HOOPP: The value of a pension
HOOPP: The value of a pension
The Healthcare of Ontario Pension Plan (HOOPP) is a defined benefit pension plan. We provide a stable and reliable income to our retired members that starts in retirement and is paid for life. Our mission is to deliver on our pension promise to our more
than 400,000 healthcare workers in Ontario.
Our members know the value of a pension with HOOPP — they know they can count on us to be a key part of their life in retirement.
As a defined benefit or DB plan, your HOOPP pension is based on a formula. Members make regular contributions over the
length of their career and when they retire, they receive a defined benefit: a monthly income based on how much they earned and how many years they contributed to the Plan. Once members begin receiving their benefits they receive it for life —
they will not outlive their pension.
Our in-house team of investment professionals use a Liability Driven Investing (LDI) approach, pioneered by HOOPP, to help keep the Plan fully funded.
We are pleased to say that, following another strong year, the Plan remained fully funded at end of 2021. Learn more about HOOPP’s investment approach.
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.
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