From: Bobby Argiropoulos, Stakeholder Outreach Manager , Pension Advocacy & Research at HOOPP (Healthcare of Ontario Pension Plan)
Re: HOOPP 2023 Annual Results
I’m pleased to let you know that, despite ongoing challenges in the economy in 2023, HOOPP stayed focused on keeping the Plan strong and pensions secure. For 2023, HOOPP posted an investment return of 9.38%. Our funded status was 115% as of the end of the year, meaning that for every dollar owed in pensions, the Plan had $1.15 in assets. This is one of the best indicators of the Plan’s ability to pay pensions to members, today and in the future. In addition to this strong performance, HOOPP was able to keep contribution rates unchanged for active members and provide full inflation protection for retired and deferred members. More information about our results can be found in HOOPP's 2023 Highlights. We take great pride in being the pension plan of choice for Ontario’s healthcare community, serving more than 460,000 members, including approximately 130,000 retired members who rely on us for their monthly pension.
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