Important News from HOOPP
September 29, 2017: Good News! Healthcare of Ontario Pension Plan (HOOPP) Improvements to be implemented on January 1, 2018. Click below to learn more.
Every Ontarian deserves and needs a dignified and healthy retirement. ONA members have the benefit of a number of pension plans that serve them. This section of the ONA website lists these plans and information about them.
Health Care of Ontario Pension Plan (HOOPP) serves ONA members working in the hospital sector. It is fully funded and its investments are outperforming many others. ONA President Linda Haslam-Stroud and Director Dan Anderson are appointed as Directors to the HOOPP board.
Ontario Municipal Employees Retirement System (OMERS) serves ONA members working for municipalities. It is a defined-benefits plan that ensures a secure retirement.
Nursing Homes and Related Industry Pension Plan (NHRIPP) also ensures a secure retirement for ONA members working in the nursing homes sector.
Canadian Blood Services Pension Plan (CBSPP) is the pension plan for ONA members working in CBS and its clinics.
Victorian Order of Nurses (VON) Pension Plan serves ONA members working in this sector, which provides home care and other services to Ontarians.
Pension Resources and News
August 24, 2017: HOOPP has announced the following two plan changes effective September 1, 2017:
- Members working at more than one HOOPP employer
Changes to the rules for members working at multiple HOOPP employers simplify the enrolment process for employers and will provide more flexibility for members who work at more than one HOOPP employer. Under the new rules, a HOOPP member working part-time at multiple employers is no longer required to enrol in the Plan at all employers. Members can make enrolment decisions independently for each of their part-time jobs. Similarly, members who retire no longer have to terminate from employers where they are not enroled in HOOPP.
- Streamlining the past service purchase (“buyback”) process
In response to feedback, we are enhancing the buyback process to ease administration for employers. Employers will no longer have to provide information to HOOPP regarding past-service periods for buyback purposes or complete a Buyback Quote Request form on the employee’s behalf. Members who have inquiries regarding buying back service will now go directly to HOOPP Client Services and HOOPP will use known member data to determine the cost of purchasing a past-service period.
June 26, 2017: The OMERS Board of Directors has approved three plan changes at its June 2017 board meeting. The changes include:
- introduce certain time restrictions related to the payment of commuted values and buy-backs,
- restrict access to pensions for certain dual members, and
- permit employers with members working in foreign countries to suspend participation in OMERS.
Read more about these changes here.
May 8, 2017: HOOPP will be offering convenient annual statement webcasts that you can access using your computer or tablet. These sessions will demonstrate how your annual statement is one of the most important tools to keep you informed about your HOOPP benefits. Each one-hour webcast will be hosted by one of HOOPP’s Regional Managers. They will provide a detailed walk-through of your 2016 annual statement. They will discuss the following during the webcast:
- How to read your annual statement
- What your annual statement means and why it’s important
- Overview of the enhanced HOOPP Connect
Below, you’ll find a list of the scheduled annual statement webcasts. To sign up, simply choose a date and click on “Register.” You will be asked to provide your email address.
Annual Statement Webcast- Wed., Jul. 12, 2017, 1:00 p.m., Register
Questions? Please call HOOPP Client Services at 416-646-6445 or toll-free at 1-877-434-6677 between 8 a.m. and 5 p.m., Eastern Time, Monday through Friday.
April 13, 2017: HOOPP’s pre-retirement pension seminar dates (June – Aug) for sessions across the province have now been posted and are open for registration. HOOPP’s pension seminars and webcasts give you a chance to learn about your pension, understand its features and benefits, and find out how to plan for retirement. Click here for more information and to register for a session near you!
March 10, 2017: The Healthcare of Ontario Pension Plan (HOOPP) has a funded status of 122%, meaning it has $1.22 in assets for every $1 that it owes in pension benefits. Click here to learn more.
OHA Dental Plan for ONA Early Retirees
The Ontario Hospital Association (OHA) offers the OHA Dental Plan for ONA Early Retirees. Administered by Desjardins Insurance, the plan provides comprehensive dental care coverage to retired nurses aged between 60 and 64, and their eligible dependents.