Stelpipe Ltd. (Frank Reid)

Elizabeth Shilton (Chair), Ralph Scane, Louis Erlichman

Colin McNairn (Settlement Conference)

On June 14, 2006, Stelco Inc. (the "Applicant") requested a hearing regarding the Notice of Proposal of the Deputy Superintendent, Pensions, dated May 8, 2006, proposing to order the administrator of Stelpipe Ltd. Retirement Plan for Salaried Employees Registration Number 1017177 (the “Stelpipe Plan”) to provide Mr. Frank Reid with the difference between the commuted value of the pension benefit which he received from the Stelpipe Plan on or about March 21, 2003 in the amount of $205,595.16, and the revised commuted value amount inclusive of early retirement bridge benefits of $337,093.26 together with interest from August 4, 2000, the date of termination of Mr. Reid’s employment, to the date of payment.

When this matter was before the Deputy Superintendent, the Applicant maintained that, by the terms of settlement in respect of a complaint made by Mr. Reid to the Human Rights Commission, the sum of $202,595.16 was accepted by Mr. Reid in full settlement of any claims against the Applicant and Mr. Reid had released the Applicant from any claims in respect of his pension benefits. The Deputy Superintendent has taken the position that s. 40(2) of the Pension Benefits Act requires that the value of any bridge benefits must be included in the calculation of the pension benefits of pension plan members and that no one can contract out of this statutory minimum standard.  

A pre-hearing conference is scheduled for September 15, 2006.

Updated to August 21, 2006

At the pre-hearing conference on September 15, 2006, Mr. Reid applied for and was granted full party status in these proceedings.  The parties agreed to participate in a settlement conference scheduled for November 17, 2006.  Hearing dates were also scheduled for January 24 and 25, 2007.

Updated to October 6, 2006

On November 20, 2006, the Applicant withdrew the Request for Hearing on the conditions that the Superintendent withdraw his Notice of Proposal and that Mr. Reid withdraw his complaint filed with the Financial Services Commission.  On November 21, 2006 the Superintendent withdrew the Notice of Proposal and Mr. Reid also withdrew his complaint with the Commission.  The January hearing dates were subsequently cancelled. This proceeding is now terminated.

Updated to January 10, 2007

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