Small Pension Rule

Under provincial legislation, HOOPP isn’t required to pay a pension on a monthly basis if the annual amount is less than two per cent of the year’s maximum pensionable earnings (YMPE).

Two per cent of the YMPE, an amount that changes annually, is $874 in 2007.

If your annual deferred pension will be less than this amount, you’ll receive its commuted value as a single lump-sum payment.