December 13th, 2009 by Questions

If I have 6,500 in a mutual fund type of RRSP personally and as a government employee, we are automatically enrolled in government pension and deferred savings plan, how are these accounts handled when we file for bankruptcy or make a consumer proposal?

Posted from: British Columbia


One Response to “cj”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

The government pension would be considered an exempt asset and be protected, therefore you would retain it despite the bankruptcy.

In most instances the RRSP is protected, with the exception of contributions made in the last 12 months prior to the filing of bankruptcy, fall within those same exemptions and therefore are also protected.

I would need more details about how the deferred savings plan has been set up to be able to determine how this would be impacted. To verify this you are best to contact a local trustee.

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