We are pleased to announce that member and employer contribution rates will remain stable until at least the end of 2026.

This decision by HOOPP's Board of Trustees was based on a number of factors, including the continued strength of the Plan and our operating costs. The overall health of the Plan is reflected in our funded status, which remains very strong at 115%, meaning that for every dollar owed in pensions, it has $1.15 in assets.

Why is this important?

Our Board strives to keep contribution rates stable: they are among the lowest of all major Canadian pension plans and have not changed since 2004. This helps us keep the Plan affordable for our members and employers, which is especially important as cost of living continues to be a concern for many Canadians.

Keeping contribution rates stable for more than 20 years has enabled us to offer remarkable value for the cost and provide more Ontario healthcare workers with a secure pension in retirement.

What are contribution rates?

They are rates that 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.