Pensioner FAQs
Below is a list of frequently asked questions by HOOPP pensioners.
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Q. How much was the most recent cost of living adjustment?
A. All pensions – including deferred pensions – will be increased by 1.79 per cent effective April 1, 2008.
Q. What if I retired part way through the year – do I still get COLA?
A. Yes, but it will be prorated. For example, if you retired or elected a deferred pension halfway through 2005 – effective July 1, 2005 – you would have received half of the COLA applied April 1, 2006, or an increase of 0.805 per cent. The COLA you get in respect of 2006 (i.e., in 2007) will not be prorated.
Q. What happens if I change bank accounts?
A. To change the bank account where your HOOPP pension payment is deposited, please provide HOOPP in writing with your name, social insurance number, and signature. Our preference is for you to also include a void cheque. If you’re unable to send us a void cheque, please provide us with the name of your financial institution, its five-digit transit number, and your account number.
You can send all this information to us by mail or by fax.
Q. I’m thinking about starting my deferred pension. How do I go about that?
A. You write to HOOPP, quoting your social insurance number, and advising that you would like to begin receiving your pension.
Visit our Starting Your Deferred Pension webpage for more details.
Q. Will the Ontario Health Premiums (OHP) be deducted from my pension?
A. HOOPP is legally required to deduct OHP from pensions of $20,000 or more, for pensioners who live in Ontario. The amount deducted is set by the province of Ontario.
Q. How do I notify HOOPP of an address change?
A. To advise HOOPP of a change of address, you can leave a message in the HOOPP customer service representative mailbox. We’ll require your name, social insurance number, current address, new address including apartment number and the effective date of your move.
Visit our Contact Us webpage for contact info.
Q. Can I work for a HOOPP employer after I retire as a part-time or casual employee?
A. Yes, you can. However you cannot contribute to the Plan and receive a pension at the same time.
Q. If I go back to work after retirement, is there a way I can pay into HOOPP again?
A. Yes. To do this, you temporarily suspend your pension payments and resume HOOPP contributions at your new employer. This is called "re-enrolment."
For details visit Re-enrolling in HOOPP.
Q. Does taking CPP before age 65 affect my HOOPP pension?
A. No, your HOOPP benefits remain the same regardless of your other income.
Q. Do HOOPP disability pensions end at age 65?
A. If you are receiving a disability pension, you'll receive it as long as you meet all the requirements. If you reach age 65 and are receiving a disability pension, you'll receive it for life, and no longer have to provide medical evidence.
More questions?
If you have further questions regarding your HOOPP benefits, please contact our Client Services department at clientservices@hoopp.com or call toll-free at 1-888-333-3659, Monday to Friday 8 a.m. to 5 p.m. Please have your social insurance number available, but do not include it in an e-mail as this is not a secure channel.
