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9.1 Steps to Help a Member Retire

The following resources are available to members to help them make decisions about their retirement.

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Retirement Final Data information is required to be submitted immediately after the member's final payroll information is available so that HOOPP can calculate the member’s pension entitlement.

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(info) Never estimate final weeks and contributions. All information reported to HOOPP when the final retirement data is submitted is final and binding and is used by HOOPP to calculate a member’s pension. Errors in reporting this information will result in the payment of an incorrect
pension amount. If, however, the member's final weeks and contributions are known when the Retirement Notice is ready to be submitted, please submit the Retirement Final Data at the same time as the Retirement Notice.

For most HOOPP members, final weeks and contributions information cannot be determined until the member has completed their last day at work and final payroll information is available. This should not, however, delay you from initiating the Retirement Notice through HOOPP Insight.

When providing contributions data for a member who has received a retroactive pay settlement for a previous year, HOOPP contributions for each of the years relating to the settlement must be reported separately from regular contributions. Retroactive pay is considered to be an adjustment to earnings for a prior calendar year. Any adjustment to the current year is not considered to be retro for the purposes of calculating the contributions and should be reflected in the current year's contributions.

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