| File Type: | Pension |
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| File Number: | P0058-1999 |
| File Name: | General Mills Canada |
| Act: | Pension Benefits Act |
| Plan Name: | The Retirement Plan for Salaried Employees (Consumer Food) of General Mills Canada Inc., Registration No. 342042 |
| Applicant: | General Mills Canada Inc., Counsel: Lisa J. Mills, Hicks Morley Hamilton Stewart Storie |
| Respondent: | Superintendent of Financial Services, Counsel: Deborah McPhail |
| Party: |
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| Panel: | F. Holden (Chair) |
| Hearing Date Information: | 12/08/2004 (Pre-hearing Conference - adjourned); 10/15/1999 (Pre-hearing Conference - adjourned) |
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File Summary: (Go to latest update) |
On June 30, 1999, General Mills Canada Inc. requested a hearing regarding the Superintendent’s Notice of Proposal dated May 19, 1999 refusing to approve a partial wind up report. The grounds for the refusal were: (a) the partial wind up report did not deal with the treatment of surplus on partial wind up; (b) the payment of benefit enhancements on wind up to certain members constituted an inequitable distribution of surplus, and an indirect payment of surplus to the employer without following the statutory requirements for the payment of surplus to the employer; and (c) proper notice of the partial wind up was not provided to the affected members, and the partial wind up report did not allow the affected members who were entitled to an immediate pension and who received a "special pension upgrade" to commute their pension benefits. On May 12, 2000, at the request of the parties, the matter was adjourned sine die pending the outcome of the Monsanto case. On July 29, 2004, the Supreme Court of Canada released its decision in the Monsanto case. On September 2, 2004, the Superintendent requested a pre-hearing conference be scheduled. The pre-hearing conference scheduled for December 8, 2004 was adjourned sine die at the request of the parties on October 27, 2004, due to settlement discussions. |
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