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pension and locked in rrsp

what hapens to pensions in a bankruptcy?

One Response to “pension and locked in rrsp”

A licensed trustee said...

Normally nothing – that is, pensions are not seized by your trustee to pay off your debts.

Pension income (the money you receive every month) is subject to the Surplus Income Rules and makes up part of the total income received by your household. If your household income exceeds the income standards you will have to make additional payments to your trustee.

If you are at the point that you are researching your options on the net it is probably time to talk to someone directly about your situation. Try using the links on the side of the page to find a trustee in your area that may help you sort things out.