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Talk to a Client Service Rep: 1-877-434-6677
Oct. 23, 2012
I am pleased to announce that HOOPP and the Government of
Ontario have reached a five-year agreement intended to ensure stability in the
funding of the pension plan. The agreement, which was negotiated in the best
interests of HOOPP's members, pensioners and employers, is reflective of the
Board's policies and approach as it relates to maintaining the price and
benefit stability of the Plan.
As part of the agreement, two important assurances were
given to the HOOPP Board:
in a solidly funded position. We have been at least 97% funded in each and every valuation
filed since 1979. We were 103% funded at the end of 2011, with that percentage
continuing to improve throughout 2012. As a result of this solid funding, HOOPP
is well positioned to meet its pension obligations to its members.
Today's agreement is consistent with the Board's objectives
and assists in ensuring both the sustainability of the Plan and HOOPP's ability
to deliver on the pension promise.
Talk to a Client Service Rep:
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