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 (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 Agreement between PPG Canada Inc. Owen Sound, Ontario and the National Automobile, Aerospace, Transportation and General Workers Union of Canada (CAW-Canada) and its Local 248, Registration Number 0369975 (the “Plan”).

 

TO:

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

Attention:
Ms. Monica Frank
Director, HR Services

Applicant and Employer

AND TO:

Armand Abehsera
Mercer

CONSENT

ON OR ABOUT November 5, 2014, the Superintendent of Financial Services issued a Notice of Intended Decision in respect of the Pension Agreement between PPG Canada Inc. Owen Sound, Ontario and the National Automobile, Aerospace, Transportation and General Workers Union of Canada (CAW-Canada) and its Local 248, Registration No. 0369975, 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 $1,215,742, 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 Pension Agreement between PPG Canada Inc. Owen Sound, Ontario and the National Automobile, Aerospace, Transportation and General Workers Union of Canada (CAW-Canada) and its Local 248 to PPG Canada Inc. in the amount of $1,215,742, as at May 31, 2014 plus investment earnings thereon to the date of the payment.

DATED at Toronto, Ontario, this this 6th day of February, 2015.

Original Signed By

John Avgeris
Director, Pension Plans Branch
by Delegated Authority from the Superintendent of Financial Services

© Queen's Printer for Ontario, 2015