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Tip of the Day – Consistent Info Saves Time!
This is just a friendly reminder that, when filling out the last day of work on the Service, Earnings & Contribution form, please ensure that it matches the last day of work filled out on the Retirement Notice to avoid delaying the start of a pension.
When there are different dates on the two forms, there are delays. Various personalized communications statements – formerly known as either “system-generated documents” or “option forms” – have to be reissued, confirming the new retirement date and the pension options. This can double the paperwork the member needs to complete in order to receive his or her pension as of the desired date – and can create extra follow-up calls for you.
To ensure that a pension starts on time, please make sure that HOOPP also receives the Retirement Notice at least 90 days before the retirement date. For example, if a member plans to start receiving her pension on Nov. 1, 2007, then HOOPP should receive the Retirement Notice no later than July 31, 2007.
If there is less than 90 days’ notice, a member’s pension may start late – although the first payment will include any arrears owing.
Help us to make our members’ transition from the working world to retirement a smooth and easy one by remembering this deadline!
Summer 2007
