The applicant employer sought to certify a class action on consent for settlement purposes regarding a long-standing dispute over pension plan indexing amendments.
The provincial pension regulator, FSRA, intervened to oppose the settlement and sought to stay the court proceedings in favour of a regulatory hearing before the Financial Services Tribunal.
The court granted FSRA leave to intervene but dismissed the stay motion, finding it had jurisdiction to adjudicate the pension dispute and that a class proceeding was the preferable procedure to achieve finality for all known and unknown plan members.
The action was certified as a class proceeding.
