At HOOPP, we are proud of our history. And why not? From humble beginnings almost half a century ago, we have grown into one of Canada’s biggest and most respected pension plans.

Today, HOOPP is the dominant pension arrangement in the healthcare sector – offering a first-rate pension plan the sector can call its own. With $30 billion in assets, we are helping more than 155,000 active members at 321 healthcare-related organizations build a pension that will replace a portion of their pre-retirement earnings. At the same time, we are paying pensions to more than 63,000 retired members. A further 16,000 members have deferred pensions that they can start collecting upon reaching retirement age.

Following is a quick synopsis of how we got to be where we are today... and where we are heading.  

• During the 1950s, accessibility to retirement benefits was – at best – a hit-and-miss proposition for most hospital workers. Some hospitals had pension plans, but most didn’t. Among those that had plans, member costs and available benefits varied widely.

• In 1959, the Ontario Hospital Association (OHA) proposed a single, uniform plan. The intent was to create a plan that offered a uniform pension arrangement – at an affordable price – to all healthcare workers across the province. The idea took hold. HOOPP was launched on New Year’s Day, 1960, and grew quickly.

• In November 1993 HOOPP spun off from the OHA, becoming a self-governing organization. The Plan is now administered jointly by an independent Board of Trustees with equal representation from the OHA and four unions representing the majority of Plan members. This joint governance structure, which has been recognized across the country for its success, helps ensure that decisions address the needs of all parties.

• Today, we are helping the healthcare sector work through a period of unprecedented change. Specifically, we are:
  • working with various industry groups to ensure that members have access to HOOPP, even as their employment relationships change
  • meeting with stakeholders to ensure pension issues are on the table
  • moving toward a web-based service delivery model that will reduce HOOPP-related administrative work for participating employers; and
  • reaching out to new organizations, to ensure they understand the value of offering HOOPP to their employees.
• Going forward, HOOPP will continue to monitor the trends and developments in healthcare, and in pension legislation, that impact our stakeholders. We will also continue to develop new and innovative ways to keep the Plan relevant, viable and affordable for members and employers – current and future.