The applicants sought a declaration that they were entitled to supplementary pension benefits under the respondent's supplementary pension plan following a partial wind up of the registered pension plan.
The partial wind up triggered statutory 'grow in' benefits under the Pension Benefits Act, allowing the applicants to retire early with unreduced pensions.
The court interpreted the supplementary plan's formula, which explicitly excluded 'grow in' benefits from the calculation of the base pension amount.
The court found that when the 'grow in' benefits were excluded, the applicants' base pension amounts were less than the pension benefits they actually earned, resulting in no supplementary benefits being payable.
The application was dismissed, and the court declined to order costs payable from the pension fund.
