Pension Calculator Disclaimer & Notes
HOOPP is a defined benefit pension plan. To estimate a projected HOOPP pension, four key numbers are needed:
- your age at retirement
- your years of eligibility service
- your contributory service
- your average annualized earnings at retirement
(Links to the terms listed above, and others, appear as you enter information.)
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 is, 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 entitlements will vary from the projected estimate produced by this calculator.
For this reason, you should not use the calculator to make final retirement decisions.
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 still belong but no longer contribute to HOOPP, please contact your employer or complete a pension estimate request form and forward it to HOOPP.
If you're a retired member interested in temporarily suspending your pension, returning to work, and resuming HOOPP contributions, you can get an estimate of how this will affect your benefits by completing a re-enrolment estimate request form.
You should know:
- For purposes of calculating pension estimates, this calculator assumes you are vested once you have two years of eligibility service, or reach age 65, whichever occurs first. (Members are automatically vested once they reach age 65.)
- Pensions for members retiring after age 65 or with pre-1966 service will likely be a little higher than estimates produced by this calculator.
- Pensions for members who earn more than $65,000 and have purchased past service may be higher than estimates produced by this calculator.
This calculator provides pension estimates to help you plan for your retirement. Actual benefit entitlements, based on verified data, will be paid in accordance with the Healthcare of Ontario Pension Plan Text and applicable legislation in effect at the time you retire.
Before you make a decision to retire, contact your employer or HOOPP for a retirement estimate based on more accurate data.
The estimates provided through this calculator do not convey any actual entitlement to benefits and are not binding on HOOPP.
I have read and accept the terms of the Disclaimer & Notes.
