TORONTO, April 11 /CNW/ - The Healthcare of Ontario Pension Plan (HOOPP)
is reporting returns of 13.68% and net assets of $35.7 billion in its
2010 Annual Report, released today.
"HOOPP continues to be fully funded, providing security and peace of
mind for HOOPP members and pensioners," says HOOPP President & CEO John
Crocker. Thanks to that healthy funded status, contribution rates for
members and employers have not changed since 2004, and will remain the
same until at least the end of 2012, says Crocker.
On the investment side, "equities and long-term bonds were our strongest
performers in 2010," he says. HOOPP reported returns of 17.38% in
Canadian equities and 16.78% in U.S. equities. Canadian long bonds were
up by 17.35%, real return bonds were up 11.41%, universe bonds were up
9.54% and corporate credit was up 1.71%. HOOPP's real estate portfolio
had a solid year as well, returning 12.29%. Private equity posted a
9.7% return rate (approximately 16% before foreign exchange impacts).
"2010 was a special year for HOOPP," says President & CEO John Crocker.
"We celebrated our 50th anniversary, and rebranded ourselves as the Healthcare of Ontario
Pension Plan, a name which is more inclusive of our membership. We were
also named one of Canada's Top 10 Most Admired Corporate Cultures.
These excellent results, and the fact that we're fully funded, put an
exclamation mark on a tremendous year - and speak to the dedication and
professionalism of the HOOPP team."
The annual report, titled We are HOOPP, is posted on HOOPP's website, hoopp.com. Here is a link to the annual report: www.hoopp.com/annualreport
About the Healthcare of Ontario Pension Plan
Created in 1960, the Healthcare of Ontario Pension Plan (HOOPP) is the
pension plan of choice for Ontario's hospital and community-based
healthcare sector with over 370 participating employers and close to
260,000 plan members and retirees. HOOPP invests the assets of its
$35.7 billion Fund, administers the Plan and pays more than
$1.1 billion per year in pension benefits. The HOOPP defined benefit
plan is a formula based benefit that provides security and peace of
mind to Ontario's healthcare workforce.
HOOPP was named one of Canada's 10 Most Admired Corporate Cultures in
HOOPP is governed by a Board of Trustees with representation from the
Ontario Hospital Association (OHA) and four unions: the Ontario Nurses'
Association (ONA), the Canadian Union of Public Employees (CUPE), the
Ontario Public Service Employees Union (OPSEU), and the Service
Employees International Union (SEIU). The unique governance model
provides representation from both employers and unions in support of
the long-term interests of the Plan.
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For further information or to arrange interviews, please contact:
Director, Public Affairs
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