Pension half way through a Proposal?
November 2nd, 2012 by Questions
If I qualify for filing a CP and I do it now…in two years when I have to officially retire, will my employment pension be in jeopardy as my repayment course will occur for two years now and beyond my retirement for 3 years. I will be forced to retire in the middle of my term. Can my pension be taken to pay off debts or trustee fees since it is now available for me to use. That is all I will have to live on.
Posted from: British Columbia
One Response to “Pension half way through a Proposal?”
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November 02, 2012 at 8:16 am, A licensed trustee said:
No one can seize your pensions, regardless of whether you have filed or not so you don’t need to worry about this. You should be careful not ot agree to a proposal payment that you may have difficulty making once you retire. Be careful when you set your payment terms and keep in mind that your payment doesn’t have to stay the same for all 5 years. You can make higher payments while you are working and lower ones once you retire. If this wasn’t explained to you go back and speak to your trustee again.