** ARCHIVED ITEM **

Archived items are provided as an historical record.
This article may not reflect current provisions.

90 Days to Commence Pension Payments

If you are a deferred pensioner and considering starting your pension, avoid delays in your pension commencement and remember that HOOPP needs three months’ notice to begin making payments.

HOOPP pays pensions on the first of the month, so if you want your pension to start Dec. 1, 2007, you need to let HOOPP know by Sept. 1, 2007.

Just send us a signed letter, quoting your social insurance number (SIN) and let us know when you would like your pension to commence.

Important note

If you left your benefits in HOOPP and are considering working at a HOOPP employer, you should be aware that there is no longer a Plan provision that allows you to link your deferred pension to your current period of service.

However, if you rejoin HOOPP and are under age 55, there is another way to get your past service linked to your current service. You can have the value of your deferred pension transferred to a locked-in retirement account, and then use those funds to purchase your past service.

If you’re interested in exploring this option, contact HOOPP.

March 2007