HOOPP Announces New Name

Healthcare of Ontario Pension Plan

Feb. 12, 2010

HOOPP, Canada's largest private pension fund, is marking its 50th anniversary with a new name, a new look, and a new strategy.

"We're still called HOOPP," says President and CEO John Crocker. "But the "H" in HOOPP is changing to Healthcare, and our full name is now the Healthcare of Ontario Pension Plan. Our new name is much more reflective of the reality of Ontario healthcare today."

Increasingly, health services are being delivered via community-based organizations, such as Family Health Teams, Community Health Centres, and Nurse Practitioner-Led clinics.

"While hospitals will always be a core part of the HOOPP family, we felt it was appropriate to reach out to this growing sector. Approximately half of HOOPP's participating employers are not actually hospitals – there are many clinics, food services, laundry services, and other health-related organizations that offer HOOPP to their employees," says Crocker.

HOOPP's new look will be rolled out over the course of the year. There will be no change in the day-to-day services HOOPP delivers.

"Our strategy, going forward, is to continue to ensure that the Fund is well invested and that our service to members is the best possible," Crocker says.

"For 50 years now, we've been delivering on the pension promise. More than 250,000 Ontarians are depending on us for their retirement income – a job we take very seriously. From that first paper cheque delivered to our first pensioner in 1960, to the $1 billion in annual pensions we pay out electronically today, our focus has been on the hardworking members of Ontario's healthcare community," says Crocker.