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, as amended (the “PBA”);

AND IN THE MATTER OF an Intended Decision of the Superintendent of Financial Services to Refuse to Make an Order under section 74 of the PBA relating to the Retirement Plan for Martinrea Metallic Canada Inc. – Hourly, Registration Number 1048925.

TO:

TB

Former Member

AND TO:

Martinrea Metallic Canada Inc.
3210 Langstaff Road
Vaughan ON L4K 5B2

Attention: 

Frank Burke
Executive Director, Corporate Finance

Employer and Administrator of the Plan

ORDER

ON OR ABOUT November 14, 2016, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Intended Decision to Refuse to Make an Order (the “NOID”) in respect of the Retirement Plan for Martinrea Metallic Canada Inc. - Hourly, Registration Number 1048925 (the “Plan”).

A REQUEST FOR HEARING dated November 23, 2016, was received by the Financial Services Tribunal (the “Tribunal”) on November 25, 2016, from TB in connection with this matter and a hearing was held on July 10 and 11, 2017.

THE TRIBUNAL, in its Reasons for Decision dated October 6, 2017 (the “Decision”), directed the Superintendent to carry out the NOID.

NO APPEAL has been taken from the Decision under section 91 of the PBA and, therefore, the Decision is final.

For the reasons set out in the Decision, I REFUSE TO ORDER Martinrea Metallic Canada Inc. to pay grow-in benefits to TB.

DATED at Toronto, Ontario, this 5th day of December, 2017.  

Original signed by

Mathew Ou
Director, Pension Plans Branch (Acting)
By delegated authority from the
Superintendent of Financial Services

 

© Queen's Printer for Ontario, 2017