Asset Transfer Notice – January 1, 2019
As most members that belong to the former Canadian Multi-Employer Retirement Fund for the Graphic Arts Media (CMERF) pension plan know, the plan is being merged into the Canada-Wide Industrial Pension Plan (CWIPP). This is a notice from the new administrator of CWIPP updating members on the transfer of assets from CMERF to CWIPP.
To Members and Former Members of the Canadian Multi-Employer Pension Plan for the Graphic Arts Media Transferred to The Canada-Wide Industrial Pension Plan
On December 31, 2018, changes were made to your pension plan. As at that date, you stopped earning benefits in the Canadian Multi-Employer Pension Plan for the Graphic Arts Media, also referred to as the Canadian Multi-Employer Retirement Fund for the Graphic Arts Media (CMERF)- registration number
0555037. However, on January 1, 2019, you began to earn benefits in The Canada-Wide Industrial PensionPlan (CWIPP) – registration number 0563445.
Regarding your CMERF pension benefits earned to December 31, 2018 (as outlined in the Pension Benefit Statement included in this mailing), an application to the Financial Services Regulatory Authority of Ontario (FSRA) is being prepared under Regulation 310/13 of the Pension Benefits Act (Ontario) to permit the transfer of 100% of the assets and liabilities from CMERF to CWIPP- this will be called “the asset transfer” in this notice. If approved, the transfer will be effective as at January 1, 2019. The pension you earned in CMERF will automatically be transferred to CWIPP once the asset transfer is approved by FSRA.
This notice has been jointly prepared by CMERF (the original plan) and CWIPP (the successor plan). It is designed to provide you with details regarding the asset transfer and has been written to complement the Pension Benefit Statement included in this mailing.
The process for obtaining approval for the transfer from the Superintendent of Pensions will take some time to complete. As a result, the actual transfer of assets may not occur for some time. The application for the asset transfer will be submitted to FSRA no later than September 30, 2019, but the timing for the remainder of the process will depend on how long it takes for FSRA to review and approve the application