Tag: Act. s. 102
Chityal v. Ontario (CEO of FSRA), 2020 ONFST 3 – Request for Review of Earlier Decision Does not Meet Threshold
In an earlier decision, the Financial Services Tribunal determined that Chityal, a former Nortel employee, would only be permitted to transfer his joint and survivor pension from the Nortel pension plan to the Nortel Life Income Fund by having his former spouse complete the regulatory waiver form . . .
Chityal v. Ontario (CEO of FSRA), 2019 ONFST 22 – Court Order Not Sufficient to Waive Entitlement to Joint & Survivor Pension
Chityal retired from Nortel Networks Limited in 2000 and began receiving a joint and survivor pension, as he was married at the time. When Chityal subsequently sought to transfer the commuted value of his pension into the Nortel Life Income Fund, he and his spouse had divorced and he couldn't locate her in order to obtain her consent to the transfer . . .
The Nova Scotia government introduced Bill 109, Pension Benefits Act (amended), for first reading on March 12, 2019. The Bill makes a number of amendments to the Nova Scotia Pension Benefits Act, largely related to plan funding . . .
The Ontario Superintendent of Financial Services issued a Notice of Intended Decision refusing to make an order requiring a plan administrator to calculate a lump sum transfer on the basis of a joint and survivor pension.