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 Refuse to Make an Order under sections 42(1)(b) and 87(2)(a) of the PBA relating to the Diversey Canada, Inc. Pension Plan, Registration Number 1090208 (the “Plan”)
Diversey Canada, Inc.
2401 Bristol Circle
Human Resources Generalist - Pension and Benefits
ON OR ABOUT March 13, 2015, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Intended Decision (the “NOID”) in respect of the Plan, proposing to refuse to make an order under section 42(1)(b) and sections 87(2)(a), (b) and (c) of the PBA that the Plan administrator, Diversey Canada, Inc. (“Diversey”) transfer the commuted values of the pension benefits of R.P. and G.A. under the Plan to prescribed retirement savings arrangements.
NO REQUEST FOR HEARING was delivered to the Financial Services Tribunal by any person within the time prescribed by section 89(6) of the PBA.
I REFUSE TO ORDER that Diversey transfer the commuted values of the pension benefits of R.P. and G.A. under the Plan to prescribed retirement savings arrangements for the reasons set out in the NOID.
Original Signed By
Director, Pension Plans Branch (Interim)
By delegated authority from the
Superintendent of Financial Services
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