Imperial Oil Limited - October 9, 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(4) of the PBA consenting to a payment out of the Imperial Oil Limited Retirement Plan (the Plan), Registration Number 347054.

TO:

Imperial Oil Limited
237 Fourth Ave SW
PO Box 2480, Stn M
Calgary AB 
T2P 3M9

 

ORDER

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.

IT IS THEREFORE ORDERED to consent to the payment, out of the Plan, to Imperial Oil Limited, as at February 1, 2006 and March 1, 2006 in the amount of $10,135,000.00 plus interest to the date of payment for the following reasons:

  1. Imperial Oil Limited is the employer as defined in the Plan.

  2. As a result of an administrative error, employer contributions intended for the ExxonMobil Business Support Centre Retirement Plan (New Brunswick Registration No. 1110337) were erroneously made to the Imperial Oil Limited Retirement Plan.

  3. Evidence of the overpayment to the fund has been submitted to the Financial Services Commission of Ontario.

DATED at Toronto, Ontario, this 9th day of October, 2007

 

 


___________________________

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

 

 
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