Cameron Passmore CIM, FMA, FCSI

Portfolio Manager

Benjamin Felix MBA, CFA, CFP

Associate Portfolio Manager
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  • 1.800.230.5544
  • F613.237.5949
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  • Ottawa, Ontario K1S 2E1

Good news for self-employed retirement planning

July 9, 2008 - 0 comments

At long last, there was an important proclamation made yesterday that will protect RRSPs from creditors should you become bankrupt.

The federal government yesterday passed Bill C-12  into law, which allows bankrupt Canadians to keep their RRSPs, except for contributions made in the year before declaring bankruptcy. 

This has been a long time coming, and something I feel is important to many clients, especially those who are self-employed, or who do not have a pension plan.  This also allows investors to not be forced to use segregated funds in their RRSP, often at higher cost, simply to have creditor protection.

By: Cameron Passmore with 0 comments.
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