Disclaimer
This is a reproduction of a NOID as issued and is provided for reference purposes only. In the event of an inconsistency, the NOID as issued takes precedence over this reproduction.

 

 
Superintendent of
Financial
Services
 
Ontario Coat of Arms
 
Surintendant des
services
financiers
 

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

AND IN THE MATTER OF a Notice of Intended Decision of the Superintendent of Financial Services to consent under section 62.1(5) of the PBA to a payment out of the pension fund for the  The Retirement Plan for Hourly Union Employees of syncreon Canada Inc., Members of CAW Local 222 , Registration Number 1037647 (the “Plan”).  

 

TO:

Syncreon Canada Inc.
999 Boundary Road
Oshawa  ON  L1J 8P8

Attention: Valerie Cameron
Sr. Benefits Specialist

 

NOTICE OF INTENDED DECISION

I INTEND TO CONSENT, under section 62.1(5) of the PBA, to the payment out of the pension fund for the Plan to syncreon Canada Inc., as at July 29, 2011, in the amount of $607,407 plus interest to the date of payment.

I INTEND TO CONSENT FOR THE FOLLOWING REASONS:

  1. Syncreon Canada Inc. is the employer and administrator as defined in the Plan (the “Employer”).


  2. Employer contributions attributable to the Pension Plan for Hourly-Rated Employees of syncreon Canada Inc., Employed at Hagersville and Tillsonburg (Registration Number 0596270) were deposited to the pension fund for the Plan.  Accordingly, the amount in question constitutes an overpayment within the meaning of section 62.1(1)(b) of the PBA.


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


  4. This application for the payment to the Employer was made on March 20, 2012. Accordingly, the application has been filed within the time limits set out in 62.1(4) of the PBA.


  5. Such further and other reasons as may come to my attention.

 

YOU ARE ENTITLED TO A HEARING by the Financial Services Tribunal (the “Tribunal”) pursuant to section 89(6) of the PBA. To request a hearing, you must deliver to the Tribunal a written notice that you require a hearing, within thirty (30) days after this Notice of Intended Decision is served on you.1

YOUR WRITTEN NOTICE must be delivered to:

Financial Services Tribunal
5160 Yonge Street
14th Floor
Toronto, Ontario
M2N 6L9

Attention: The Registrar

FOR FURTHER INFORMATION on a Form for the written notice, please see the Tribunal website at www.fstontario.ca or contact the Registrar of the Tribunal by phone at
416-590-7294, toll free at 1-800-668-0128, ext. 7294, or by fax at 416-226-7750.

IF YOU FAIL TO REQUEST A HEARING WITHIN THIRTY (30) DAYS, I MAY CARRY OUT THE INTENDED DECISION AS DESCRIBED IN THIS NOTICE.

DATED at Toronto, Ontario, this 21st day of June2012.              

 

Original Signed By

K. David Gordon
Deputy Superintendent, Pensions

1Note – Pursuant to section 112 of the PBA any Notice, order or other document is sufficiently given, served or delivered if delivered personally or sent by regular mail and any document sent by regular mail shall be deemed to be given, served or delivered on the fifth day after the date of mailing.

© Queen's Printer for Ontario, 2012