While retirement means different things to different people, it’s a time of change for everyone.

There are several things to consider when planning for retirement. Remember, we’re here to answer your questions and provide information to help you make the right decisions for your personal circumstances.

Choosing a retirement date

One of the biggest decisions you may ever make is when to retire. Understanding the role your HOOPP pension will play in your overall retirement landscape and how different retirement dates impact your pension is an important step in determining your retirement date. Learn more about what you should consider when choosing a retirement date.

Choosing a spousal benefit option

You can have peace of mind with HOOPP’s survivor benefits, which are a key feature of the Plan and can help provide financial security for your spouse or beneficiaries. Learn more about HOOPP’s survivor benefits and what you should consider when selecting a spousal benefit option.

Canada Pension Plan and other government benefits

In addition to your HOOPP lifetime pension, you may also receive Canada Pension Plan (CPP) retirement benefits and qualify for Old Age Security (OAS) and Guaranteed Income Supplement (GIS). Together, these pensions can help form a significant portion of your retirement income. Learn more about what to consider when deciding when to start your government benefits.

Taxes and your retirement income

You’ve worked hard for your pension. That’s why, before you retire, it’s important that you understand the impact of taxes on your retirement income. Learn about important considerations about taxes and your pension.

Find out what your pension will be

One of the key advantages of your HOOPP pension is that you can predict what your monthly pension will be before you retire. Visit HOOPP Connect and use the Pension Estimator to model different retirement scenarios personalized for you, using different retirement dates and future salary increases.

Preparing for retirement

Initiating your retirement is as simple as letting your employer know that you’re ready. 

What to expect

Your employer will notify us on your behalf, we’ll take care of the rest!

We will assign you a personal Retirement Specialist who will be there with you every step of the way to ensure you transition smoothly into retirement. Your Retirement Specialist will:

• Contact you to explain your pension and answer your questions.
• Mail you a retirement package that includes key forms and estimates of your pension amounts for the different payment options available to you.
• Help you complete the forms and guide you throughout the entire process.

Helpful tips

• Before you retire, please use HOOPP Connect to confirm that we have your current personal information such as your home address, email, phone numbers, and spousal and beneficiary designations.
• Use My Mailbox to view your personalized retirement package, submit required documents and communicate with us.
• If you also have pension benefits with non-HOOPP employers and would like to begin collecting them at the same time, you’ll also want to notify those employers.