FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

X/Twitter

This field is for validation purposes and should be left unchanged.

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

This field is hidden when viewing the form

Source

How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Select Trustee By Province

pension funds – surplus income

I understand that RRSP`s as long as they are not `locked in` are added to income for calculating surplus income. What if I am contributing to a company pension outside an RRSP. Can those funds be added to the surplus income?
Thanks

Posted from: Ontario

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “pension funds – surplus income”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

You may want to consider consulting with a local trustee as it sounds as if you have been given some incorrect information. For example, RRSP’s are an exempt asset that are protected (i.e. you keep) if you file for bankruptcy, with the exception of contributions made in the 12 months prior to the filing of the bankruptcy. Therefore they have nothing to do with your surplus income.

In a similar vien pensions are consider exempt and therefore protected as well. Although, the money you are contributing to the pension is considered income and does apply to the surplus calculation, but your pension is something you are entitled to keep.