REGINA - Debt collectors will be barred from touching RRSPs and other retirement funds of self-employed individuals under new legislation introduced by the provincial government. This gives self-employed workers equal rights with employees contributing to company pension plans.

"It's a matter of simple fairness for small business owners, farmers, professionals and other entrepreneurs," said Justice Minister Chris Axworthy, in introducing the new legislation.

Registered retirement income funds (RRIFs) and deferred profit sharing plans will also be protected under the Registered Plan Exemption Act. Only funds kept in the retirement plan will be exempted, a restriction also applying to employee pensions.

 

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