening shock load.