Quick Escape

Registered Retirement Savings Plan (RRSP)

Some people save for retirement through personal retirement savings plans, such as RRSPs. RRSPs are considered to be family assets and would be included in an accounting and equalization of assets. On November 1, 2007, a new law came into effect in Manitoba: The Registered Retirement Savings Protection Act.

This law states that while money remains in a registered plan, such as an RRSP, it is generally exempt from any enforcement process. It cannot be garnished or seized to satisfy debts of the RRSP holder. However, there are some important exceptions. The Act does not prevent enforcement against RRSPs to satisfy a Family Property Act judgment or enforcement of a support obligation by the director of the Maintenance Enforcement Program.