Primer Alert: Buyback Mailing

Sent to: Admin contacts and MDC contacts
Date: Feb. 21, 2008

Please note that newly enrolled HOOPP members will soon be receiving a letter in the mail about the changes in HOOPP’s buyback process.

As you are aware, starting on April 1, 2008, buyback quotes will be calculated based on a member’s age and earnings on the date full information is received by HOOPP as opposed to our previous method of calculation, which bases the cost of buyback on a member’s age and earnings at the time of enrolment and is fixed for two years.

With this change in calculation, quotes will also be valid for only 90 days – after which, the quote will expire and the member will require a new quote.

For more detailed information on the cost and purchase conditions of buying back service, please direct members to our Buy Back Service pages on hoopp.com.