The Applicant, whose employment was terminated due to a plant closure, requested a hearing to challenge the Superintendent's Notice of Intended Decision refusing to order the recalculation of his pension benefits.
The Applicant argued he was entitled to multiple unreduced early retirement pensions under the pension plan and the Pension Benefits Act.
The Financial Services Tribunal found that the Applicant had received the maximum value of his pension benefits, including an unreduced early retirement pension and bridge benefits, and was not entitled to duplicate pension streams.
The Tribunal upheld the Superintendent's decision and awarded nominal costs of $500 against the self-represented Applicant for pursuing a manifestly unfounded claim.