It was an unprecedented year that thrust healthcare workers to the frontlines in the fight against COVID-19. In recognition of the incredibly challenging environment, and supported by the strong performance of our Plan, HOOPP’s Board of Trustees has approved a pension benefit increase for active members.

Effective Apr. 1, 2021, members who were active in the Plan as of that date will receive an increase in their lifetime pension for any contributory service in 2018, 2019 and/or 2020*. That means eligible members will get even more from their HOOPP pension when they retire.

The benefit increase was made possible by HOOPP’s strong performance over time and our ability to successfully navigate the volatile markets experienced in 2020. With the Plan well-positioned, HOOPP is providing this increase as a sign of our support for our active members, who continue to lead our communities through the pandemic.

The Plan’s strength also allowed us to continue to provide a cost of living adjustment (COLA) for our retired and deferred members to help their pensions keep up with rising costs.

This benefit improvement builds on a similar one that HOOPP announced in 2017. The previous change applied to service before 2018 and this latest enhancement extends the increase to service through 2020.

Benefit improvement details

• Starting at age 65, eligible members will receive a larger lifetime pension than they would have prior to the improvement.^†
• Members who receive the benefit will be able to view their updated pension estimates including the benefit improvement, on HOOPP Connect after Apr. 1, 2021. 
• The benefit increase will also be reflected on their next year’s annual statement.

Delivering on our pension promise

HOOPP is committed to delivering on our pension promise and we are incredibly proud to continue serving and supporting our healthcare heroes.

For more information, please contact our Member Services team.


*Members who retired from active status in March 2021 and applied to start their pension on Apr. 1, 2021, are also eligible.
**Members working full time and receiving full contributory service in 2018, 2019 and 2020 and with earnings at or above the average YMPE as at Apr. 1, 2021.
^†Eligible members will receive 1.75% of their average earnings up to the average year’s maximum pensionable earnings (YMPE), instead of the current rate of 1.5% for any contributory service in the years 2018, 2019 and/or 2020. If they retire before age 65, they will receive the increased lifetime pension benefit. Until age 65, their total monthly pension will remain the same because there will be a corresponding adjustment to the bridge benefit.