During 2007, HOOPP was able to set 2009 contribution rates at the 2008 rates. HOOPP provided a cost of living adjustment for pensioners equal to 75 per cent of the increase in the 2007 consumer price index. At year end, the Plan was 99 per cent funded.

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In 2007, the Plan achieved a total Fund return of 6.23 per cent, beating its benchmark for the 10th consecutive year.

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As of December 31, 2007, net assets available for benefits stood at $30 billion, up from $27.9 billion at year end 2006. This can be attributed to investment gains and positive pension cash flow (i.e., the total of contributions and benefit transfers flowing into the Plan exceeded the total of pension payments and benefit transfers flowing out of the Plan). For funding purposes, net assets available for benefits are adjusted based on a technique which uses a five-year average of previous year-end asset values, all extrapolated to the end of 2007. This adjustment helps to minimize the impact of short-term market volatility in any one year.

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