We are pleased to announce that member and employer contribution rates will remain stable until at least the end of 2027.

This decision by HOOPP's Board of Trustees was supported by the overall health of the Plan, as reflected in our strong funded status of 111% at the end of 2024. In other words, the Plan has $1.11 for every dollar owed in pensions. This is one of the most important indicators of a pension plan’s health and ability to pay pensions, today and in the future.

Why is this important?

HOOPP’s contribution rates are among the lowest of all major Canadian pension plans and have not changed since 2004, which helps us keep the Plan affordable for our members and employers. This is especially relevant, as new research shows that Canadians report significantly higher financial well-being during their working years if they have a pension, and having a pension in retirement improves people’s mental, physical and social health overall.

Keeping contribution rates stable helps us support members with remarkable value for the cost and provide more Ontario healthcare workers with a secure pension in retirement.

What are contribution rates?

Contribution rates determine how much members and employers contribute to the HOOPP Fund. The rates are set by our Board and can be adjusted periodically. Member contributions are based on a formula that considers how much they earn and the current contribution rate. The contributions are then invested through the HOOPP Fund and go toward paying pensions.

Learn more about how your pension works.