Is A Locked-In Pension Considered an Asset?

August 9th, 2010 by Questions

From a prior job, I received a pension amount that I am not allowed to touch until I turn 60. Is this considered an asset, even though I cannot access it to pay my debts?

Posted from: British Columbia


One Response to “Is A Locked-In Pension Considered an Asset?”

, A licensed trustee said:

It is an asset, but it is exempt from seizure under the Pensions Benfits law in BC. When you file for bankruptcy your trustee has the same right to access things like this as you do – since you can’t neither can your trustee.

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