May 2022:  In the event of bankruptcy RRSPs and RRIFs in British Columbia are exempt from creditors, except for the last 12 months of contributions. However, if the RRSP or RRIF is an insurance product with a properly named beneficiary — specifically a parent, spouse or common-law partner, child, or grandchild — all contributions, including those made within 12 months of bankruptcy, would be protected. Generally, pension monies in all Canadian jurisdictions are protected from creditors while in the plan, including defined-benefit or defined-contribution plans, or when the proceeds are transferred to a locked-in retirement account (LIRA) or a life income fund (LIF).