The Applicant, a retired member of a defined benefit pension plan, challenged the cessation date of his bridge benefit.
He argued that the bridge benefit should continue until his Canada Pension Plan and Old Age Security payments commenced, rather than ceasing on the first day of the month prior to his 65th birthday.
The Financial Services Tribunal found that the bridge benefit was paid in accordance with the clear terms of the pension plan, which stipulated cessation on the first of the month prior to the attainment of age 65.
The Tribunal also held that the plan terms were consistent with the Pension Benefits Act and the Income Tax Regulations.
The application was dismissed and the Superintendent's Notice of Intended Decision to refuse an order was upheld.
