Because of recent changes to the bankruptcy legislation, registered retirement savings have some protection from creditors if you go bankrupt.
Amendments to Canada's Bankruptcy and Insolvency Act mean that for bankruptcies occurring after July 7, 2008 creditors can no longer go after your Registered Retirement Savings Plans (RRSPs), Registered Retirement Income Funds (RRIFs) or Deferred Profit Sharing Plans (DPSPs) to pay off owing debts.
In the past, only some investments such as certain segregated funds and pension funds were protected from creditors. Now, you don't have to worry that all your retirement savings will be lost if you go bankrupt. However, to prevent intentional protection of funds, any money put into registered plans in the 12 months before a bankruptcy (or longer) may not be subject to this new rule.