We are pleased to inform you that the Healthcare of Ontario Pension Plan (HOOPP) remains fully fundedat 121%. Despite a challenging year in the financial markets, the Fund had an investment return of 2.17% in 2018, bringing its net assets to $79 billion.
As you know, our funded status demonstrates our ability to deliver on our pension promise to all our members, including your employees. It is our most important yardstick for measuring the success and health of the Plan.
Our financial strength over the years has made it possible for HOOPP’s Board to keep contribution rates stable; these rates have been the same since 2004 and will be unchanged until at least the end of 2020.
You can learn more about HOOPP’s results by viewing our 2018 Year in Review and full 2018 Annual Report, both available at hoopp.com/annualreport.
These materials provide details on HOOPP’s 2018 highlights and our commitment to ensuring the Plan remains solidly funded. We continue to make investments in the Plan and in our systems so that we can be ready for the future while keeping costs and our fiduciary responsibilities in mind.
We hope you find these materials helpful and informative. We welcome any feedback you may have.
The Ontario Council of Hospital Unions (OCHU) is the hospital wing of the Canadian Union of Public Employees. Our 34.000 members in 70 local unions at 120 facilities bargain a central collective agreement with the Ontario Hospital Association and co-ordinate bargaining across the hospital and long term care sectors. OCHU is actively involved in patient and resident advocacy in many communities.