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HOOPP

Advocacy at HOOPP

Advocacy at HOOPP

We can make retirement more affordable

As a Canada-model defined benefit (DB) pension provider, we understand and appreciate how much a pension can help Canadians save for retirement. We also recognize that retirement costs are on the rise, and more than half of Canadians don’t have access to any form of collective savings arrangement.

Why it matters

Without adequate retirement savings, Canadians run the risk of experiencing financial pressures in retirement and will have to rely more heavily on taxpayer-funded support.

Knowing the challenges Canadian workers face guides our efforts in advocating for more affordable retirement options for all Canadians, to help them live better today and be better prepared for tomorrow.

Government benefits for elderly Canadians are projected to grow from $51 billion in 2018 to $67 billion in 2023.

Our approach

We understand how difficult it can be to save and prepare for retirement on your own. To help, we are:

  • providing unbiased information and research about retirement and pensions,
  • highlighting public demand for more accessible and affordable retirement programs for every Canadian,
  • driving to consensus by engaging governments and stakeholders in constructive discussions to identify practical solutions, and
  • advocating for regulatory modernization and innovation in the pension industry.

Providing unbiased information, highlighting public demand for action, driving consensus by engaging stakeholders, and advocating for innovation in the pension industry

The five retirement value drivers

In a recently commissioned study, we identified five value drivers that can help Canadians get more out of every retirement dollar. When these drivers are used in combination, the average individual could see their cost of retirement reduced by almost $900,000.

The five drivers are:

Saving

Start saving early and regularly and don’t dip into those savings

Fees and costs

Lower your fees and costs and keep more of your money working for you

Investment discipline

Avoid the bad behaviours that plague many do-it-yourself investors

Fiduciary governance

Fiduciary governance lets savers know that their interests are put first

Risk pooling

Pooling risk across a broad group makes the risk more manageable

The first three value drivers can be applied by any individual saving for retirement, as well as anyone in a collective savings arrangement. The last two drivers are generally more of a benefit of collective savings arrangements, but considering the impact they can have, there is clearly work required to make them more accessible to all Canadians. 

When used in combination, the five value drivers can significantly enhance your ability to save for retirement. To read more about the five value drivers, visit How to save for retirement. Please consult a financial professional to determine how these drivers can work for you.

What's new

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Research

Read our research to learn more about retirement security and the value of efficient retirement solutions for Canadians.
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Get involved

Learn more about The Pension Collective, a community that cares about Canadians’ retirement security, and consider joining today.
icon-magnifying-glass

Research

Read our research to learn more about retirement security and the value of efficient retirement solutions for Canadians.
icon-magnifying-glass

Get involved

Learn more about The Pension Collective, a community that cares about Canadians’ retirement security, and consider joining today.
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.