What is the enrolment process?
The process of Enrolment means submitting all the necessary information for your eligible employee so that when 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 For all eligible employees hired after your organization joined HOOPP, you must:
Provide the HOOPP Handbook to all eligible employees within 30 days of your employee’s hire date so that they understand how the Plan applies to them, as well as their rights and responsibilities under the Plan. Providing the handbook to all new employees, including part-time and other non-full-time employees who have the option of joining HOOPP, is an important part of your responsibilities as a participating employer and is required by law. The handbook provides key information about HOOPP for members, including their rights and enables part-time and other non-full-time employees to make an informed decision about whether to join the Plan.
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