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| Author: |
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Confused Individual |
| Date: |
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September 8, 2003 |
| Question: |
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If I declare bankruptcy, do I lose my RRSP's I have with the bank or with a mutual fund company? I work for the provincial government ... will I lose my government pension?
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From: |
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Ann Clarke, Alger & Associates Inc. |
| Date: |
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September 8, 2003 |
| Answer: |
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Pensions are not affected by bankruptcy. Certain RRSPs are collapsible in bankruptcy if they aren't protected by pension or insurance legislation. Most mutual funds are also collapsible in bankruptcy. The Trustee will confirm whether your RRSPs will be taken when you meet to discuss your situation.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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