The Healthcare of Ontario Pension Plan (HOOPP) is riding high, posting a juicy 9.7% return for 2024 and swelling its net assets to $123 billion by December 31—up from $112.6 billion the year before. The plan, a lifeline for Ontario’s healthcare workers, cashed in big with a 17.9% surge in public equities, a 12.7% jump in private equity, and a 12.3% boost from infrastructure bets.
HOOPP didn’t just sit on its winnings. In 2024, it sweetened the pot for members—tweaking the benefit formula for active 2023 contributors and locking in a full cost-of-living bump for retirees and deferred folks. With Canadians living longer, the plan also padded its liabilities to keep pensions flowing for years to come.
By year-end, HOOPP’s war chest included over $40 billion in government bonds, cementing its status as a rock-solid player. For Ontario’s healthcare heroes, it’s a banner year that promises more security—and maybe a little extra syrup on their retirement pancakes