Proudly serving healthcare workers since 1960

We have served the healthcare community for 65 years. We were established in 1960 with the participation of 71 hospitals. We have since grown to be the pension plan provider of choice for Ontario’s healthcare community with more than 700 participating employers and over 475,000 members.

Since inception, our mission has been to deliver on our pension promise. The Plan has maintained a more than fully funded status since 2009. This means that it has more assets than it owes in current and future pension benefits.

Explore our Annual Results

Check out our current and past Annual Results for more detailed information.

Enhancing retirement security for our members

We proudly support our members while striving to improve their retirement security. The Plan’s ongoing strength combined with our overall operating costs, which compare favourably to similar Canadian pension plans, has helped make it possible for HOOPP’s Board of Trustees to approve several enhancements to our members’ pensions.

See some key highlights:

Successful investment approach

Our Total Portfolio Approach (TPA), anchored by liability-aware investing (LAI), is an adaptive strategy designed to align liabilities with portfolio exposures. By using LAI within our TPA, our investment team can respond to market changes and proactively address economic conditions.

With a strong focus on liquidity and liability hedging, we can effectively manage risks and capitalize on emerging opportunities. Even through periods of market volatility, our long-term investment view, diversified portfolios and ability to reposition the portfolio allows us to effectively navigate changing markets. As a result, we can find opportunities in all types of environments, and be buyers when others are sellers.

Our approach gives us good visibility of our long-term liabilities and allows us to invest with the goal of paying pensions to members for decades to come. While we make investment decisions on short-, mid- and long-term horizons, we’re focused on the long-term health of the Plan, not annual returns.

Fully funded since 2009

The funded status compares the Plan’s assets to its liabilities (i.e. pension obligations) and is a key measure of the current financial health of the Plan. While the funded status can fluctuate from year to year based on several factors, HOOPP has been more than fully funded since 2009. We adjust our investment strategies to changing market conditions to guard against potential downturns.

For regulatory filing purposes, we report our funded status on a smoothed asset value basis. The asset smoothing approach we use gradually recognizes the Fund’s investment returns over 5 years, only partially recognizing the most recent annual return. This approach minimizes the impact of market volatility in any one year and helps the Plan avoid making decisions based on short-term market fluctuations.

In the graph below, the Plan’s net and smoothed assets have been charted against its pension liabilities over time.

Learn more about our current funded status in our latest Annual Report.

History of strong investment returns

Our track record of strong investment returns has helped keep the Plan fully funded and its contribution rates affordable, for both our members and their employers, and sustainable in the long term. HOOPP has been able to maintain the same contribution rates since 2004.

The table below shows investment performance for 2024 and 2023, as well as the 10-year and 20-year performance of the Fund.

*Benchmarks are established to measure the performance of investment strategies relative to the risk taken.
** Relative performance shown above is compared to the Fund return, net of total cost of investing. In the prior year’s MD&A, Relative performance was compared to the Fund return, net of direct investment costs.

Further contributing to the goal of meeting the pension promise, our investment strategies are implemented in a cost-efficient manner. Our total operating costs were $477 million, or 40 basis points of our average net assets available for benefits, an increase from 39 basis points in 2023. Based on publicly available information, HOOPP’s operating costs continue to compare reasonably to other Canadian pension plans.