Defined Benefit Pension Plan – Professionally Managed by HOOPP

Updated : Oct 10, 2019 in Articles

Defined Benefit Pension Plan – Professionally Managed by HOOPP


For some people, this is their future. A roll of the dice. A dream of good fortune based on chance. A sense of security, built on assumptions. For some people, this is what retirement looks like. So after raising a family and
sharing memorable moments in their homes, people could cash in to fund their retirement. It seems forty-nine percent of folks plan to do just that. But, what if it’s not enough? Or the moment they say “I’m retired” coincides with the exact instant the market bubble bursts. What next? Others are banking on inheriting money
from loved ones. Forty percent of people see this as
their golden ticket. But what if that windfall is too small
to survive on, or disappears before it even comes their way? Then there are those who, after a lifetime of working, are prepared to collect their government
pensions, only to find out they’ll get a fraction of what they were counting on. Believe it or not, eighty-seven percent of people are in this boat, not realizing this is meant to be a supplement to their retirement savings. And who doesn’t dream of winning the lottery? The truth is, the odds are like, three
million to one to hit the jackpot. Surprised? That doesn’t stop thirty-four percent of people from relying on a big win to retire on. So the question is whether your future
is at risk. Until now, saving money has come in the form of “buy one, get one free” deals. It’s been hard to save for the future, while covering day-to-day expenses, student loans, mortgage payments and bills. With retirement so far in the future, it’s kind of “out of sight, out of mind.” But, on the off chance you consider the future, between credit card swipes, how do you figure out how much money you’ll need? Or, how long it will take to hit your target? People are terrified they won’t have enough to live off, to the point they’re banking on their kids to cover their needs when they run out of money. Not you, right? So be ready, and not worried. Now’s the time to prepare for your future. A future that’s secure, with a DB pension. A pension that’s based on your earnings and years of service. With early retirement options, inflation protection, survivor and
disability benefits, even portable from employer to employer. And since it’s professionally managed by HOOPP, a pension plan that operates on a not-for-profit basis, it’s payable for life with no complex investment decisions or fluctuating markets to worry about and always looking out for your best
interests. Ontario’s healthcare workers:
have I peaked your interest? HOOPP is here for you – helping you build a better future and staying focused on the pension promise for over 50 years. So don’t leave your future to chance. Take control.

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