My Pension

Inflation Protection

Every dollar counts – especially as we retire earlier and live longer. HOOPP pensions are partially protected against inflation by providing an annual cost of living adjustment, which safeguards the buying power of your pension dollar.

Contributory service built before 2006 receives a guaranteed annual cost of living adjustment (COLA) equal to 75% of the previous year's increase in the consumer price index (CPI), to a maximum CPI increase of 10%.

HOOPP’s Board of Trustees can increase the adjustment to 100% of the previous year's CPI increase - again to a maximum CPI increase of 10% - if funds permit, although this additional ad hoc adjustment isn't guaranteed.

For service acquired after 2005, the amount of COLA isn’t guaranteed. HOOPP's Board will vote annually on whether to provide any inflation protection on post-2005 service. Annual COLA increases will range from zero to 100% of the previous year's increase in the CPI, again to a maximum CPI increase of 10%.

HOOPP COLA increases are applied April 1.

If you have questions about HOOPP’s inflation protection, please contact Client Services.