Cases related to funds

RESOLUTION TO TERMINATE: voluntary pension fund

During the review of settlements, the voluntary pension fund found that due to a calculation error made upon establishing the petitioner's pension benefit, it made a payment that was higher than the petitioner was entitled to. In view of this, it sent a demand for payment to the petitioner, calling upon him to repay the amount of the overpayment. The petitioner disputed the existence of debt and took the position that the claim was time-barred. After a failed complaint procedure, he applied to the Board asking it that it should declare the claim was time-barred and that he had no outstanding debt to the pension fund. During the procedure, the pension fund repeatedly reviewed the case and acknowledged that the statutory limitation took effect and declared that it had no further claim. In view of the pension fund's written declaration, the petitioner withdrew his petition and the Board terminated the procedure.