We are pleased to announce that all required approvals for the settlement and surplus sharing agreement have been granted by the Court and by the Financial Services Commission of Ontario. The settlement is now being implemented and payments to class members were made by Canada Life in July and were expected to be completed by the end of August 2016. The contribution holiday for active Plan members will start in January 2017 and run to December 2018. Lump sum payments to former active employees who terminated employment will be made in January of 2017.
Information relating to this case can be found on the web page of our co-counsel Koskie Minsky LLP.