For retired HOOPP member Raymond Ogilvie of Mississauga, the cost of living adjustment (COLA) catch-up provided in 2015 is like icing on the cake.
When Raymond joined Toronto Western Hospital in 1967, he was grateful that the hospital even offered a pension plan. “That was one of the attractions of employment. At the time, many private industries weren’t offering pension plans,” Raymond said. Over a 29-year career, Raymond worked his way up to become the director of clinical biochemistry.
He retired in 1996. At first the transition wasn’t easy. “I missed the people very much at first, but you have to just accept retirement and make the most of it. Eventually, you work your way into a different life,” he says.
The income security provided by his HOOPP pension has helped make his retirement easier. It helps ensure that he can afford to travel often to visit family and friends in the U.K., since his wife passed away three years ago.
Coming into his 20th year of retirement, Raymond, 82, says he is especially thankful for HOOPP’s COLA, including the catch-up that was provided this past April. “This certainly helps to prevent our pension from being eroded by yearly inflation,” Raymond said. In fact, he was so delighted, he wrote to us to express his appreciation.
“As HOOPP pensioners, we are all indebted to those responsible for the sound investment decisions that have been made on our behalf over many years, leading to the stability and investment success of our pension plan,” Raymond said.
“Please keep up the good work - I can assure you it is much appreciated.”
Thank you, Raymond! We appreciate your feedback – and invite all our retired members to tell us what your HOOPP pension means to you. Send us an email at firstname.lastname@example.org or a letter, or visit us on Facebook or Twitter @HOOPPNow.