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Locked-In RRSPS

I have rrsps I cannot access because they are locked-In. Is there anyway Licensed Insolvency Trustees can access this money to pay creditors in lieu of going bankrupt in NS

One Response to “Locked-In RRSPS”

Barton Goth GCO Bankruptcy Trustees said...

The only way this can be done is if you file a proposal that specifically vests the RRSP’s in the trustee to be used for the general benefit of your creditors.

This may not work depending on why the funds have been locked in, but this is an issue you will have to discuss with a local trustee as they will most likely have to review your RRSP statements and other documentation to be able to provide the necessary direction.