This Act protects a planholder’s rights, property, and interests in a registered plan from enforcement processes, with specific exceptions.
The Registered Retirement Savings Protection Act, C.C.S.M. c. R116 (Assented to December 7, 2006) bilingual version (HTML) Table of Contents Section 1 Definitions 2 Application 3 Exemption from enforcement process 4 Payment out of registered plan 5 Conflict with other Acts 6 C.C.S.M. reference 7 Coming into force HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows: Definitions 1 The following definitions apply in this Act. "enforcement process" means (a) garnishment, execution, seizure or attachment; or (b) any other remedy or legal process to enforce payment of an amount payable by a planholder. (« procédure d'exécution ») " planholder ", in relation to a registered plan, means (a) in the case of a deferred profit sharing plan, a beneficiary under the plan and a spouse or common-law partner, as defined in subsection 248(1) of the Income Tax Act (Canada), who receives amounts payable on the beneficiary's death; (b) in the case of a registered retirement income fund, an annuitant as defined in subsection 146.3(1) of the Income Tax Act (Canada); or (c) in the case of a registered retirement savings plan, an annuitant as defined in subsection 146(1) of the Income Tax Act (Canada). (« titulaire ») "registered plan" means (a) a deferred profit sharing plan, as defined in subsection 147(1) of the Income Tax Act (Canada); (b) a registered retirement income fund, as defined in subsection 146.3(1) of the Income Tax Act (Canada); or (c) a registered retirement savings plan, as defined in subsection 146(1) of the Income Tax Act (Canada). (« régime enregistré ») Application 2 This Act applies to every registered plan, whether it is registered before or after this Act comes into force, except a plan to which subsection 31(1) (protection of pension money) of The Pension Benefits Act applies. Exemption from enforcement process 3(1) Subject to subsection (2), all rights, property and interests of a planholder in a registered plan are exempt from any enforcement process. Exceptions 3(2) Subsection (1) of this section and subsections 168(1) and 173(2) of The Insurance Act do not apply to an enforcement process (a) to satisfy an order made under The Family Property Act or under similar legislation of any other province or territory of Canada; or (b) taken by the director under The Family Support Enforcement Act ; in respect of a registered plan. S.M. 2022, c. 15, Sch. B, s. 102 . Payment out of registered plan 4(1) A payment out of a registered plan is not exempt from any enforcement process. Transfer not a payment 4(2) For the purposes of subsection (1), a transfer from one registered plan of a planholder directly to another registered plan of the planholder is not a payment out of a registered plan. This Act prevails 5(1) If a provision of this Act conflicts with a provision of another Act, this Act prevails unless the other Act expressly provides that it or the provision prevails despite this Act. Operation of Fraudulent Conveyances Act 5(2) Despite subsection (1), nothing in this Act affects the operation of The Fraudulent Conveyances Act . C.C.S.M. reference 6 This Act may be referred to as chapter R116 of the Continuing Consolidation of the Statutes of Manitoba . Coming into force 7 This Act comes into force on a day to be fixed by proclamation. NOTE: S.M. 2006, c. 29 was proclaimed in force November 1, 2007.