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HOOPP

Keeping the Plan strong so we can continue to support our members

At HOOPP, we are committed to providing you with the service, support and information you need. Thank you for your ongoing efforts to administer HOOPP when your employees need it most.

[Results] Helping members on leave grow their pensions during the pandemic in 2021

2021 continued service benefit

At HOOPP, we care about ensuring our members’ pensions are protected and continue to grow. In 2021, for the second year in a row, we provided continued service to members on unpaid emergency leaves and for the first 15 weeks of unpaid health leaves during the provincial state of emergency periods.

More peace of mind at no extra cost

Members were able to continue building their pension during their unpaid leave without worrying about making contributions. HOOPP’s strong performance over time enabled us to provide this benefit at no cost to members or employers. This support ensured qualifying members’ pensions continued to grow while they were managing personal challenges and unable to work.

Through your participation in HOOPP, your employees benefit from greater retirement stability, which lessens financial stress and is particularly important in difficult times. This helps you attract and retain top talent, reducing costs associated with turnover and building your reputation as a top employer of choice.

Nearly 50% of our employers had employees that benefited from this change. We want to thank you for all your work in providing us with the information we needed to grant the continued service to qualifying members. During the emergency periods, we were able to provide more than:

  • 6,500 members with this benefit
  • 164,300 days of continued HOOPP benefits 

This is one of the many ways that we add value to the HOOPP pension you offer to your employees.

What’s next?

In the spring, qualifying members will receive a letter from HOOPP that explains the benefit and informs them of the number of days of continued service they received. No action is required from you.

If you have any questions, please contact your Regional Manager.

HOOPP’s 2021 results are in

As a HOOPP employer, you are part of one of the most respected pension plans in Canada. Together, we provide your employees with a secure monthly income in retirement. While 2021 presented many challenges as a result of the ongoing COVID-19 pandemic, HOOPP stayed focused on providing members and employers with pension peace of mind.
HOOPP's 2021 annual results

Here are a few highlights from the year.

Strong performance

Despite volatile financial markets, HOOPP delivered strong investment returns, ending the year with a funded status of 120%. This makes the Plan more secure for the long term. The Plan’s strength also helped HOOPP provide a benefit improvement to eligible active members and a cost-of-living adjustment for retired and deferred members.

Continued growth

The number of members and employers in the Plan increased in 2021, compared to the year before. We now serve 624 employers and more than 400,000 members of Ontario’s healthcare community. This growth demonstrates the strength and stability of the Plan, as well as the value of this important benefit for healthcare workers in this challenging environment.

Progress on key initiatives

We made meaningful progress on initiatives that will continue to strengthen our organization, including enhancing risk management processes and systems, expanding our sustainable investing practices, and introducing a five-year equity, diversity and inclusion strategy.

To help you share this information with your employees, we’ve prepared a short notice, available in English and French, that you can post on your intranet. It will direct employees to our 2021 Highlights.

If you would like more detailed information about HOOPP’s results, you can view our 2021 Highlights.

Enhancing the member experience for your employees

At HOOPP, helping your employees transition into retirement is an important part of the service we offer and value we provide to your organization. To help HOOPP members prepare for a smooth transition into retirement, we have enhanced the educational resources and tools to help them make key decisions.

  • Enriched educational content: To support members on their retirement journey, we’ve added more in-depth information on our Planning for retirement page on hoopp.com. In addition, our educational member webinars include more guidance and helpful examples on important things to consider when preparing for retirement.
  • Simplified retirement planning resources: We’ve also launched a new Planning for Retirement booklet, introducing enhanced guidance so members can easily understand their options and make the right decisions for their circumstances.
  • New online retirement election feature: Eligible members can now easily and conveniently select their retirement options entirely online. Note: There is no impact to the employer process for reporting member retirements to HOOPP.

To help you share this information with your employees, we have prepared a sample communication that you can post on your intranet or distribute through email.

If you require any assistance or have any questions, please contact your Regional Manager.

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As a HOOPP employer, you provide your employees more than a lifetime pension. Watch and share about how HOOPP helps secure our members' futures.

Employer News: Bulletin Board

Stay informed with the Bulletin Board

Welcome to the Bulletin Board, a regular feature of Employer News, where you will find reminders, the latest updates and a sneak peek at what’s coming up.

Administration updates

2021 member data collection (MDC) is now complete

Thank you for completing and submitting your MDC data on time. Your hard work to meet the timelines allowed us to get Annual Statements out to members in a timely manner and HOOPP Connect, our secure member site, now has members’ updated information. Annual Statements and HOOPP Connect are key sources of personalized pension information for our members.

Additionally, HOOPP required your help to grant contributory service to eligible members on unpaid leaves during the 2021 declared state of emergency periods. Thank you for your efforts in the submission of the information when needed to grant these benefits to qualifying members. 

With MDC complete, the annual Statement of Account process is now underway. Your Employer Specialist will work with you to answer any questions you may have.

Ontario government special lump sum retention incentive

In March 2022, the Ontario government announced a special lump sum retention incentive of up to $5,000 for nurses employed in hospitals, home and community care and other specified settings. The retention incentive will be paid by employers in two installments and eligible part-time and casual nursing staff will receive a prorated amount. 

The lump-sum retention incentive is not considered pensionable earnings and no contributions should be deducted from these payments to members. This is because the payments are temporary in nature and are not a regular and integral part of the member’s earnings.

Member education webinars are back for 2022

The more your employees know about their pension, the more they will appreciate the value of HOOPP. Our popular member education webinars are underway for this year. These webinars are one of the ways we educate members about the features and value of their HOOPP pension. Our goal is to make sure our members have the information they need now to make good decisions for their future.

HOOPP offers three different educational webinars:

HOOPP overview: Understanding your pension
Members will learn more about their pension, along with key benefits and features of the Plan.

HOOPP Connect, your secure online member site
Members will learn how to navigate through HOOPP Connect, use the Pension Estimator and more.

Are you getting retirement ready?
Members will learn about planning for retirement, the value of their HOOPP pension, ways to maximize it and more.

Promotional materials are available to help you inform your employees about these events. Download the materials today.

Going digital with member communications

HOOPP is committed to serving our members, keeping them informed and providing them with a pension for life. Technology is playing an increasingly important part in that commitment, especially as the demand grows for quick and secure access to information. To meet the evolving needs of our membership, help keep the Plan affordable and support the environment, HOOPP transitioned to mainly digital member communications on February 1, 2022. Learn more about the move to digital communications.

Reminder: Leave of absence payment extension ended December 31

In April 2020, HOOPP introduced a temporary extension on contribution payments for leaves of absence to provide flexibility and support to members during the pandemic. This provided an additional 6 months (for a total of 12 months) after the end of the leave to make pension contributions. The extension applied to leaves that started on or before December 31, 2021. All contributions for new leaves of absence starting on or after January 1, 2022 will be due within 6 months from the end date of the leave period.

Visit the Employer Learning Centre for more information.

vgp-banner2 Exploring the business case for good workplace retirement plans

Retirement benefits are usually looked at through the eyes of an individual, but what insights can we gain from an employer’s perspective? HOOPP explores this in our latest commissioned report by Common Wealth, The Value of a Good Pension: The business case for good workplace retirement plans.

Learn more >

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.