Pension Enforcement Action

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 78(1) of the PBA to a payment out of the pension fund for the Revised Pension Plan for NEI Salaried Employees of Rolls-Royce Canada Limited, Registration Number 0237164.

TO:

Rolls-Royce Canada Limited
9500 Côte-de-Liesse
Lachine QC H8T 1A2

Attention:
Hosam Azara
Reward Specialist

Applicant and Employer

AND TO:

Lisa Lavoie
Mercer (Canada) Limited
690-2954 Laurier Boulevard
Québec QC G1V 4T2

CONSENT

ON OR ABOUT April 22, 2015, the Superintendent of Financial Services caused to be served on Rolls-Royce Canada Limited a Notice of Intended Decision dated April 21, 2015 to consent, pursuant to section 78(1) of the PBA, to payment out of the pension fund for the Revised Pension Plan for NEI Salaried Employees of Rolls-Royce Canada Limited, Registration Number 0237164, to Rolls-Royce Canada Limited in the amount of $268,600, as at March 31, 2014, plus adjustments to the actual date of 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 pension fund for the Revised Pension Plan for NEI Salaried Employees of Rolls-Royce Canada Limited, Registration Number 0237164, to Rolls-Royce Canada Limited in the amount of $268,600, as at March 31, 2014, plus adjustments to the actual date of payment.

THIS CONSENT IS EFFECTIVE ONLY AFTER the Applicant satisfies me that
any payments pursuant to the Surplus Sharing Proposal to which the members, former members and any other persons are entitled, and any other payments to which the members, former members and any other persons are entitled, have been paid, purchased, or otherwise provided for.

DATED at Toronto, Ontario, this this 10th day of June, 2015.

Original Signed By

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