On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Whereas Section 80 of the Pension Benefits Act (PBA) provides for the transfer of pension plan assets upon a sale or other disposal of a business;

And Whereas the Workplace Safety and Insurance Board (WSIB) recently transferred the responsibility for investment of its pension assets to the Investment Corporation of Ontario (IMCO) along with the transfer of the WSIB employees who were tasked with carrying out that function;

And Whereas employees of the IMCO participate in the Public Service Pension Plan (PSPP), administered by the Ontario Pension Board (OPB);

And Whereas the WSIB, IMCO and OPB wish to enter into a transfer agreement pursuant to Section 80 of the PBA in the form set out as Appendix “A” to this Order;

And Whereas subsection 36(5) of the PSPP text prohibits the OPB from entering into a transfer agreement unless that agreement has first been approved by the Lieutenant Governor in Council;

Therefore pursuant to subsection 36(5) of the Public Service Pension Plan set out in Schedule 1, as amended, of the Public Service Pension Act:

The transfer agreement among the WSIB, IMCO, and OPB attached as Appendix “A” to this Order is hereby approved.

Appendix "A" - Transfer Agreement

Treasury Board Secretariat

Approved and Ordered: March 21, 2018