The Healthcare of Ontario Pension Plan recently surpassed 400,000 plan members, more than doubling since 2013 when it passed the 200,000 member mark.
It added 12,000 new members following the merger of five plans with HOOPP in 2019. In all, membership grew by an additional 100,000 members since 2015 due, in part, to the growing health-care sector and more employers in Ontario offering the plan to their employees. HOOPP also made it possible for part-time workers to join the plan immediately, without a waiting period.
Currently, the HOOPP’s membership includes more than 250,000 active members, 115,000 retired members and 35,000 deferred members. The average new annual pension is $29,700. The plan is fully funded, and has a diverse membership, with 82 per cent of members identifying as women, 34 per cent of active members working as part-timers and the largest cohort of active members currently aged 30 to 34.