I INTEND TO MAKE AN ORDER under section 78(1) of the PBA, to the payment out of the pension fund for the Pension Plan for the Employees of Alexander Metal Products (1965) Limited, Registration Number 0533273 (the "Plan"), to Alexander Metal Products (1965) Limited, in the amount of $98,068.19 as at January 27, 2009 plus adjustments to the date of payment.
I INTEND TO CONSENT FOR THE FOLLOWING REASONS:
- Alexander Metal Products (1965) Limited is the employer and administrator as defined in the Plan (the "Employer").
- The Plan was wound up effective October 31, 2002.
- As indicated in the report provided with the Employer's application for payment of surplus as at January 27, 2009, the surplus in the plan was estimated at $87,068.19.
- The Employer is entitled under the documents that create and support the Plan and its pension fund to the payment of surplus on the wind up of the Plan.
- The Employer has applied, pursuant to section 78 of the PBA, for consent of the Superintendent of Financial Services to the payment of 100% of the surplus to be distributed from the Plan (after adding 100% of investment earnings and deducting 100% of the expenses related thereto).
- The application appears to comply with sections 78, 78(3)(c) and all other applicable requirements under the PBA and with sections 28(5.1) and 28(6) of the Regulation.
- Such further and other reasons as 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 27th day of April, 2012.
K. David Gordon
Deputy Superintendent, Pensions