Changing Employers
Few people stay with one employer for their entire career. It is not uncommon for healthcare workers to work at several employers and because HOOPP is a multi-employer plan, it’s easy for members to build their HOOPP pension as they move from one HOOPP employer to the next.
Teresa Adair has been a HOOPP member since she was 20.
“I have changed employers twice in the last few years and [the employers] being part of HOOPP was one of the key benefits attracting me,” she says. “I am fortunate to have been able to maintain my membership.”
Member Fergus Griffin agrees and says, “I know that in my own case and in the case of other members I have spoken with, you can take comfort in the flexibility that members are afforded in being able to move to another healthcare institution without interruption to building towards your retirement goals!”
Finding a HOOPP employer isn’t difficult – more than 360 healthcare employers across Ontario, including most public hospitals, participate in the Plan. If you’re thinking about moving from one HOOPP employer to another, contact HOOPP to learn more.
» Joining a new HOOPP employer
» Leaving a HOOPP employer
Reciprocal Agreements
New job? Need to transfer to another plan? The Major Ontario Pension Plans (MOPPs) Portability Agreement covers HOOPP and 14 other pension plans. Under this agreement, benefits can be transferred to and from any of the following participating plans:
- Colleges of Applied Arts and Technology (CAAT) Pension Plan
- Electrical Safety Authority Pension Plan
- Hydro One Pension Plan
- Independent Electricity System Operator (IESO) Pension Plan
- Ontario Municipal Employees' Retirement System (OMERS)
- Ontario Power Generation (OPG) Pension Plan
- Ontario Public Service Employees' Union Pension Plan(OPTrust)
- Ontario Teachers Pension Plan
- Providence Centre Pension Plan
- Public Service Pension Plan (Ontario Pension Board)
- Ryerson University Retirement Pension Plan
- St. Michael's Hospital Pension Plan
- St. Joseph's Health Centre Pension Plan - Ontario
- Workplace Safety & Insurance Board Employees' Pension Plan
HOOPP has separate reciprocal transfer agreements with:
- Hospital for Sick Children Employee Pension Plan
- Pension Plan for the Employees of the Ontario Public Service Employees Union (OPSEU)
The parties to these agreements can cancel and withdraw from them at any time.
