ING Canada Inc. - August 28, 2007

IN THE MATTER OF the Pension Benefits Act, R.S.O. 1990, c. P.8 (PBA);

 

AND IN THE MATTER OF a Proposal by the Superintendent of Financial Services to make an Order under section 78(1) of the PBA consenting to a payment out of Pension Plan for Employees of ING Canada Inc. and its Affiliated Companies (the Plan), Registration Number 0338541.


TO:

ING Canada Inc.
700 University Avenue
Toronto, Ontario
M5G 0A1

Attention: Rhonda Lawson
Senior Vice President,
Human Resources

Applicant and Employer

 

CONSENT


On or about June 13, 2007 the Superintendent of Financial Services caused to be served on ING Canada Inc. a Notice of Proposal dated June 13, 2007 to consent, pursuant to section 78(1) of the PBA, to payment out of the Pension Plan for Employees of ING Canada Inc. and its Affiliated Companies, Registration No. 0338541, to ING Canada Inc. in the amount of $2,504,000 as at September 30, 2006 adjusted for investment earnings and expenses to the actual date of payment.

 

No Notice requiring a hearing was delivered to the Financial Services Tribunal by the Applicant or any other party within the time prescribed by section 89(6) of the PBA.

THE SUPERINTENDENT OF FINANCIAL SERVICES THEREFORE CONSENTS to the payment out of the Pension Plan for Employees of ING Canada Inc. and its Affiliated Companies, Registration Number 0338541, to ING Canada Inc. in the amount of $2,504,000 as at September 30, 2006 adjusted for investment earnings and expenses to the actual date of payment.

 

THIS CONSENT IS EFFECTIVE ONLY AFTER the Applicant satisfies me that all benefits pursuant to the surplus distribution agreement set have been paid or otherwise provided for.     

 

 

DATED at Toronto, Ontario, this 28th day of August, 2007

 




______________________________________

Tom Golfetto
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services

 
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