HOOPP – Healthcare of Ontario Pension Plan
Ontario
Full pension and early retirement
You get a full pension, with no reduction, at the first of these:
- Age 60
- 30 years of service
- Earliest retirement
- Age 55
- Retiring earlier
- Reduced by the plan's table of age and service, at most 30%
- Pension formula
- 1.5% of your average pay up to the CPP earnings limit (YMPE) and 2% above it, for each year of service from January 1, 2024. Earlier service has other rates
- Bridge benefit
- Until age 65, reduced with the pension if you retire early
- Increases after you retire
- 100% of inflation
What retiring early costs: an example
Someone joins at 35, is paid $85,000 a year and works until each age below, so their years of service are their age less 35. Amounts are a year, before tax, in today's dollars.
| Retire at | Years of service | Reduction | Pension | Bridge to 65 |
|---|---|---|---|---|
| 55 | 20 | 15% | $23,000 | $5,900 |
| 56 | 21 | 10.8% | $25,400 | $6,500 |
| 57 | 22 | 7.2% | $27,600 | $7,100 |
| 58 | 23 | 4.2% | $29,800 | $7,600 |
| 59 | 24 | 1.8% | $31,900 | $8,200 |
| 60 | 25 | None | $33,900 | $8,600 |
Retiring at 55 instead of 60 costs twice: 5 fewer years of service, and the reduction on what is left. Early retirement reduction explains both.
What to copy from your paperwork
To use your own numbers in the income timeline:
Your annual statement gives the pension you have earned so far, with your eligibility service, and the pension at key milestone dates. HOOPP's Pension Estimator, in HOOPP Connect, gives it for the dates you choose: enter two or more of them under 'The amounts my plan quotes', with the pension until 65 (with the bridge) and from 65. Leave its salary increase at 0%: this tool takes the amounts as today's dollars. Part time? Your eligibility service, which sets the reduction, may be more than your credited service.
Where these rules come from
- HOOPP Plan Text, office consolidation effective January 1, 2024
- HOOPP Handbook
- HOOPP approves inflation protection
- Last reviewed October 23, 2026.
These rules are simplified. Your plan's own estimate is the one to rely on; see the disclaimer.