As a member of HOOPP, you are helping to build a secure financial future. Your pension can also help bring financial security to your loved ones when you pass away after retirement.
If you have a qualifying spouse
Your qualifying spouse will be entitled to receive a portion of your monthly retirement pension, excluding the HOOPP bridge benefit, when you pass away.
When you retire, you have the option of providing your qualifying spouse with a survivor pension equal to 60%, 80% or 100% of your lifetime pension. The 60% survivor pension option comes at no cost to you. If you choose the 80% or 100% options, your pension will be reduced.
If you don’t have a qualifying spouse
Should you pass away before receiving 15 years of payments (180 payments), your pension, not including the HOOPP bridge benefit, will be paid to your beneficiary(s) for the balance of the 15-year payment period. A beneficiary can be any person(s) or organization(s) you choose.
The rules are different if you pass away before retirement. Learn more. You can also use the Beneficiary Designation Form to keep your information up to date.