Background:

• Brewers Retail Inc. established a defined benefit pension plan in 1945, including indexing adjustments from 1974 to 1988.
• Brewers attempted to limit indexing through amendments in 2010 and 2013, opposed by a group of affected members.
• The dispute revolved around whether the indexing constituted a "pension benefit" under the Pension Benefits Act (PBA).

Legal Proceedings:

• A settlement was negotiated and approved by the Financial Services Commission of Ontario (FSCO) but later contested by FSRA.
• FSRA argued the Financial Services Tribunal (FST) had exclusive jurisdiction and sought to stay the settlement implementation through a class proceeding.
• The motion judge dismissed FSRA’s claim, certified the class proceeding, and FSRA appealed.

Court of Appeal Decision:

• The court upheld the lower court’s decision, confirming its jurisdiction over the class proceeding.
• It determined the class proceeding was the preferable method to resolve the indexing issues comprehensively.
• The decision ensured finality and fairness for all parties involved, acknowledging the concurrent jurisdiction of the FST but emphasizing the court's essential role.

Outcome: The appeal was dismissed, allowing the class action to proceed, with FSRA ordered to pay $30,000 in costs to the respondents.

This ruling affirms the court's authority to manage class proceedings and settlements in regulated pension plan disputes.