4.7 Contributions in Other Situations |
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Weekend Workers
Weekend workers are those employees who work 30 hours per week but are paid for 37.5 hours. Contributions should be deducted from their full earnings as they are credited with 52 weeks of contributory service as if they were working a full 37.5 hours per week.
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If the member's contributions are received as a lump sum after you have completed your annual member data collection for the year in which the temporary period of reduced earnings began, contributions will need to be submitted via a Lump Sum payment process in HOOPP Insight.
Interest will be charged on lump sum payments received more than 30 months after the beginning of the temporary period of reduced earnings.
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Involuntary termination or retirement settlements may affect a member's pension benefits. Contact HOOPP before finalizing any settlement that will provide the member with additional service or pensionable earnings to ensure it does not contravene the HOOPP Plan Text or legislation governing pension payments. HOOPP cannot be bound by agreements made between members and employers if the agreement does not conform with applicable legislation or the provisions of the Plan. In addition, if you are unsure about any of the types of payments outlined in the chart that appears above, contact
HOOPP for help.
If you are offering a severance package consisting of several different types of payments, for example, payment for a period of notice and then severance payments (paid out in the form of a salary continuance) until the member finds work, contributions are required on the pensionable portions of the
package as described earlier, regardless of the order in which the payments are made.
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