What is the enrolment process?
The process of Enrolment means submitting all the necessary information for your eligible employee so that they can join HOOPP and begin making contributions towards their retirement. Enrolment is mandatory for all full-time employees of a participating HOOPP employer and optional for all part-time and all other non-full-time employees.
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For more details on the full eligibility requirements, please review the Admin Manual / Enrolment section.
Why is enrolment important?
Aside from it being mandatory for all full-time employees – why exactly is this event important? Retirement security is one of the top worries for Canadians – and studies show that 71% of employees would forego a higher salary for a good pension. That’s why HOOPP works together alongside other government benefits such as CPP (Canadian Pension Plan) and OAS (Old Age Security) – to help members make the most out of their retirement.
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And finally, for you as the employer, encouraging your employees – including non-full-time and part-time, to join the pension can add value to your organization and yield higher employee satisfaction and help reduce staff turnover.
Employer Obligations
Now that we’ve learned about the importance of the event itself – let’s talk about your obligations when it comes to the enrolment of your employees. Within 30 days of your employees hire date you must:
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Inform eligible non-full-time employees that they have the option to join HOOPP on their date of hire, or on any subsequent date. Making the decision to join HOOPP is an important choice for your employees and is a valuable opportunity to save for their future retirement. It is your obligation to ensure this benefit is being offered.
Click here for some key talking points to help you talk to your employees about the benefits of HOOPP.
Immediately enroll all eligible employees. It is your responsibility as a HOOPP employer to enroll all full-time employees immediately upon hire and to begin deducting HOOPP contributions and remitting them to HOOPP.
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