4.8 Remitting Contributions – Deadlines and Methods |
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Both member and employer contributions must be remitted monthly, except when members contributing for a leave or topping up contributions for a temporary period of reduced earnings/approved work schedule reduction choose to remit their contributions as a lump sum within twelve six months (temporarily extended from six monthsto 12 months for leave periods starting on or before December 31, 2021) after the end of the leave period. The deadline for making contributions after these periods is set out in the sections of this manual which describe these options (for Leaves and Layoffs, see section 5 . Leaves and Layoffs (Click Here), for Health Leaves, see section 7 . Disablity Disability Benefits (Click Here). In such a case, employer contributions should be made at the same time as the member contributions and must be submitted to HOOPP no later than 15 days after the end of the month in which the member has made its contribution.
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For example, if the employer participation effective date is on Saturday August 29April 30, 2022, but your organization will not have any required contributions deducted through payroll until Monday, September 1May 2, 2022, there will be no required member and employer contributions to submit for the month of AugustApril. The first monthly remittance to HOOPP for September May is due no later than 15 days after the end of the month in which the member has made their contributions (no later than October June 15, 2022). Please reach out to your Regional Manager or Employer Services Specialist to ensure that your employer account is updated accordingly.
Remitting payments – Procedures
At the end of each calendar month, all employee contributions and related employer contributions are due and must be remitted by electronic funds transfer (EFT) no later than the 15th of the month following the month the contributions were deducted. If the 15th of the month is a weekend or holiday, the contribution due date shall be the next business day after the 15th of the month.
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Important The submission of employee contributions and related employer contributions as well as your monthly remittance declaration to HOOPP should be done no later than the 15th of the month following the month the contributions were deducted. Remittance of contributions for a previous year adjustment, lump sum contributions or contributions made on retroactive pay are due 15 days after the information is submitted to HOOPP. |
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