Retirement
- Thomas Stachowicz (Deactivated)
For Plan Rules, please visit the Admin Manual: Link
Processing a member's retirement consists of 2 steps: Submit a Retirement Notice to initiate the member's Retirement package (approximately 3 months prior to the retirement date); then submit Retirement Final Data (after the member's final pay has been processed).
When submitting retirements for members on HOOPP Insight, there are 3 different ways you can do this:
- Manual Entry - enter each retirement individually by keying it manually on HOOPP Insight (ideal if you have 1 or 2 retirements to enter).
- File Builder (Excel Template) - download HOOPP's Events Final Data File template, key or copy retirement information onto the template and upload it to HOOPP Insight (ideal if you have a few retirements to enter).
- File Upload - build a file directly from your payroll/HRIS system that is in the file format specifications. (usually for a large number of retirements).
The three subcategories will walk you through each process step-by-step.
Government pensions typically begin when the member is age 65. The member must apply for all government benefits and, if taken early, they may be subject to a reduction. An early initiation of Canadian Pension Plan benefits will not impact a member's HOOPP benefit entitlement.
Canada Pension Plan (CPP) and Old Age Security (OAS) telephone number: 1 800 277 9914
"Rather watch? Click here to view How to Initiate Final Data Video "