Bill 96 explained in plain English
Registered Retirement Savings Protection Act, 2010
Ontario legislature bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Legislative Assembly of Ontario snapshot for 39th Parliament, 2nd Session. Representative vote breakdowns appear when the Assembly publishes an Ayes and Nays page for the bill.
Our plain-language take, written for civic education.
Source: By PoliticalData.ca
This Ontario bill generally protects registered retirement savings, retirement income funds, and deferred profit sharing plans from creditors, with exceptions for family support and property division orders, and excluding withdrawals from protection.
This Ontario bill, the Registered Retirement Savings Protection Act, 2008, states that registered retirement savings plans, registered retirement income funds, and deferred profit sharing plans are protected from most creditors. This means creditors generally cannot seize money or assets in these plans to pay off debts. However, this protection does not apply to enforcement processes related to family law support orders or property division in family matters. Also, any money withdrawn from these plans is not protected from creditors. The bill also clarifies that transferring funds directly between a person's own registered plans is not considered a withdrawal and therefore remains protected. If this Act conflicts with another Act, this Act generally takes precedence, unless the other Act specifically states otherwise. An exception is made for the Fraudulent Conveyances Act, which remains unaffected. The Act came into force on the day it received Royal Assent.
- Protects registered retirement savings plans, registered retirement income funds, and deferred profit sharing plans from most creditor enforcement processes.
- Specifies that this protection does not apply to enforcement processes related to support orders under the Family Law Act or the Family Responsibility and Support Arrears Enforcement Act, 1996.
- Clarifies that money withdrawn from these registered plans is not exempt from enforcement processes.
- States that transferring funds directly between a planholder's registered plans is not considered a withdrawal and remains protected.
- Establishes that this Act prevails over conflicting provisions in other Acts, unless the other Act expressly states otherwise.
- Ensures that the Fraudulent Conveyances Act is not affected by this Act.
- States that the Act comes into force on the day it receives Royal Assent.
- Holders of registered retirement savings plans
- Holders of registered retirement income funds
- Holders of deferred profit sharing plans
- Creditors
- The Director of the Family Responsibility Office
- Individuals subject to family law support orders
- Individuals involved in property division in family matters
- Registered plans are generally exempt from creditor enforcement processes.
- Withdrawals from registered plans are not exempt from creditor enforcement processes.
- Transfers between a planholder's own registered plans are not considered withdrawals and remain protected.
- The Act comes into force on the day it receives Royal Assent.
- Money withdrawn from registered plans can be subject to enforcement processes.
- Enforcement processes under the Family Law Act and the Family Responsibility and Support Arrears Enforcement Act, 1996 are exceptions to the protection.
- The bill does not specify what constitutes a 'registered plan' beyond referring to the definitions in the Income Tax Act (Canada).
- The bill does not provide a specific date for Royal Assent, only that it comes into force on that day.
- The definition of 'planholder' varies depending on the type of registered plan.
Certain sections (191(1) and 196(1)) of the Insurance Act, which might otherwise apply to enforcement processes, are made not applicable to enforcement processes related to family law support orders or property division, or by the Director of the Family Responsibility Office.
Source: Section 3(2)
Enforcement processes to satisfy an order made under the Family Law Act are an exception to the protection provided by this bill for registered plans.
Source: Section 3(2)(a)
Enforcement processes initiated by the Director of the Family Responsibility Office under this Act in relation to a registered plan are an exception to the protection provided by this bill.
Source: Section 3(2)(b)
This bill does not affect the operation of the Fraudulent Conveyances Act.
Source: Section 5(2)
Registered plans to which subsections 66 (1), (2) and (3) of the Pension Benefits Act apply are excluded from the application of this Act.
Source: Section 2
Generated using AI from official bill text. Not legal advice. It is written by PoliticalData.ca for civic education, automatically checked and spot-reviewed before publishing.
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Vote Summary
This bill is still active. We only show vote counts after the legislature publishes a recorded division.
No published representative vote breakdown
This bill is still moving through the process. When a recorded division is published, representative positions can be listed here.
Official sources
Status, sponsor, votes, and timeline on this page are drawn from these official legislative sources and public records. Each summary above is attributed to its own source.
How this data is sourced