DECEMBER 2008
volume 20, number 6
A Major Victory for Lawyers in B.C. CBABC advocacy to protect retirement savings pays off
O
n November 2, 2008, Premier Gordon Campbell announced that the Provincial Government will be acting on the Canadian Bar Association B.C. Branch (CBABC) recommendation that RRSPs and similar savings instruments be protected from seizure by creditors. The day following this announcement Miriam Maisonville, CBABC President, emphasised its great importance to lawyers around this province. “CBABC has been actively lobbying for this legislative change not only because it removes an anomaly in the law, but because the majority of lawyers and other professionals, as well as the self-employed and small-business owners, rely on their retirement savings and do not have access to protected pension plans.” CBABC has confirmed that RRSP investments with banks is only one example of RRSPs to be protected. It is intended that protection will be extended to all RRSPs recognized under the federal Income Tax Act, consistent with the legislation proposed by CBABC and currently in place in Saskatchewan. In February 2006 (refer to page 18), CBABC efforts to protect retirement saving were noted in this publication’s cover story with the headline reading “Protecting your Retirement Investments: CBABC proposes Registered Plan (Retirement Income) Exemption Act.” That article traced CBABC’s advocacy to the work of the Legislation and Law Reform Committee who monitored the law and policy across
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Canada regarding creditor enforcement of RRSPs, RRIFs and DPSPs. The persistence of our members and executive over time has born concrete and impactful results. While one challenge has been met many more remain, including CBABC’s active promotion of respect for our justice system, mandated by council in a resolution this past June. The RRSP success stands as a powerful example of the difference that CBABC members can make volunteering their time for the good of the profession as a whole. This same commitment will be required to meet the challenges that await lawyers in the New Year both individually and as a profession. Though lawyers wear many hats, the lobbying efforts that met with success this past November demonstrate the power of working together toward common goals. In This Issue
The staggering diversity of roles lawyers undertake; from Olympic Athletes; Ombudsman; to Advocates for the homeless are highlighted in this issue. From now until the 2010 Olympic flame is extinguished, we will be showcasing the inspiring stories of lawyers who have participated in the Olympic movement. Alan Hobkirk, lawyer and Captain of the 1976 Canadian Olympic field hockey team, kicks off the series. Whatever their stripes, lawyers are stronger in solidarity as they strengthen the profession and the Justice system as a whole. For more information about CBABC advocacy work please visit our website at www.cba.org/bc. BT