The applicant, a member of the Ontario Teachers' Pension Plan, sought to transfer the commuted value of his pension upon termination of employment.
The applicant had become eligible for an immediate pension under the plan's early retirement window.
The Financial Services Tribunal dismissed the application, holding that under section 42(3) of the Pension Benefits Act and the terms of the plan, a member who is eligible for an immediate pension is not entitled to transfer the commuted value of their pension.
