Page 10 - documentation_package

Healthcare of Ontario Pension Plan (HOOPP)

The Healthcare of Ontario Pension Plan is a defined benefit pension plan. A defined benefit
pension plan pays you a monthly income that begins at retirement and is payable for your
lifetime. The amount of your pension is based on a formula that takes into account your
earnings and the number of years you’ve been contributing to the Plan.

Joining HOOPP

 Permanent Full-Time employees - participation in HOOPP is mandatory. Permanent
full-time employees must enroll in HOOPP immediately (upon date of hire or upon
transfer to full-time status).

 Part-Time and other non-full time employees have the option to join HOOPP* some
exceptions apply. Enrollment into HOOPP is optional for all part-time and other non-full-
time employees

* At this time the following employees do not qualify for HOOPP enrollment:

 Externally Grant-Funded Employees (Temporary Status)
 Post-Doctoral and Clinical Fellows
 Employees with Temporary Contracts example Students

If you work part-time at multiple employers who offer HOOPP you are not required to
enroll in the Plan at all employers. You can make enrolment decisions independently for
each of your part-time jobs.

As a member of the Plan, you can expect:

 A current contribution of $1.26 from your employer (subject to change) for every $1 you
contribute.
 Pension benefits based on a formula that takes into account your earnings and years of
service in the Plan.
 A lifetime pension when you retire.

For more information about the benefits of joining the HOOPP Plan, please visit
https://hoopp.com/members/join-hoopp. Here you will learn about:

 the HOOPP contribution rates and the HOOPP pension formula;
 the benefits of being a HOOPP member; and
 how your pension compares to other retirement savings options; and much more.