IN THE MATTER OF
the Pension Benefits Act
, R.S.O. 1990, c. P.8 (PBA);
AND IN THE MATTER OF a Proposal by the Superintendent of Financial Services to make an Order under section 78(4) of the PBA consenting to a payment out of the Accenture Business Services for Utilities Inc. Pension Plan (the Plan), Registration Number 1085687.
Accenture Business Services for Utilities Inc.
#2100 - 401 West Georgia Street
No Notice requiring a 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.
IT IS THEREFORE ORDERED to consent to the payment, out of the Plan, to Accenture Business Services for Utilities Inc., as at August 03, 2007 in the amount of $1,027,134.76 plus interest to the date of payment for the following reasons:
- Accenture Business Services for Utilities Inc. is the employer as defined in the Plan.
- As a result of an administrative error, the employer incorrectly included the pensionable earnings for the defined contribution plan members when determining the required contributions for the defined benefit portion of the Plan. The employer had already made the correct required contributions to the defined contribution portion of the Plan.
- Evidence of the overpayment to the fund has been submitted to the Financial Services Commission of Ontario.
DATED at Toronto, Ontario, this 29th day of January, 2008.
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services