Bridge Benefit

When you retire early, you can face a long wait until you are eligible to receive government pensions. HOOPP has a benefit that helps you bridge that gap.

Working in the healthcare sector is demanding – physically and emotionally. So, it's no surprise that many members opt out of the workforce before reaching age 65.

In recognition of this, HOOPP offers generous early retirement provisions, including an unreduced pension at age 60 and a bridge benefit that's payable from your early retirement date to age 65.

You'll receive a bridge benefit if you retire from HOOPP while aged 55 to 64. The bridge benefit is a monthly payment that supplements your basic lifetime pension until age 65 when full government pensions normally begin.

The bridge is intended to increase your basic lifetime pension to a full two per cent of your average annualized earnings for each year of contributory service.

In other words, the full bridge equals 0.5 per cent of your average annualized earnings up to the average YMPE for each year of contributory service.

The bridge benefit, as well as your basic lifetime pension, will be reduced – as shown in the Early Retirement Table– unless you have at least 30 years of eligibility service or are age 60 or older at the time of retirement.

The bridge benefit is payable until age 65 or your death, whichever occurs first.

It is not payable if you are receiving a HOOPP disability pension.