On November 6, 2003, the Supreme Court of Canada dismissed the City of Toronto’s application for leave to appeal the Ontario Court of Appeal’s decision in City of Toronto v. John Markle, Michel Jory, Wes Rowe and Jack Walford, Trustees of the Metropolitan Toronto Pension Plan.

At trial, the Ontario Superior Court of Justice (the “Court”) reviewed the validity of an amendment to permit the payment of internal administration expenses from the Metropolitan Toronto pension plan fund. The Court concluded that the amendment was invalid. The Court found that although there was a broad power of amendment in the plan, the plan fund was impressed with a trust in favour of plan members. Since there was no express power of revocation reserved by the City of Toronto at the time the trust was created, the internal expenses amendment was invalid as it purported to partially revoke the trust.

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