Confused Now
This is a follow up to my question earlier today regarding BC Safer and whether it would be exempt from seizure. I did email a trustee in my area as well and here is her reply: “I do not know of any reason why either your CPP or BC Safer income would be considered as exempt from seizure. If you would like to discuss further please feel free to give me a call at xxx-xxx-xxxx as you have time.” Is she correct in saying that even CPP is NOT exempt for any reason? Your advice to seniors with no other income is to avoid filing for bankruptcy but is there any chance that unsecured creditors can seize CPP? If they can then we should be made aware of that just in case. If she is wrong, I would appreciate knowing that too. Thank you.
Posted from: British Columbia
“The Old Age Security Act and the Canada Pension Plan Act provide that Old Age Security (OAS) and Canada Pension Plan (CPP) benefits shall not be assigned, charged, attached, anticipated or given as security, and any transaction claiming to do so is void.
In practical terms, this means that if you are successfully sued, OAS or CPP benefits cannot be taken from you to pay the court order.”
Presumably, you didn’t speak to a trustee, likely it was a staff member unfamiliar with the law. At least I hope that’s what happened as this is pretty basic stuff…