Increase your HOOPP pension with a buyback
More service, bigger pension
Members often ask how they can maximize their pension. One way is to buy back eligible periods of service. More years of service means that you will receive a bigger pension when you retire.
During your career, there may have been times when you worked for a HOOPP employer but were not a member of the Plan or you may have taken a leave of absence from work, resulting in gaps in your contributory service. These are just two examples of the kinds of service you can buy back.
The cost of your buyback depends on a variety of factors, such as interest rates, your age, earnings, years of service, and the service that you are purchasing in HOOPP. You can buy back service at any time before you retire or terminate your membership in the Plan.
To request a buyback estimate which outlines the cost of your buyback and how much it would increase your pension in retirement, please contact Member Services. Please note, you must be a HOOPP member to request a buyback estimate.
Learn more
Visit Buying Back Service to learn more about the kinds of service you can buy back. You can also contact Member Services for a personalized quote.
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Increase your HOOPP pension with a buyback
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This document provides a simplified overview of HOOPP's benefits based on the terms of the HOOPP Plan Text at the time of publication. From time to time, HOOPP may amend the HOOPP Plan Text. In cases where the information provided in this document differs from that contained in the HOOPP Plan Text, the HOOPP Plan Text will govern. More details, including the full HOOPP Plan Text and a complete description of the Plan and its benefits, can be found on hoopp.com.
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