HOOPP pensions are 122 per cent funded: report
Publication DateThursday, March 9, 2017 - 11:30am
OPSEU members in the 321,000-member Healthcare of Ontario Pension Plan (HOOPP) will be pleased to know that their retirement savings are doing very well indeed.
“The Fund has $1.22 on hand for every $1 we owe in pension benefits to retired and active members,” HOOPP CEO Jim Keohane said today. “We consider our true measure of success to be our funded status, as this demonstrates our ability to meet our current and future pension obligations…. The important value of a defined benefit pension plan is certainty for our members, knowing they won’t outlive their retirement income.This is why our strategy puts funding first.”
HOOPP released its 2016 annual report this morning. Click here to learn more.
HOOPP is a jointly-trusteed pension plan overseen by members of the Ontario Hospital Association (representing employers) and four unions, including OPSEU, representing health care workers at 510 employers around the province. HOOPP now manages $70 billion in assets on behalf of plan members.