IN THE MATTER OF the Pension Benefits Act, R.S.O. 1990, c. P.8 (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 Cascades Boxboard Group – Toronto, a division of Cascades Canada Inc. Pension Plan for Employees who are Members of the CEP Locals 1112 and 333, Registration Number 0459636 (the “Plan”).
Cascades Canada Inc.
1061 Parent Street
St. Bruno QC J3V 6R7
Caroline Tremblay
Corporate Director, Human Resources
Isabelle Trudeau
Principal
Mercer (Canada) Limited
1981 McGill College Avenue, Suite 800
Montreal QC H3A 3T5
ON OR ABOUT September 10, 2014, the Superintendent of Financial Services issued a Notice of Intended Decision in respect of the Cascades Boxboard Group – Toronto, a division of Cascades Canada Inc. Pension Plan for Employees who are Members of the CEP Locals 1112 and 333, Registration No. 0459636, to consent, pursuant to section 62.1(5) of the PBA, to payment out of the Plan to Cascades Canada Inc. in the amount of $2,984,427, as at May 31, 2014, plus investment earnings thereon to the date of the payment.
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 Cascades Boxboard Group – Toronto, a division of Cascades Canada Inc. Pension Plan for Employees who are Members of the CEP Locals 1112 and 333 to Cascades Canada Inc. in the amount of $2,984,427, as at May 31, 2014, plus investment earnings thereon to the date of the payment.
DATED at Toronto, Ontario, this this 3rd day of November, 2014.
Original Signed By
John Avgeris
Director, Pension Plans Branch
by Delegated Authority from the
Superintendent of Financial Services