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Aug 18, 2016 · OMERS's formula is 1.325% x Best Five up to AYMPE and 2% x Best 5 over the AYMPE. So as far as pension amount goes, HOOPP > OMERS. *BUT*, HOOPP provides indexing at 75% of CPI and OMERS provides 100% indexing. OMERS also provides better spousal benefits. Thanks for the reply, your correct about the 1.325%, (2% until 65 due to the bridge benefit ...
Mar 5, 2019 · HOOPP sent me a plan termination package and asked me what would I like to do with the money with them, so I chose to deposit entire amount to my personal RRSP with Scotia. In the form, it shows approx. 60% can be direct transferred into my RRSP without impacting my contribution room, but as for the rest, I had to confirm that I had enough room for it.
Jun 16, 2016 · Hoopp has the same enrollment criteria for all members - part time need x hours worked before they can enroll, full time can enroll immediately. Vesting is immediate (used to be 2 year waiting period) Since you're part time, you'll need to meet that min criteria, but make sure your intent is known by HR to sign you up when you meet it.
Mar 13, 2018 · This amount changes everyday based on posted interest rates you’d have to request it from HOOPP, and it takes a couple weeks to get it. If your asking to get your HOOPP paid out while remaining employed the answer is no. The CV on three years wouldnt be worth it. Your an RN take some OT at double time.
Mar 23, 2017 · HOOPP and RRSP limit. My wife and I recently switched our pensions (5 figure amount, accrued over < 2 years) from HOOPP into LIRA and RRSP accounts. I had a couple specific questions regarding the RRSP contribution limits after the transfer: 1) As I understand HOOPP accounts for specific PA and as a result the RRSP limits are lower.
Nov 8, 2020 · His payment into HOOPP up until now has been approximately $6009.90 (2020 YMPE = $58700, so $58700*0.069 + ($80000-$58700)*0.092). The employer contributes 126% which means the HOOPP employer contributes approx. $7572.47. Total contributions is $13582.37. Income after contributions (before tax) is $66417.63.
Aug 13, 2013 · Yes, for members of HOOPP who joined since the rules changed last year, vesting was automatic. I enrolled just shy of 2 years ago so the only option available to me is to take cash or transfer to RSP (or transfer to another pension plan, but since I'm returning to school, this is not an option). Reply. Reply with quote. Aug 15th, 2013 5:41 pm ...
Aug 30, 2018 · According to my final report from HOOPP (after 15 years of contribution) I have 3 choices: 1- to keep the money there and either retire earlier or at 65 ( pension vary from about 1200$ and a bridge of 100 $ starting my retirement at 55; 1750 $ and a bridge of 150$ starting at 60 or 1750 $ no bridge starting at 65); 2- to transfer a maximum of about 200,000.00 $ into a LIRA account and the rest ...
May 17, 2020 · Saskatchewan Pension Plan would be a different story because, although it is a pension plan, it's not deducted from your payroll* (*unless your employer participates in the SPP), so you still need to claim a tax deduction for your SPP contribution. Edit: Yes, you do enter it in box 52 of your T4, which will make it populate at line 30600.
Feb 21, 2018 · We received the letter from HOOPP, and have about 5 weeks to decide. If you were happy with the person you used to assess your letter, could you PM me their contact? Wife is being offered $17k per year at age 55 (42 now), $20k at 65, or a CV of $387k ($177k to LIRA, $210k cheque.
