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HOOPP

How to Join HOOPP

How to Join HOOPP

The Healthcare of Ontario Pension Plan (HOOPP) is one of the largest and most respected defined benefit (DB) pension plans in Canada. We are dedicated to providing a secure retirement income to more than 435,000 workers in Ontario’s healthcare sector.

More than 630 healthcare organizations choose to offer HOOPP. When your organization joins the Plan, you are offering your employees a reliable and stable pension in retirement, with features like early retirement options, inflation protection, portability across HOOPP employers, and survivor and disability benefits. 

While HOOPP has provided the pension for nearly all of the hospitals in Ontario for more than 60 years, more than half of its participating employers are other health-related organizations, such as:

  • Family Health Teams
  • Community Health Centres
  • Nurse-Practitioner-Led Clinics
  • Aboriginal Community Health Centres
  • Food services and laundry services organizations

See a full list of HOOPP employers.

Here’s what our employers say about being in the Plan:

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Lori Richey
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Executive Director, Peterborough FHT, CHRL

Having HOOPP has assisted us with our recruitment and retention efforts. The fact that you can transfer an existing pension to HOOPP has been fantastic as many of our employees have previously contributed and this allows them to continue the journey to a stable income upon retirement. I would encourage other Family Health Teams to explore this opportunity.

HOOPP benefits for employers

With HOOPP, you can offer a pension plan that:

1

Helps attract and retain top talent

You pride yourself on delivering quality healthcare and your people are the key ingredient. They are your most valuable asset and HOOPP is the most valuable benefit you can give them. Becoming a HOOPP employer enables you to help you attract and retain the staff that you and your organization need. Healthcare workers often move from one job to another over the length of their career. Offering the HOOPP defined benefit pension plan can play a key role in an employee’s decision to join one organization over another.

2

Reduces costs associated with turnover

A 2019 survey by Willis Towers Watson found that 67% of those in DB plans said their current employer’s retirement program is an important reason why they will stay.

3

Offers employees with a secure financial future and peace of mind in retirement.

Retired HOOPP members receive an annual pension based on their earnings and years of service. Since HOOPP is a DB plan, your employees will be able to predict how much they will receive before they retire, allowing them to select a retirement date with confidence and peace of mind. 

After 30 years in the Plan, a retiring member can generally expect to receive total pension income from HOOPP and government pensions equal to about 60% of their pre-retirement earnings. This income can provide security and independence in retirement. Your employees will also enjoy other valuable Plan features, including: 

*inflation protection is not guaranteed. Learn more about inflation protection.

4

Provides service and support for your organization

As a HOOPP employer, you will be partnered with a Regional Manager dedicated to your organization who will answer your questions, provide administrative support and educational material, and conduct presentations for your employees.

All of our administrative resources are available online through HOOPP Insight. Employers can use this system to securely process enrolments, terminations and retirements by instantly submitting information to HOOPP.

Our commitment to you continues beyond the approval process. Your Regional Manager will explain the requirements and begin the on-boarding process.

Good workplace plans create value for employers

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83% and 88% of employers said offering a defined benefit pension plan was extremely or very important, respectively, to the recruitment and retention of new employees.* A recent HOOPP-commissioned study by Common Wealth lays out the business case for workplace retirement plans. The results of the study suggest a “retirement first” approach to workplace benefits may be the key to businesses’ ability to attract and retain talent, and help lower financial stress.

> Download the findings

*Maru/Matchbox. Commissioned by Healthcare of Ontario Pension Plan (HOOPP), “Canadian Employer Pension Survey” (October 2021)

Become a HOOPP employer 

When you are ready to join, there are four steps to becoming a HOOPP employer:

1

Contact HOOPP

Our team will meet with you to discuss the benefits of joining HOOPP. They are available to deliver tailored presentations to explain the advantages of a defined benefit pension plan to your employees, management and Board of Directors.

2

Determining contributions

We will assist you in determining the contributions that would be required by your organization and how it can be included in your current employee benefits package.

3

Join the Ontario Hospital Association (OHA)

In order to join HOOPP, your organization must be a member of the OHA, the province’s healthcare advocacy organization. To learn more, please visit the OHA website.

4

Apply to HOOPP

We will work with you to complete the application forms required for approval.

Ready to become a participating HOOPP employer? Let’s talk!

If you have any questions or would like additional information, please contact our Business Development Manager at 1-888-333-3659 ext. 3771 or send us an email at HowToJoin@hoopp.com. 

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.