Early retirement
Learn how the bridge benefit can help
Your options for early retirement
Learn how the bridge benefit can help
It’s never too early to start thinking about when to retire. And with HOOPP’s early retirement options, your next chapter may be just around the corner.
If you choose to retire before age 65, you will receive a monthly bridge benefit in addition to your HOOPP retirement pension. The bridge benefit is temporary; it is paid until you reach age 65.
You can retire as early as age 55, usually with a reduction in your pension. Your pension is reduced if you start collecting it at a younger age because you will probably receive it for a longer time. If you have 30 years of eligibility service or have reached age 60, your pension will not be reduced.
To learn more about your retirement options, visit When Can I Retire? You can also use the Pension Estimator on HOOPP Connect to help you estimate how much you will receive each month using different retirement dates and ages.
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Your options for early retirement
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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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