We are pleased to inform you that HOOPP experienced another successful year in 2017. Strong investment returns helped maintain our funded status even as we improved Plan benefits. We also took important steps to plan for our organization’s future.   

The Plan’s assets grew by approximately $7.5 billion to $77.8 billion, representing a return of 10.88%. There was strong growth across all our asset classes, with equities providing a significant boost. 

As a result, our funded status remained at 122% in 2017. For every $1 we owe in pension benefits to every current and future retired member, the Fund has $1.22 in assets. In other words, we have more than enough assets to meet our current and future pension obligations. 

Our surplus has an important purpose. It provides a cushion in the event of a big decline in the economy and financial markets, like the kind the world experienced in 2008. In 2017, our surplus made it possible for our Board to make significant improvements to the Plan’s benefits. These changes are designed to increase pensions for members who will retire in the years to come and provide increased survivor benefits for spouses when members pass away in retirement. We are proud that our Plan is able to make improvements at a time when saving for the future is a challenge for many Canadians. 

In addition to our benefit improvements, we prepared extensively for the full launch of our new pension administration system. The design and implementation of this new platform have been an enormous undertaking, more than five years in the making. In early January, our enhanced pension administration system and online tools went live for all of our members, as well as our more than 500 employers. Members now have access to a variety of enhanced online interactive tools and resources via HOOPP Connect that will provide up-to-date information about their pensions. We are confident that this upgrade to our technology will allow us to deliver better service, provide more flexibility, and manage our costs more efficiently as we continue to grow in the future.  

We invite you to learn more about our 2017 results and how HOOPP is putting members first. You can go to hoopp.com, where you’ll find our:

• 2017 Year in Review
• 2017 Annual Results video
• 2017 Annual Report 
• Investment FAQs 

Jim Keohane
President & CEO

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