QUESTION:
I have a locked in Pension from a former employer (located in Manitoba),we
now reside in BC and the fund is with the TD bank here. We are experiencing
financial hardships and are in danger of losing our rental home, as well as
the day to day living expenses. We are looking at having to declare
bankruptcy is there any way to unlock some of the funds?
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david ingram replies:
If you were in Ontario, they have a method of withdrawing a locked in
pension if you are in a genuine hardship position,
However, I do not know if the same situation applies in BC (if it does I
have not seen it done). However, Fred Snyder CFP hosts a radio program on
Sunday Mornings at 9:00 AM on CKBD 600 on the AM dial. I will be his guest
this next Sunday and if you do not have an answer or i do not have an answer
by then, call the show at 280-0600
Or you could call him before hand at his office at (604) 731-8900.
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Answers to this and other similar questions can be obtained free on Air by
david ingram on the last Sunday of each month.
On the last Sunday at 9:00 AM on 600AM in Vancouver, I, david ingram will be
a guest on Fred Snyder of Dundee Wealth Managers' LIVE talk show called "ITS
YOUR MONEY"
Those outside of the Lower Mainland will be able to listen on the internet
at
www.600AM.com <http://www.600am.com/>
Call (604) 280-0600 to have your question answered. BC listeners can also
call 1-866-778-0600.
Callers to the show and questioners on this board can also attend the
Thursday Night seminars on finance and making your Canadian Mortgage
Interest deductible.
I will be at the seminar following the last Sunday of the month.
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Every Thursday Evening, Fred Snyder of Dundee Wealth Management conducts
one of 17 different financial seminars in the boardroom of his office
Time: 7:00 to 9:30 PM
Date: Every Thursday evening
Place 1764 West Seventh
Vancouver (corner of Burrard)
Phone (604) 731-8900 to register
No cost - no obligation
Topics always cover mortgage interest as a deduction
other topics - getting the mortgage, estate planning, critical care
insurance, income taxation, differences between stocks and bonds, and
usually the most innovative HELOC mortgage offered in Canada from Manulife
Bank
If you are starting in downtown Vancouver and do not want to go home first,
one of the excellent THAI HOUSE restaurants is in the same building and
makes a nice start to the evening. If it is your first seminar, Fred will
buy you dinner if you are pre-registered.
I, david ingram, will be at the Thursday evening following the last Sunday
of each month to cover mortgage interest as a deduction and give the class
an adding test.
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David Ingram's US / Canada Services
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Cell (604) 657-8451 -
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Calls welcomed from 10 AM to 10 PM 7 days a week Vancouver (LA) time -
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email to taxman at centa.com <mailto:taxman at centa.com>
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<http://www.david-ingram.com/>
Disclaimer: This question has been answered without detailed information or
consultation and is to be regarded only as general comment. Nothing in
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