IN THE MATTER OF the Pension Benefits Act, R.S.O. 1990, c. P.8, as amended (the “PBA”);
AND IN THE MATTER OF 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 Employees of First Nickel Inc., Registration Number 1167451.
Wind-up Customer Service Specialist
The Great-West Life Assurance Company
255 Dufferin Avenue
London ON N6A 4K1
First Nickel Inc.
206-120 Front St. E.
Toronto ON M5A 4L9
KSV KOFMAN INC.
2308-150 King Street West
Toronto ON M5H 1J9
Ann Marie MacInnis
Sudbury Mine, Mill & Smelter Worker’s Union
2550 Richard Lake Road
Sudbury ON P3G 0A3
NOTICE OF INTENDED DECISION
I INTEND TO MAKE AN ORDER under section 69 of the PBA that the Pension Plan for the Employees of First Nickel Inc., Registration Number 1167451 (the “Plan”) be wound up effective August 20, 2015.
Si vous désirez recevoir cet avis en français, veuillez envoyer votre demande immédiatement à: Adjointe, audiences, Greffe, Commission des service financiers de l’Ontario, 5160 rue Yonge, boîte 85, Toronto ON M2N 6L9.
YOU ARE ENTITLED TO A HEARING by the Financial Services Tribunal (the "Tribunal") pursuant to section 89(6) of the PBA. A hearing before the Tribunal about this Notice of Intended Decision may be requested by completing the enclosed Request for Hearing (Form 1) and submitting it to the Tribunal within thirty (30) days after this Notice of Intended Decision is served on you.1
Additional copies of the enclosed Form 1 can be obtained by visiting the Tribunal’s website at www.fstontario.ca.
If a Request for Hearing (Form 1) is submitted to the Tribunal within thirty (30) days after this Notice of Intended Decision is served on you, subsection 89(8) and 89(9) of the PBA provide that the Tribunal shall appoint a time for and hold a hearing, and by order may direct the Superintendent of Financial Services (the "Superintendent") to make or refrain from making the intended decision indicated in this notice and to take such action as the Tribunal considers the Superintendent ought to take in accordance with the PBA and the regulations, and for such purposes, the Tribunal may substitute its opinion for that of the Superintendent.
IF NO WRITTEN REQUEST FOR A HEARING IS MADE within thirty (30) days after this Notice is served on you, TAKE NOTICE THAT the Superintendent will carry out the ORDER pursuant to section 89(7) of the PBA.
A completed Request for Hearing form must be received by the Tribunal within 30 days of this Notice is served on you. The Request for Hearing form may be mailed, faxed or delivered to:
Financial Services Tribunal
5160 Yonge Street
Attention: The Registrar
The hearing before the Tribunal will proceed in accordance with the Rules of Practice and Procedures for Proceedings before the Financial Services Tribunal made under the authority of the Statutory Powers Procedure Act, R.S.O. 1990, c.S.22. Those Rules are available at the website of the Tribunal: www.fstontario.ca.
Alternatively, a copy can be obtained by telephoning the Registrar of the Tribunal at 416-590-7294, or toll free at 1-800-668-0128 ext 7294.
REASONS FOR DECISION:
The Employer failed to make contributions to the pension fund of the Plan 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.
DATED at Toronto, Ontario, this 17th day of February, 2016.
Original Signed By
Lester J. Wong
Deputy Superintendent, Pensions
By delegated authority from the
Superintendent of Financial Services