Employee required contributions to HOOPP are made by payroll deduction and apply to the current year of service. It is your responsibility as a HOOPP employer to calculate, deduct and remit employee required contributions. If your organization uses an external payroll services provider, it might be helpful to supply that organization with the information contained in this section of the manual. If you or your payroll provider have any questions, contact HOOPP.
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Factor 3: Year’s Maximum Pensionable Earnings (YMPE)
The YMPE is set each year by the federal government based on the average wage in Canada.
YEAR | YMPE |
|---|---|
2025 | $71,300 |
2024 | $68,500 |
2023 | $66,600 |
2022 | $64,900 |
2021 | $61,600 |
2020 | $58,700 |
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You should calculate the contributions of all HOOPP members according to the Universal Payroll Deduction Method in section 4.3 Calculating Employee Contributions and section 4.4 Calculating Employee Contributions - Incorporated Physicians. Required contributions and contributory service should be calculated each pay period. If a member's annualized earnings are above the YMPE, contributions must be made at both the high and low rate each pay period.
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