December 22, 2010
We are pleased to advise that, on December 3rd, 2010, Ontario’s pension regulator indicated that he intends to consent to the Surplus Withdrawal Application. Interested parties have thirty days to request a hearing before the Financial Services Tribunal. If no hearing is requested within that time, then this proposal will become effective, and the final regulatory approval will have been obtained. Once the accrued pension benefits that members have earned under the Plan are completely paid or provided for, then the surplus distribution will be able to proceed. We have been advised that this is scheduled to take place no later than June 30, 2011. For further information regarding the remaining steps to surplus distribution, please click the FAQ tab below.