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 make an Order under section 69 of the PBA, respecting the Pension Plan for The Agents of Union of Canada Life Insurance Company Registration Number 0548008.
Morneau Shepell Ltd.
895 Don Mills Road
Tower One, Suite 700
Toronto ON M3C 1W3
President and Chief Executive Officer
Union of Canada Life Insurance
325 Dalhousie Street
PO Box 717
Ottawa ON K1P 5P8
Grant Thornton LLP
200 Bay Street, Box 55
19th Floor, South Tower
Toronto ON M5J 2P9
I INTEND TO MAKE AN ORDER under section 69 of the PBA that the Pension Plan for The Agents of Union of Canada Life Insurance Company, Registration Number 0548008 (the “Plan”) be wound up effective February 2, 2012.
I INTEND TO MAKE THE ORDER FOR THE FOLLOWING REASONS:
The employer failed to make contributions to the pension fund as required by the PBA.
A significant number of members of the pension plan ceased to be employed by the employer as a result of the discontinuance of all or part of the business of the employer or as a result of the reorganization of the business of the employer.
All or a significant portion of the business carried on by the employer at a specific location was discontinued.
Such further and other reasons as may come to my attention.
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 2nd day of November, 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