Options for Non-Vested Members

If you terminate employment and are not vested (have not belonged to HOOPP for at least two years), you're entitled to a refund of the contributions you've made to HOOPP, plus interest.

You have two basic options for the refund:

• Take it in cash – The cash refund will be taxed as income at a rate that depends on the refund amount. See this chart for more information.



• Transfer your benefits out of HOOPP – You can move your funds directly, on a tax-sheltered basis, to either an RRSP or to another pension plan, if that plan will accept the funds. Because different pension plans have different features, the funds you transfer may not provide the same amount of service as you had in HOOPP.

If you take or transfer your money out of HOOPP, you may receive a pension adjustment reversal (PAR).

You have another option

If you are looking for work with a HOOPP employer when you terminate, you can choose the "decision pending option."