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.
On February 09, 2022, Mr. Justice Mayer, the case management judge overseeing this class action, ordered that the Administrator shall pay Settlement Class Members’ Approved Claims in accordance with the Distribution Plan that was approved by this Court on February 04, 2021.
The Administrator has confirmed that payments will be issued to settlement class members within the next two weeks. Payments will be mailed and addressed to settlement class members based on the information provided in the Claims Form that was submitted to the Administrator in 2021.
All Settlement Class Members that filed a claim that was accepted by the Administrator should receive correspondence regarding their approved claim amount within the coming week.
The total Settlement Amount and the process for calculating each class members’ claims amount was approved by the BC Court on February 4, 2021.
If you believe that any of the details in the correspondence addressed to you is incorrect, or you wish to dispute your claim amount for any other reason, please contact CFM Lawyers at 604-689-7555 or [email protected] before January 15, 2022. In order for your Approved Claim to be recalculated you will be required to submit documentation which shows that the details used to calculate your claim are incorrect
On February 09, 2022, at 09:00am the BC Court will hear an application to approve the claims payments to all Settlement Class Members.
This application will take place via Microsoft Teams due to the current health restrictions and so that class members who are located outside of Vancouver may attend remotely. If you are unable to access the hearing remotely on your own, you may be able to attend the hearing at the office of CFM Lawyers located in downtown Vancouver or the office of Arvay Finlay in downtown Victoria. Please contact CFM Lawyers at the contact information listed below for more information on attending the hearing.
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 - View
Boilermakers’ Pension Plan – Settlement Agreement approved - View
Boilermakers’ Pension Plan update - View