Transfers into HOOPP

You may be able to increase your HOOPP pension by transferring in benefits you have in another registered pension plan. The transferred benefits will increase your contributory service, giving you a larger HOOPP pension.

Be aware that the service you are credited in HOOPP may not be the same as the service you built in your other plan, due to differences in Plan features.

However, the benefits you are credited with in HOOPP may not be the same as you had in your former plan, due to differences in Plan features.

HOOPP has reciprocal transfer agreements with a number of pension plans, as shown in our chart. Each agreement allows you to transfer benefits into HOOPP if you meet the transfer deadlines and other conditions.

If there is no reciprocal transfer agreement, HOOPP may accept the commuted value of your pension from the other plan, provided the other plan agrees to the transfer.

If you don't have pension benefits with another plan to transfer in, you may have RRSP or locked-in retirement account funds that can be used to buy back service, another way to increase your pension. To find out more, see the Buy Back Service pages, which include our buyback estimator.

Special situations

If you join HOOPP under a divestment – a sale, assignment, or disposition of business – or if your employer changes pension plans, HOOPP's usual individual benefit transfer rules don't apply to you.

Find out more about joining HOOPP in special situations.

RRSP implications

When service is transferred from one pension plan to another, it sometimes results in a past service pension adjustment (PSPA). A PSPA will reduce the amount you are allowed to contribute to an RRSP. If a PSPA applies to you, you will be notified before you make a decision on whether or not to transfer service into HOOPP.