Acts and Regulations

P-5.1 - Pension Benefits Act

Full text
Exemption from execution, seizure or attachment
57(1)Except as otherwise provided in this Act, a transaction that purports to assign, charge, anticipate or give as security any interest in or under a pension plan or any money payable under a pension plan is void.
57(2)Except as otherwise provided by this Act, a transaction that purports to assign, charge, anticipate or give as security any interest in or under a retirement savings arrangement or a deferred life annuity referred to in section 36 or any money payable under such an arrangement or annuity is void.
57(3)Except as otherwise provided in this Act, any interest in or under a pension plan and any money payable under a pension plan are exempt from execution, seizure or other process of law.
57(4)Except as otherwise provided by this Act, money paid out of a pension fund to another pension plan, to a retirement savings arrangement or for the purchase of a deferred life annuity under section 36 is exempt from execution, seizure or other process of law.
57(5)Except as otherwise provided in this Act, any interest in or under a retirement savings arrangement or a deferred life annuity referred to in section 36 and any money payable under any such retirement savings arrangement or deferred life annuity are exempt from execution, seizure or other process of law.
57(6)Money payable under a pension plan, including a refund of contributions with interest, and money payable under a retirement savings arrangement or a deferred life annuity referred to in section 36 are subject to execution, seizure or other process of law in satisfaction of a support order or an order for maintenance enforceable in the Province, whether made before or after the commencement of this section, but, other than in the case of a refund of contributions with interest, to a maximum of fifty per cent of the payment unless otherwise ordered by a court of competent jurisdiction.
57(7)Except as otherwise provided by this Act, a transaction that purports to commute or surrender a pension or a pension benefit, or a retirement savings arrangement or a deferred life annuity referred to in section 36, is void.
2013, c.32, s.29; 2020, c.24, s.15
Exemption from execution, seizure or attachment
57(1)Except as otherwise provided in this Act, a transaction that purports to assign, charge, anticipate or give as security any interest in or under a pension plan or any money payable under a pension plan is void.
57(2)Except as otherwise provided by this Act, a transaction that purports to assign, charge, anticipate or give as security any interest in or under a retirement savings arrangement or a deferred life annuity referred to in section 36 or any money payable under such an arrangement or annuity is void.
57(3)Except as otherwise provided in this Act, any interest in or under a pension plan and any money payable under a pension plan are exempt from execution, seizure or other process of law.
57(4)Except as otherwise provided by this Act, money paid out of a pension fund to another pension plan, to a retirement savings arrangement or for the purchase of a deferred life annuity under section 36 is exempt from execution, seizure or other process of law.
57(5)Except as otherwise provided in this Act, any interest in or under a retirement savings arrangement or a deferred life annuity referred to in section 36 and any money payable under any such retirement savings arrangement or deferred life annuity are exempt from execution, seizure or other process of law.
57(6)Money payable under a pension plan, including a refund of contributions with interest, and money payable under a retirement savings arrangement or a deferred life annuity referred to in section 36 are subject to execution, seizure or other process of law in satisfaction of an order for support or maintenance enforceable in the Province, whether made before or after the commencement of this section, but, other than in the case of a refund of contributions with interest, to a maximum of fifty per cent of the payment unless otherwise ordered by a court of competent jurisdiction.
57(7)Except as otherwise provided by this Act, a transaction that purports to commute or surrender a pension or a pension benefit, or a retirement savings arrangement or a deferred life annuity referred to in section 36, is void.
2013, c.32, s.29
Exemption from execution, seizure or attachment
57(1)Except as otherwise provided in this Act, a transaction that purports to assign, charge, anticipate or give as security any interest in or under a pension plan or any money payable under a pension plan is void.
57(2)Except as otherwise provided by this Act, a transaction that purports to assign, charge, anticipate or give as security any interest in or under a retirement savings arrangement or a deferred life annuity referred to in section 36 or any money payable under such an arrangement or annuity is void.
57(3)Except as otherwise provided in this Act, any interest in or under a pension plan and any money payable under a pension plan are exempt from execution, seizure or attachment or other process of law.
57(4)Except as otherwise provided by this Act, money paid out of a pension fund to another pension plan, to a retirement savings arrangement or for the purchase of a deferred life annuity under section 36 is exempt from execution, seizure or attachment or other process of law.
57(5)Except as otherwise provided in this Act, any interest in or under a retirement savings arrangement or a deferred life annuity referred to in section 36 and any money payable under any such retirement savings arrangement or deferred life annuity are exempt from execution, seizure or attachment or other process of law.
57(6)Money payable under a pension plan, including a refund of contributions with interest, and money payable under a retirement savings arrangement or a deferred life annuity referred to in section 36 are subject to execution, seizure or attachment or other process of law in satisfaction of an order for support or maintenance enforceable in the Province, whether made before or after the commencement of this section, but, other than in the case of a refund of contributions with interest, to a maximum of fifty per cent of the payment unless otherwise ordered by a court of competent jurisdiction.
57(7)Except as otherwise provided by this Act, a transaction that purports to commute or surrender a pension or a pension benefit, or a retirement savings arrangement or a deferred life annuity referred to in section 36, is void.