Healthcare of Ontario Pension Plan earned 9.7% in 2024

The Healthcare of Ontario Pension Plan says it delivered a return of 9.7% for its 2024 fiscal year.

HOOPP says its net assets totalled $123 billion for the year ended Dec. 31, up from $112.6 billion in 2023.

It says its results for the year included a 17.9% gain for its public equities portfolio, along with returns of 12.7% for its private equity assets and 12.3% for infrastructure assets.

The plan highlighted initiatives in 2024 that it says improved members’ pensions, including a benefit formula change for eligible active members who had service in the plan in 2023, along with a full cost of living adjustment for retired and deferred members.

HOOPP says it also raised its pension liabilities to reflect that Canadians are expected to live and draw from their retirement savings for a longer period in the future.

HOOPP says it had more than $40 billion in total government bond holdings as of Dec. 31.

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.