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Teachers Pension

I’m a teacher at a public school in BC. If I declare personal bankruptcy, will I lose my pension? Thank you

Posted from: British Columbia

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One Response to “Teachers Pension”

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

Pensions are an asset type that are protected, or considered exempt when you file for bankruptcy. So you don’t lose the pension. However, if you are receiving the pension each month and using it to live on, the monthly amount you receive is considered income and used to determine the cost and length of a bankruptcy.