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Healthcare of Ontario Pension Plan HOOPP  St Joseph's  Form

Healthcare of Ontario Pension Plan HOOPP St Joseph's Form

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Instructions and help about hoopp com connect

There is a perception out there that defined benefit plans are more costing defined contribution plans and in fact that's not true and in fact the reverse is true it's much more costly to run a defined contribution plan than a defined benefit plan so defined contribution plan the employer simply makes a payment into a plan, and then it's up to you to figure out how to invest it and what you get in retirement is completely dependent on how you did on your investment returns the defined benefit plan on the other hand is based off of formula so the employer and the employee make a contribution into the plan and then when you retire there's a formula that defines what your income is going to be, and it's typically about two thirds of your working career income the issue rEvally is around risk transference I mean essentially if an employer is sponsoring a defined benefit plan they accept some risk of future underfunding so by shifting from a defined benefit plan to a defined contribution pl

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