Net assets reach $132 billion, with nearly half invested in Canada, and membership now exceeding 500,000
TORONTO, March 10, 2026 (GLOBE NEWSWIRE) -- The Healthcare of Ontario Pension Plan's net assets grew to $132 billion at the end of 2025, up from $123 billion at the end of 2024. The Fund's net return was 7.7%, and net investment income was $9.7 billion. The Plan's funded status was 109% at the end of the year, underscoring its financial resilience and long-term ability to meet pension commitments to Ontario's healthcare community.
HOOPP's 10-year annualized net return was 7.8%, exceeding its 10-year benchmark of 5.9%, consistent with the absolute long-term returns required to meet the pension promise.
"Our strong results reflect the strength of our foundation, including our scale, disciplined investment approach, independent governance model and, most importantly, our people," said Annesley Wallace, HOOPP's President and CEO. "In an increasingly complex investment environment, we remained focused on prudent risk management and long-term value creation. Looking ahead, we are well positioned to protect the Plan's strength and continue delivering sustainable retirement security for Ontario's healthcare community."
Portfolio performance
The 2025 results reflect performance across a diversified portfolio. The Fund maintained significant exposure to public equities and fixed income, supporting liquidity, flexibility and disciplined risk management amid shifting market conditions. Returns were driven by public equities, reflecting resilient corporate earnings and more accommodative monetary policy later in the year. Fixed income delivered stable income and performed well as interest rates declined, with shorter-duration bonds benefiting from rate cuts by the Bank of Canada. Private markets generated positive, though more moderate, returns in a challenging valuation environment.
Investing in Canada
A strategic foundation of HOOPP's portfolio is its strong domestic presence. Approximately 49% of the Fund is invested in Canada across public equities, fixed income, infrastructure, real estate and private credit. This long-term investment approach supports economic activity at home while maintaining global diversification aligned with HOOPP's pension obligations.
"Our results reflect the strength of a globally diversified portfolio, with a significant portion invested in Canada," said Wallace. "We are proud to invest in the communities where our members live and work, while maintaining the global reach and discipline required to deliver on our long-term pension commitments."
Serving a growing healthcare community
HOOPP surpassed 504,000 members and 870 employers in 2025, reflecting continued growth across Ontario's healthcare sector. During the year, the Plan welcomed The Hospital for Sick Children (SickKids), achieving 100% participation across Ontario hospitals and expanded eligibility to incorporated physicians. In 2025, HOOPP paid out $4.1 billion in pension benefits, providing dependable retirement income and generating meaningful economic activity across Ontario.
Strategic progress
In 2025, HOOPP launched its 2030 Strategic Plan, a forward-looking roadmap focused on strengthening retirement security for Ontario's healthcare community in an increasingly complex global environment. The strategy advances HOOPP's vision of building a stronger financial future for members while maintaining a secure and sustainable Plan. The strategy sets out three priorities: maximizing value for members, improving the adaptability and resilience of the portfolio and evolving with Ontario's healthcare community. It is an ambitious roadmap that strengthens HOOPP's foundation today while preparing the Plan for the opportunities and challenges of tomorrow.
2025 financial highlights
- Net assets: $132 billion
- Net return: 7.7% (5.3% real return)
- Net investment income: $9.7 billion
- 10-year annualized net return: 7.8%
- Funded status: 109%
- Canadian investments: 49% of portfolio
- Carbon footprint reduced by 37% compared to 2021 baseline
- Membership: 504,000+ members, 870+ employers
- Pension benefits paid: $4.1 billion
- Cost-of-living adjustment (COLA): 100% CPI granted for eligible service
- Contribution rates unchanged since 2004: 6.9% on earnings up to the Year's Maximum Pensionable Earnings (YMPE) and 9.2% on earnings above the YMPE
The full 2025 Annual Report is available here.
About the Healthcare of Ontario Pension Plan
HOOPP serves Ontario's hospital and community-based healthcare sector, with more than 870 participating employers. Its membership includes nurses, medical technicians, food services staff, housekeeping staff, physicians and many others who provide valued healthcare services. In total, HOOPP has more than 504,000 active, deferred and retired members.
HOOPP is fully funded and manages a highly diversified portfolio of $132 billion in assets that span multiple geographies and asset classes. HOOPP is also a major contributor to the Canadian economy, paying more than $4.1 billion in pension benefits annually.
HOOPP operates as a private independent trust, and its Board of Trustees governs the Plan and Fund, focusing on HOOPP's mission to deliver on our pension promise. The Board is made up of appointees from the Ontario Hospital Association (OHA) and four unions: the Ontario Nurses' Association (ONA), the Canadian Union of Public Employees (CUPE), the Ontario Public Service Employees' Union (OPSEU) and the Service Employees International Union (SEIU). This governance model provides representation from both employers and members in support of the long-term interests of the Plan.
Contact:
Scott White, Senior Director, Public Relations
swhite2@hoopp.com
