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 12 months (temporarily extended from six months) 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 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.
Monthly Contribution Declaration Report – Procedures
Submit your monthly remittance declaration to HOOPP via the Remittance process in HOOPP Insight. The submission of the remittance declaration report should be done at the same time that you submit your payment.
New Participating Employers Joining HOOPP at the End of the Month
Typically, new participating employers are required to submit a monthly remittance of required member and employer contributions for the month in which their participation in HOOPP begins. If the employer participation effective date lands at the end of the month, there may not be any required member or employer contributions to submit for month when the organization joined HOOPP.
For example, if the employer participation effective date is on Saturday August 29, but your organization will not have any required contributions deducted through payroll until Monday, September 1, there will be no required member and employer contributions to submit for the month of August. The first monthly remittance to HOOPP for September 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 15). 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.
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 or contributions made on retroactive pay are due 15 days after the information is submitted to HOOPP.
Remitting on time is important because Ontario pension legislation requires that contributions deducted in one month be deposited in the pension fund within 30 days of the end of the month in which the deductions were made. To meet that deadline, HOOPP needs your contributions no later than the 15th of the month. Failure to do so will result in penalties, interest and/or late payment fees. This is in accordance with HOOPP’s Agreement and Declaration of Trust and the PBA. When you do not remit HOOPP pension contributions or remit pension contributions late, the benefits of all Plan members are adversely affected. HOOPP has a statutory obligation to notify FSRA when an employer does not remit contributions to HOOPP within 30 days of the end of the month for which the contributions were deducted or received.