| File Type: | Pension |
|---|---|
| File Number: | P0344-2009 |
| File Name: | Imperial Oil Limited (McColl-Frontenac Inc.) |
| Act: | Pension Benefits Act |
| Plan Name: |
Imperial Oil Limited Retirement Plan for Former Employees of McColl-Frontenac Inc., Registration Number 034402 |
| Applicant: | Imperial Oil Limited, Counsel: Jamal Mahmud, Osler Hoskin & Harcourt LLP |
| Respondent: | Superintendent of Financial Services, Counsel: Deborah McPhail |
| Party: |
Donald C. Dique |
| Panel: |
Elizabeth Shilton (Chair), Ralph Scane, David Short |
| Hearing Date Information: |
04/20/2009 Pre-hearing Conference; 06/17/2009 Pre-hearing Conference; 10/30/2009 & 11/3/2009 Hearing |
| Next Appearance Date: |
10/30/2009 |
|
File Summary: (Go to latest update) |
On February 3, 2009, Imperial Oil Limited (the “Applicant”), filed a request for hearing regarding the Notice of Proposal of the Deputy Superintendent, Pensions, dated December 19, 2008, to make an Order in respect of the Imperial Oil Limited Retirement Plan for Former Employees of McColl-Frontenac Inc, Registration Number 034402 (the “Plan”) requiring the administrator, pursuant to section 87 of the PBA, to purchase annuities for all former members of the Plan or their spouses, who were included in the partial wind up relating to the Partial Wind Up Order issued by the Superintendent dated September 4, 1997, and referred to in the Revised Actuarial Report on the Partial Wind-Up of the Plan prepared July 29, 2005, and who did not elect to transfer their respective pension entitlements out of the Plan pursuant to section 42 of the Act; were employed in Ontario as of the date their employment was terminated; and continue to have pension entitlements under the Plan.
And an Order pursuant to section 88(2)(c) of the Act, requiring the administrator to amend and resubmit the Partial Wind Up Report to provide that all former members of the partial wind up who were employed in Ontario at the date of termination of their employment and who have not selected any of the options that were available under section 42 of the Act will have their pension entitlement distributed by way of purchase of annuities. Updated to February 13, 2009 A pre-hearing conference is scheduled for April 20, 2009. Updated to March 13, 2009 At the pre-hearing conference on April 20, 2009, the parties consented to the consolidation of this proceeding and FST File Numbers P0341-2009 and P0343-2009. A hearing is scheduled for October 30, 2009. Updated to May 21, 2009 During the months of May and June 2009, 11 applications for party status were filed with the Tribunal. At a resumption of the pre-hearing conference on June 17, 2009, all 11 applicants were granted party status by the Tribunal. |
| Additional Notes: | Notes |
