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 consent, under section 78(1) of the PBA, to a payment out of the pension fund for the Retirement Plan for Canadian Staff Employees of Hubbell/Burndy, Registration Number 0588756.
Burndy Canada Inc.
40 Waterview Drive
Shelton CT 06484
Attention: Lisa Gibson Retirement Plans
Applicant and Employer
Towers Watson Canada Inc.
1701-175 Bloor Street, E
Toronto ON M4W 3T6
NOTICE OF INTENDED DECISION
I INTEND TO CONSENT, under section 78(1) of the PBA, to the payment out of the pension fund for the Retirement Plan for Canadian Staff Employees of Hubbell/Burndy, Registration Number 0588756 (the “Plan”) in respect of the partial wind up of the Plan effective December 31, 2008, to Burndy Canada Inc., in the amount of $134,000 as at June 30, 2011, adjusted for the applicable portion of the investment returns and actual expenses, plus adjustments to the actual date of payment, as determined in accordance with the Surplus Sharing Proposal.
I INTEND TO MAKE THE CONSENT effective only after the Applicant satisfies me that any payments pursuant to the Surplus Sharing Proposal to which the members, former members and any other persons are entitled, and any other payments to which the members, former members and any other persons are entitled, have been paid, purchased, or otherwise provided for.
I INTEND TO CONSENT FOR THE FOLLOWING REASONS:
YOU ARE ENTITLED TO A HEARING by the Financial Services Tribunal (the “Tribunal”) pursuant to section 89(6) of the PBA. To request a hearing, you must deliver to the Tribunal a written notice that you require a hearing, within thirty (30) days after this Notice of Intended Decision is served on you.1
YOUR WRITTEN NOTICE must be delivered to:
Financial Services Tribunal
5160 Yonge Street
Attention: The Registrar
FOR FURTHER INFORMATION on a Form for the written notice, please see the Tribunal website at www.fstontario.ca or contact the Registrar of the Tribunal by phone at
416-590-7294, toll free at 1-800-668-0128, ext. 7294, or by fax at 416-226-7750.
IF YOU FAIL TO REQUEST A HEARING WITHIN THIRTY (30) DAYS, I MAY CARRY OUT THE INTENDED DECISION AS DESCRIBED IN THIS NOTICE.
DATED at Toronto, Ontario, this 5th day of July, 2012.
Original Signed By
K. David Gordon
Deputy Superintendent, Pensions
1NOTE - Pursuant to section 112 of the PBA any Notice, Order or other document is sufficiently given, served or delivered if delivered personally or sent by regular mail and any document sent by regular mail shall be deemed to be given, served or delivered on the fifth day after the date of mailing.
© Queen's Printer for Ontario, 2012