HOOPP welcomes Ottawa-based homecare organization Carefor into the Plan
Expanding access to retirement security for healthcare workers
The Healthcare of Ontario Pension Plan (HOOPP) was pleased to begin the new year by bringing in Carefor Health & Community Services as a new employer in the Plan. Carefor is Eastern Ontario’s largest and oldest charitable, non-profit home health care and community support services organization, offering a wide range of healthcare services, supporting clients of all ages as well as their caregivers.
“We are delighted to welcome Carefor and its more than 1,400 employees into HOOPP,” said Rachel Arbour, VP, Plan & Policy Development. “This addition showcases HOOPP’s continued focus on providing access to retirement security across Ontario’s diverse healthcare sector. While we have long been known as the pension plan for hospitals, it’s important for all healthcare facilities in the province to know that HOOPP is available to them and their employees.”
In merging their existing pension with HOOPP, Carefor and its staff are becoming members of one of the largest and most respected defined benefit pension plans in Canada.
“Moving to HOOPP was an easy decision,” said Carefor CEO Steve Perry. “Belonging to a world-class pension plan is a cost-effective way to enhance our compensation offering to staff, which improves our ability to attract and retain talent. And, even more important, it gives our people the much-needed financial peace of mind that all healthcare workers deserve.”
The value of good workplace retirement savings plans is well understood by Canadians and Canadian employers across all sectors.
The 2022 Canadian Employer Pension Survey from HOOPP and Angus Reid found 85% of employers believe retirement benefits are a cost-effective way to reduce financial stress for employees and 78% agreed they are more of an investment in human capital than a cost to business. Meanwhile, the Canadian Retirement Survey from HOOPP and Abacus Data found 82% of Canadians agree that all workers should have access to a pension that guarantees a percentage of their working income in retirement. Taken together, these findings underscore the urgent need to widen access to good pension plans to all Canadians.
HOOPP continues to do its part by providing coverage within the healthcare sector of Ontario. HOOPP has more than 620 employers and typically adds 20 to 25 new employers every year. HOOPP is committed to providing retirement security to a large and diverse membership. This includes groups that often don’t have access to afford