Disclaimer
This is a reproduction of a Consent as issued and is provided for reference purposes only. In the event of an inconsistency, the Consent 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 Intended Decision of the Superintendent of Financial Services to consent under section 78(1) of the PBA to a payment out of the pension fund for The Canadian Staff Pension Plan of the Manufacturers Life Insurance Company, Registration Number 0273565 (the “Plan”).

TO:

The Manufacturers Life Insurance Company
200 Bloor Street East
Corporate Human Resources
Toronto ON M4W 1E5

Attention:

Brent Smith
AVP, Global Pensions

Applicant and Employer

AND TO:

Paul Timmins
Willis Towers Watson
175 Bloor Street East
South Tower, Suite 1701
Toronto ON M4W 3T6

CONSENT

ON OR ABOUT November 1, 2017, the Superintendent of Financial Services caused to be served on The Manufacturers Life Insurance Company a Notice of Intended Decision dated November 1, 2017, to consent, pursuant to section 78(1) of the PBA, to payment out of the pension fund for The Canadian Staff Pension Plan of the Manufacturers Life Insurance Company, Registration Number 0273565, to The Manufacturers Life Insurance Company in the amount of $5,758,000 as at December 31, 2013, plus adjustments to the actual date of payment.

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 CONSENTS, for the reasons set out in the Notice of Intended Decision, to the payment out of the pension fund for The Canadian Staff Pension Plan of the Manufacturers Life Insurance Company, Registration Number 0273565 to The Manufacturers Life Insurance Company in the amount of $5,758,000 as at December 31, 2013, plus adjustments to the actual date of payment.

THIS CONSENT IS EFFECTIVE ONLY AFTER the Applicant satisfies me that any payments pursuant to the Surplus Distribution Agreement ("SDA") to which members, formers members and any other persons are entitled, and any other payments to which the members and any other persons are entitled, have been paid, purchased, or otherwise provided for.

DATED at Toronto, Ontario, this 28th day of March, 2018.

Original signed by

Gino Marandola
Director, Pension Plans Branch
by Delegated Authority from the
Superintendent of Financial Services

 

Queen's Printer for Ontario, 2018