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The Healthcare of Ontario Pension Plan (HOOPP) recorded a return of 11.28% in 2021 with a funding status of 120%, The Canadian Business Journal.

Toronto, March 16, 2022 (GLOBE NEWSWIRE) — The Healthcare of Ontario Pension Plan (HOOPP) today announced that it will generate 11.28% revenue in 2021 and increase its net worth from $ 104 billion at the end of 2020 to $ 114.4 billion. Did. The reserve status of the plan is 120%. This means that you have $ 1.20 in assets for every $ 1 you have to pay for your pension.

HOOPP’s annual rate of return for 10 years is 11.06% (as of December 31, 2021). According to the latest report (2020) from consultant CEM Benchmarking, HOOPP’s 10-year net income is the top 10% and the 10-year net value added is the second highest, based on the global dataset of 218 pension funds. rice field. The value-added return of HOOPP in 2021 was 2.69%, which was one of the highest in the history of the plan.

“HOOPP’s internal investment team has successfully overcome another year’s challenges in the economy associated with the continued impact of the pandemic,” said Jeff Wendling, President and CEO. “The result is strong profit and funding status that helps secure plans for the long-term benefits of Ontario health care workers.”

HOOPP provided strong returns across many asset classes, including public equity, real estate and private equity, but offset a slight decline in the fixed income portfolio. At the same time, HOOPP continued to evolve its investment strategy by increasing investment in infrastructure and innovation economies.

HOOPP has also been built and expanded on the basis of years of commitment to sustainable investment. The plan promises to achieve net zero carbon emissions in the portfolio by 2050. In addition, in 2021 HOOPP:

  • Introducing a $ 1 billion allocation to climate change equity
  • Was a founding member of Climate Engagement Canada. This is a joint engagement initiative focused on driving action at Canadian companies to achieve emission reductions.

These are just a few steps in a continuous multi-year approach to sustainable investment.

Wendling added: “HOOPP continues to deliberately and thoughtfully diversify our portfolio through assignments to a wide range of strategies, including building on success in the private market. Our strong performance record is current and future. We are in a good position to seek opportunities to protect our members’ pensions. “

Other highlights:

  • Member benefits: The HOOPP Board approved an improvement in profits in 2021 to increase the lifetime profits of active members. In addition, full adjustments to living expenses were granted in 2021 and 2022 to help retired members keep up with the cost of inflation.
  • Low operating costs: HOOPP continued to provide members with a high standard of service while operating efficiently. Annual operating costs are only 0.32% of assets, which helps keep members and employers to keep their contributions low and affordable.

Performance by asset class

2021% return
Fixed income -1.89 %
Equity 20.11 %
credit 4.67 %
Private equity 23.65 %
real estate 12.52 %
infrastructure 14.18 %

About Ontario Pension Plan Healthcare

HOOPP is attended by more than 620 employers and serves the Ontario hospital and community-based healthcare sector. Its membership includes nurses, medical technicians, food service staff, housekeeping staff, and many other staff who provide valuable healthcare services. In total, HOOPP has approximately 420,000 active, postponed, and retired members.

HOOPP operates as an independent private trust and is governed by a board of directors with sole fiduciary duty to fulfill pension promises. The Board is jointly governed by the Ontario Hospital Association (OHA) and four unions: the Ontario Nurses Association (ONA), the Canadian Civil Service Union (CUPE), the Ontario Civil Service Union (OPSEU), and the Services. United Nations of Employees (SEIU). This governance model provides representatives from both management and workers to support the long-term interests of the plan.

contact address:

James Geuzebroek, Senior Manager of Media and Public Relations, jgeuzebroek@hoopp.com

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Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c31862c3-741e-4f02-ab94-e3380e1ad9d4.


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The Healthcare of Ontario Pension Plan (HOOPP) recorded a return of 11.28% in 2021 with a funding status of 120%, The Canadian Business Journal.

Source link The Healthcare of Ontario Pension Plan (HOOPP) recorded a return of 11.28% in 2021 with a funding status of 120%, The Canadian Business Journal.

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