This section highlights considerations for incorporated physicians regarding earnings, service, and contributions.
Employment earnings
An incorporated physician’s employment earnings impact the contributions they make to the Plan as well as the pension benefits that can be accumulated for retirement. It starts with setting baseline earnings for their first year of membership through their MPC’s HOOPP participation agreement. Every year, they’ll contribute on their employment earnings, subject to their upper and lower earnings limits, and their baseline earnings will change every year based on their annualized earnings from the year before.
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For more details about these aspects and calculation examples, please see section 4.4 Calculation Employee Contributions – Incorporated Physicians of the Employer Administration Manual.
Tools to Support You
To support incorporated physicians, we have provided a Physician Calculator tool that will help with the following:
Determine the upper and lower earnings limits
Calculate monthly HOOPP contributions based on their provided employment earnings, subject to their upper and lower earning limits
Understanding the adjustment to total weeks (contributory service) that can result from having employment earnings below the lower earning limits, and finally,
Provide an annual summary of the estimated weeks, contributions, and annualized earnings in support of the annual Member Data Collection (MDC) process.
Prior to May 2025:We will share the Physician Calculator with you as part of your onboarding.
The Physician Calculator will become available on HOOPP Insight later this year – stay tuned for more information!
After May 2025:You can find the Physician Calculator in the ‘Tools’ section on the HOOPP Insight home page.
Some important tips:
Get familiar with the features of the tool by reviewing the instructions tab in the tool. There, you’ll find an overview and basic instructions on using the calculator
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