Over the past 48 years, HOOPP has emerged as one of Canada’s biggest and most successful pension plans. We have attracted the participation of 321 healthcare employers across Ontario. Currently, close to a quarter of a million Ontario healthcare workers are depending on HOOPP for their retirement.

At the heart of our success sits a plan designed specifically to address the unique needs of the healthcare sector and its employees. In short, we have taken time to understand what our members want – and we have taken the steps required to deliver on their needs and expectations. Consider the HOOPP advantages:

Valuable benefits

The pension benefits provided by HOOPP are highly valuable. The Plan provides a lifetime retirement income based on a first-class benefits formula that takes into account a member’s earnings history and length of service in the Plan. The longer a member belongs to HOOPP, the larger that member’s pension will be.

Flexible retirement dates

HOOPP members can retire as early as age 55. Even better, the Plan offers a range of generous early retirement provisions, including:

• a bridge benefit that provides additional pension payments between your early retirement date and age 65, when Old Age Security and unreduced Canada Pension Plan benefits normally begin; and
• an unreduced pension if you retire after reaching age 60, or completing 30 years of eligibility service
• valuable early retirement reductions, based on age and service, if you retire before age 60

Inflation protection

HOOPP’s inflation protection feature can help preserve the buying power of a member’s pension over time – making every precious dollar count.

Changing employers

Members who move from one HOOPP employer to another can move their pension with them seamlessly – and without interruption. Given that the Plan is offered at 321 healthcare organizations across Ontario, there is a good chance that the next employer will be a HOOPP employer.

Linking service

We recognize that a growing number of HOOPP members work part time – and that many part-time employees work at more than one location. As such, the Plan allows members who work for multiple HOOPP employers at the same time to build a significantly bigger pension by contributing at each workplace.

Survivor benefits

We also recognize that the need for financial security and protection extends beyond the individual Plan member. We know that there are people who depend on our members for ongoing financial support. With this in mind, the Plan provides a range of valuable survivor benefits – whether the member dies before or during retirement.

Disability benefits

Members who are unable to work for health reasons may be able to build service in the Plan while they are off work – without having to make pension contributions. In the case of a total and permanent disability, those same members may qualify for an immediate unreduced pension.