How much will my HOOPP pension be?
Your pension from HOOPP is based on a formula that takes into account your earnings and the number of years you’ve been contributing to the Plan. Your monthly pension will begin in retirement and be paid for the rest of your life.
The HOOPP Pension Calculator can help you estimate how much you will receive when you retire.
Notes and Disclaimer
To estimate a projected HOOPP pension, you will need to use your:
- age at retirement
- years of contributory service
- years of eligibility service
- average earnings at retirement
Please note that pension amounts for members retiring after age 65 will likely be a little higher than estimates produced by this calculator. That is because the calculator does not reflect the impact of any applicable postponed retirement adjustments.
The calculator gives you an idea of what your future HOOPP pension will be based on the information you input. The more accurate the information you enter, the more meaningful your projected estimate will be. If the information you enter is incorrect, or if your future service and earnings turn out to be different than what you predict, your actual HOOPP benefit entitlement will vary from the projected estimate produced by this calculator.
The calculator assumes that for each year of contributory service, you receive 1.5% of your average earnings up to the average year’s maximum pensionable earnings (YMPE), plus 2% of your average earnings above the average YMPE. It does not reflect the increase to 1.75% of your average earnings up to the YMPE for service before Jan. 1, 2018.
For this reason, you should not use the HOOPP Pension Calculator to make final retirement decisions.
The estimates provided through this calculator do not convey any actual entitlement to benefits and are not binding on HOOPP. Actual benefit entitlements, based on verified data, will be paid in accordance with the HOOPP Plan Text and applicable legislation in effect at the time you retire.
Before you make a decision to retire, sign in to HOOPP Connect or contact HOOPP for a retirement estimate based on more accurate data.
When not to use this calculator
If you are no longer working at a HOOPP employer but have left your benefits in the Plan to collect at retirement; or if you are still a member of HOOPP but no longer contribute to HOOPP, sign in to HOOPP Connect and use the Pension Estimator to get an estimate based on up to date information directly from your record.
If you're a retired member interested in temporarily suspending your pension so that you can return to work and resume making contributions to HOOPP, you can get an estimate of how this will affect your benefits by completing a Re-enrolment Estimate Request form. Please contact us for a copy of this form.
This document provides a simplified overview of HOOPP's benefits based on the terms of the HOOPP Plan Text at the time of publication. From time to time, HOOPP may amend the HOOPP Plan Text. In cases where the information provided in this document differs from that contained in the HOOPP Plan Text, the HOOPP Plan Text will govern. More details, including the full HOOPP Plan Text and a complete description of the Plan and its benefits, can be found on hoopp.com.