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 Pension Plan for Employees of ABB Inc., Registration Number 299636.
8585 Trans-Canada Highway
St. Laurent QC H4S 1Z6
Attention: Mr. Andre Dupuis
Director, Total Compensation
Applicant and Employer
Mr. Herve Benitah
I INTEND TO CONSENT, under section 78(1) of the PBA, to the payment out of the pension fund for the Pension Plan for Employees of ABB Inc., Registration Number 299636 (the “Plan”), to ABB Inc., in the amount of $2,751,650 as at January 1, 2014 plus adjustments to the actual date of payment.
I INTEND TO CONSENT FOR THE FOLLOWING REASONS:
I PROPOSE TO MAKE THE CONSENT effective only after the Applicant satisfies me that:
The net surplus is distributed to the Sharing Group Members in accordance with the Surplus Sharing Agreement. When such distribution has been completed, the Applicant will advise the Superintendent of Financial Services in writing.
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 17th day of February, 2015.
Original Signed By
Lester J. Wong
Deputy Superintendent, Pensions (Interim)
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, 2015