Question: I have a government job and over 25 years service and would be eligible for a pension in a few short years. In a bankruptcy is a pension an asset that is taken even before you qualify to get the pension?
thanks for your guidance
Answer: No, if you file bankruptcy in Ontario you do not lose your pension. You are not eligible to receive your pension until you retire, and even then you are only able to receive a fixed payment each month, not the entire amount, which is why it is not seized in a bankruptcy.
There are other factors to consider, so feel free to contact an Ontario bankruptcy trustee to arrange for a free initial consultation.