Disclaimer
This is a reproduction of an ORDER as issued and is provided for reference purposes only. In the event of an inconsistency, the ORDER 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 (the “PBA”);

AND IN THE MATTER a Notice of Intended Decision of the Superintendent of Financial Services to refuse to make an order under section 87 of the PBA requiring that pension funds transferred on wind up to an annuity be transferred to a locked-in retirement account relating to the Retirement Benefit Plan for Local 27 C.A.W. Members of Dana Canada Corporation, Registration Number 1017110 (the “Plan”).

 

TO:

MW

Complainant


AND TO:

Dana Canada Corporation
656 Kerr Street
Oakville ON  L6K 3E4

Attention:

Kathryn Ibson

Plan Administrator and Employer


REFUSAL TO MAKE AN ORDER

ON OR ABOUT November 26, 2014, the Superintendent of Financial Services issued a Notice of Intended Decision relating to the Retirement Benefit Plan for Local 27 C.A.W. Members of Dana Canada Corporation, Registration No. 1017110, to refuse to make an order under section 87 of the PBA requiring that pension funds transferred on wind up to an annuity be transferred to a locked-in retirement account.

NO REQUEST FOR 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 REFUSES TO MAKE AN ORDER, for the reasons set out in the Notice of Intended Decision, to permit the pension funds transferred on wind up to an annuity be transferred to a locked-in retirement account.


DATED at Toronto, Ontario, this 29th day of January, 2015.

Original Signed By

John Avgeris
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services

© Queen's Printer for Ontario, 2015