Changing to part-time or full-time at a HOOPP employer
Your employment status, and any changes to that status, can impact your pension. Here's what you need to know:
Part-time and other non full-time employees
If you are hired as a part-time or other non-full-time employee, you are eligible to join the Plan immediately and start building your pension. The pension you will receive in retirement is based on a formula
that takes into account your earnings and service in the Plan. If you work for more than one HOOPP employer, you can decide to enrol in HOOPP at each of your part-time jobs to maximize your service and increase your pension benefit.
Once you
join the Plan, you will remain a valued HOOPP member for as long as you keep your benefit in the Plan and you will receive a secure pension for life.
Changing from full-time to part-time HOOPP employment
If you switch from working full-time to part-time at a HOOPP employer, you can continue contributing to the Plan to grow your HOOPP benefits. Alternatively, you can choose to stop making contributions. Please be aware that in doing so, you will not earn
any additional contributory service, eligibility service or any further benefits in HOOPP. The date you stop making contributions must be the same as your change in employment status.
If you decide to stop making contributions to the Plan as a result of moving from full-time to part-time employment, you must do so at all the employers where you were enrolled part-time. It is your responsibility to advise all your part-time employers
of your decision and ask each of them about completing a HOOPP member contribution waiver form.
Changing from part-time to full-time HOOPP employment
If you’re working part-time and switch to full-time employment, you must immediately enrol (if you were not enrolled already) and start making contributions based on your full-time hours and earnings. Your employer and HOOPP will work together to
make the necessary changes on your behalf.
Reduction of full-time hours
If you work full-time and your hours are temporarily reduced, you may be able to “top-up” contributions for the temporary period of reduced earnings. If contributions are topped-up, your service and contributions are based on your pre-reduction
earnings.
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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