Do you lose your RRSPs when you declare bankruptcy?

Question

I am considering bankruptcy since stress can cause me a stroke and calls from collection agencies aren't stopping since my brain surgery. Would bankruptcy cause me to lose the little amount i have aside for my retirement, if I live that long? I live in New-Brunswick, Canada

Answer 1

It looks like that is considered an asset subject to forfeiture. There is no mention of it in the information website. However, check with a bankruptcy trustee. If the RRSPs fall into the definition of pensions in New Brunswick, they would be protected.
http://www.newbrunswickbankruptcy.com/
http://strategis.ic.gc.ca/epic/site/bsf-osb.nsf/en/home

Answer 2

I believe right now, it depends, among other things, on whether there is a life insurance component to the RRSP. Also, there is new legislation with respect to RRSP's and bankruptcy. Bill C-55. It has been passed, but not put into force yet.

Your best bet would be to ask a Trustee in Bankruptcy; their initial consultation is free.

http://www.canadian-bankruptcy.com/information.html
http://www.bankruptcy-halifax.com/rrsp-and-bankruptcy.htm