TORONTO – The Healthcare of Ontario Pension Plan (HOOPP) announced a commendable return of 9.7 percent for its fiscal year ending December 31, 2024. This performance illustrates the plan's robust strategies in managing its investments and adapting to the dynamic market conditions of the past year.

As of the end of 2024, HOOPP reported that its net assets had risen significantly to $123 billion, which marks an increase from $112.6 billion recorded in 2023. This growth reflects the effective management of its investment portfolios, particularly in the areas of public equities, private equity, and infrastructure assets.

HOOPP's public equities portfolio saw a stellar gain of 17.9 percent during the fiscal year. Furthermore, the private equity assets achieved a notable return of 12.7 percent, while infrastructure investments yielded a respectable 12.3 percent. These impressive returns underscore the plan’s diversified investment approach and its commitment to maximizing value for its members.

The pension plan also highlighted several key initiatives launched in 2024 aimed at enhancing the pension benefits for its members. One of the significant changes was the modification of the benefit formula for eligible active members who had participated in the plan during the previous year, 2023. In addition, the plan implemented a full cost-of-living adjustment for retired and deferred members, which aims to ensure that the purchasing power of their pensions is preserved in light of inflation.

Moreover, HOOPP addressed the future sustainability of its benefits by raising its pension liabilities in anticipation of an increasing life expectancy among Canadians. This adjustment is crucial as it acknowledges the reality that individuals are expected to live longer and, consequently, will draw from their retirement savings for an extended period.

As of December 31, 2024, HOOPP revealed that it held more than $40 billion in total government bond holdings. This conservative investment strategy is part of HOOPP's framework to maintain financial stability while providing secure retirement benefits to its members.

The information was first published by The Canadian Press on March 12, 2025, and sheds light on HOOPP's financial performance and strategic fiscal initiatives in a year marked by robust returns in various asset classes.