Introduction to HOOPP

HOOPP is a multi-employer defined benefit pension plan.

You and your employer both contribute to the Plan.

Your benefits are determined using a formula that takes into account:

• your contributory service
• your best five consecutive years of earnings
• average YMPE for the three years prior to your retirement

As a member, you earn contributory service when you are earning pensionable income at HOOPP participating employer and:

• contribute to the Plan
• make a past service purchase
• transfer in benefits from a previous employer
• or are receiving free accrual

When you earn contributory service, you are also credited with eligibility service. If you have an absence from work, for which you do not contribute you remain a member of the Plan, but acquire no contributory service or eligibility service.

Eligibility service is not part of the pension formula, but matters if you take early retirement. The more eligibility service you have, the smaller the early retirement reductions to your HOOPP pension will be should you retire before reaching age 60 or completing 30 years of eligibility service.

Read about out the benefits of membership in HOOPP