Leaving My Employer
Few people today stay with one employer for their entire career. Yet with a defined benefit plan like HOOPP, building service is a key to building a larger benefit. That’s why HOOPP’s portability features are so important.
Such transfers can be risky
Moving from one HOOPP employer to another?
You can take your pension with you when you move from one HOOPP employer to another HOOPP employer.
Finding a HOOPP employer isn’t difficult – more than 340 healthcare employers across Ontario, including most public hospitals, participate in the Plan.
Looking for work? Consider "decision pending"
Under this option, your benefits are frozen in HOOPP for up to six months while you look for a new job. Find out more about decision pending.
Other options
If you’re not moving to another HOOPP employer, the options available to you will depend on whether you are:
Under HOOPP, you are vested -- eligible to receive a pension benefit -- after you have belonged to the Plan for two years.
Remember: if you belong to the Plan at more than one HOOPP employer, you can’t receive termination benefits from HOOPP until you have terminated at all of them.
