Disclaimer
This is a reproduction of a Consent as issued and is provided for reference purposes only. In the event of an inconsistency, the Consent as issued takes precedence over this reproduction.

 

 
Superintendent of
Financial
Services
 
Ontario Coat of Arms
 
Surintendant des
services
financiers
 

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 consent under section 62.1(5) of the PBA to a payment out of the pension fund for the Pension Plan for Hourly Employees at the Clarkson Plant of the Coatings & Resins Division of PPG Canada Inc., Registration Number 0359349 (the “Plan”).

TO:

PPG Canada Inc.
5676 Timberlea Boulevard
Mississauga  ON  L4W 4M6

Attention:

Monica Frank
Director, Human Resource Services

Applicant and Employer

AND TO:

Armand Abehsera, FSA, FCIA
Mercer
161 Bay Street
P.O. Box 501
Toronto  ON  M5J 2S5

CONSENT

ON OR ABOUT December 5, 2017, the Superintendent of Financial Services issued a Notice of Intended Decision in respect of the pension fund for the Pension Plan for Hourly Employees at the Clarkson Plant of the Coatings & Resins Division of PPG Canada Inc., Registration Number 0359349, to consent, pursuant to section 62.1(5) of the PBA, to payment out of the Plan to PPG Canada Inc. in the amount of $916,715 as at June 30, 2017, plus investment earnings thereon to the date of payment.

Si vous désirez recevoir cet avis en français, veuillez envoyer votre demande immédiatement à : Adjointe, audiences, Greffe, Commission des services financiers de l’Ontario, 5160 rue Yonge, Toronto ON M2N 6L9.

NO REQUEST FOR 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.

THE SUPERINTENDENT OF FINANCIAL SERVICES THEREFORE CONSENTS, for the reasons set out in the Notice of Intended Decision, to the payment out of the Plan to PPG Canada Inc. in the amount of $916,715 as at June 30, 2017, plus investment earnings thereon to the date of payment.

DATED at Toronto, Ontario, this 27th day of February, 2018.

Original signed by

Gino Marandola
Director, Pension Plans Branch
by Delegated Authority from the
Superintendent of Financial Services

 

Queen's Printer for Ontario, 2018