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Monday, February 08, 2016
Saskatchewan Justice

The Registered Plan (Retirement Income) Exemption Act extends the existing exemption from exigibility of registered pension plans to registered retirement savings plans (RRSPs) and deferred profit sharing plans (DPSPs). The exemption from exigibility will be applied to a registered retirement income fund (RRIF) based on these exempt funds.

Any payments out of an exempt RRSP, DPSP or RRIF will be subject to enforcement procedures. As with pensions, the only exception to the protection from enforcement will be with respect to enforcement measures taken under The Enforcement of Maintenance Orders Act, 1997. Enforcement by creditors against payments out of a plan are subject to the exemptions under section 22 of The Attachment of Debts Act.

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