In 2014, the Ontario government amended the Pension Benefits Act (PBA) to create a framework intended to facilitate the merger of a single-employer pension plan (SEPP) in the broader public sector into an existing jointly-sponsored pension plan (JSPP), or the conversion of a SEPP into a new JSPP, if specific conditions are met.
In 2015, the government passed the necessary regulations to support these transactions.
For several years, the Healthcare of Ontario Pension Plan (HOOPP) has been in discussions with a number of qualifying SEPPs about how to merge into HOOPP. These discussions are ongoing. HOOPP continues to work with these plan sponsors, along with the government and the Financial Services Commission of Ontario, regarding possible mergers into HOOPP under these provisions. We look forward to welcoming these plans into HOOPP in the future.