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HOOPP

Planning for Retirement

Planning for Retirement

Planning for Retirement

Members Life Changes Planning for Retirement

While retirement means different things to different people, it’s a time of change for everyone.

There are several things to consider when planning for retirement, but you don’t have to figure it all out on your own. Our pension experts are here to answer your questions and guide you towards making the right decisions for your personal circumstances.

Here are four key areas to consider and plan for prior to retiring with HOOPP:

When Can I Retire

Deciding when to retire

Different retirement dates, age and eligibility service can impact your overall HOOPP pension amount.

Learn more

Choosing a spousal option

Choosing a spousal benefit option

HOOPP’s survivor benefits are a key feature of the Plan and can help protect your loved ones.

Learn more

Government benefits

Government benefits

Together with HOOPP, these benefits can help form a significant portion of your retirement income.

Learn more

Taxes and your pension

Taxes and your retirement income

It’s important to understand the tax strategies to help you maximize your income in retirement.

Learn more

Tools to help you plan for retirement

Pension estimator

Get an estimate of your pension

One of the key advantages of your HOOPP pension is that you can predict what your monthly pension will be before you retire. Visit HOOPP Connect, your secure member site, and use the Pension Estimator to estimate your future HOOPP pension using your latest information and the retirement dates you choose. Estimate your pension today.

Survivor Benefits Guidance ToolPlan for the future with the Survivor Benefits Guidance Tool

The tool offers education and guidance to help you learn about survivor benefits available to your loved ones, after you pass away in retirement. Use the Survivor Benefits Guidance Tool on HOOPP Connect today.

Initiating your retirement

Initiating your retirement is as simple as letting your employer know that you’re ready.  Your employer will notify us on your behalf, we’ll take care of the rest! 

With the online retirement feature on HOOPP Connect, we’re offering our members a convenient new way to choose their retirement options. We’ve designed this online feature with you in mind, so once you’ve told your HOOPP employer you’re ready to retire, you can make your elections online simply and conveniently. Or, you can also choose the existing option to receive paper forms. Watch the video or learn more about our online retirement feature.

What to expect 

You’ll have a personal Member Services Specialist with you every step of the way to ensure you transition smoothly into retirement. Your Member Services Specialist will contact you to explain your pension options, answer any questions and guide you to making the right decisions for your personal situation. 

If you no longer work for a HOOPP employer

If you deferred your pension after leaving your HOOPP employer, it is your responsibility to contact HOOPP to notify us of the date you want to start receiving your pension. Your pension cannot be paid retroactively and can begin only after you provide HOOPP with all the information required. Contact our Member Services team to initiate your retirement.

Don’t forget!

Before you retire, sign in to HOOPP Connect to confirm that we have your current personal information such as your home address, email, phone numbers, and spousal and beneficiary designations.

Share your story! 

Excited for retirement? How are you planning to live the next stage of your life? You can share your story with us in the following ways: 

  • Send us an email. Your story may be featured in an upcoming member article. 
  • Share your experience with us on Facebook by tagging HOOPP. Your experience may inspire others to live their best retirement life!
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.