This class action alleges that each of the class members accepted an offer from the Defendant to transfer the full commuted value of their pensions out of the Pension Plan by receipt of two payments five years apart. As part of this agreement, the former members gave up their membership in the Pension Plan, expecting to receive the deferred payment of the second portion of the commuted value of their pensions (the “Deferred Payments”). In April 2013, the Defendant advised that all Deferred Payments would be suspended. In March 2014, the Defendants cancelled all Deferred Payments.
On June 18, 2015, the Plaintiff commenced an action against the Defendant alleging breach of contract and breach of trust for their failure to pay his Deferred Payments. On June 17, 2016, the claim was amended to be brought under the Class Proceedings Act, R.S.B.C. 1996, c. 50 (“CPA”). On August 9, 2016, the action was transferred to the Vancouver Registry.
A settlement was reached in February 2020.
On February 4, 2021, Mr. Justice Mayer, the case management judge in this action, approved the Settlement Agreement, the Distribution Plan and appointed the defendant as the Administrator with respect to the Distribution Plan. You can access the oral reasons for judgement here.
Class members should have received a copy of the notice to class members (certification and settlement) by email and/or regular mail. If you are a class member and you have not received the notice, please contact Class Counsel by emailing Aisling Slevin at [email protected], to provide your current contact information.
Class members will be receiving a second notice, asking for information necessary to process each class members’ claim and distribute the settlement funds (the “Claims Notice”). The Claims Notice will also be posted here.
For further information on the claims process and how the settlement funds will be distributed, please refer to the Settlement Administration and Distribution Plan.
Boilermakers’ Pension Plan – Settlement Agreement approved - View
Boilermakers’ Pension Plan update - View