Today's economic landscape is burdened with uncertainty. With so much happening in the world, from political shifts to economic volatility, it's natural to feel concerned about financial security.

We have heard from our members that inflation and affordability remain top concerns, particularly the impact of higher prices on your quality of life.

While there is no shortage of disruptions, I want to emphasize that HOOPP remains focused on long-term success and protecting your pensions. HOOPP has a strong track record of navigating market volatility and is well-positioned to deliver on our pension promise to Ontario's healthcare workers for years to come.

The value of HOOPP's defined benefit pension plan is emphasized in times of market volatility. HOOPP's pension formula is based on your earnings, the number of years you have been contributing to the Plan and your age when you start your pension. This means the amount you receive in retirement is not impacted by market fluctuations like the ones we are now experiencing.

The Plan's funded status remains strong at 111%—the 16th consecutive year the Plan has been in a surplus—continuing HOOPP's long history of ensuring stability for our members. This means for every dollar owed in pensions, the Plan has $1.11 in assets.

Our investment approach is designed to guide us through challenging markets and protect the financial health of the Plan, safeguarding your pensions for the long term.

I am confident in our ability to weather the current uncertainty and deliver on our pension promise, now and in the future.

Sincerely yours,

Annesley Wallace
President & Chief Executive Officer

All numbers referenced are as of Dec. 31, 2024.