YEAR ONE
Reflections on Medicus’ first year
The Medicus Pension Plan™ is the first and only pension plan of its kind designed exclusively for physicians.
How our story began
For years, many physicians across Canada identified a need — and a desire — for a national pension plan, but it didn’t seem possible.
Most physicians are not “employees” of the province or a healthcare establishment, so they were not eligible to join traditional pension plans.
Together, MD Financial Management Inc. and Scotiabank felt strongly about building a pension plan worthy of physicians, and on May 30, 2023, the Medicus Pension Plan was officially launched.
The Medicus story
2018
2021
2022
2023
2024
Medicus has its first retiree, who will receive a pension every month for the rest of their life
Medicus celebrates its first anniversary on May 30
What’s next?
We’re delighted to be operating in six provinces and all three territories.
We continue to work diligently with various stakeholders in the remaining provinces to remove legislative barriers so eligible physicians can join Medicus from coast to coast.
Nunavut
Plan is open
Northwest Territories
Plan is open
Yukon
Plan is open
British Columbia
Plan is open
Alberta
Plan is open
Ontario
Plan is open
Newfoundland and Labrador
Plan is open
Nova Scotia
Plan is open
Prince Edward Island
Plan is open
Our members practise in many different areas, including:
- Anesthesiology
- Cardiology
- Emergency Medicine
- Family Medicine
- Gastroenterology
- General Surgery
- Hematology
- Infectious Diseases
- Nuclear Medicine
- Obstetrics and Gynaecology
- Oncology
- Orthopedic Surgery
- Otolaryngology
- Pathology
- Pediatrics
- Physical Medicine and Rehabilitation
- Plastic Surgery
- Psychiatry
- Urology
- And more…
Looking to enrol?
Set up a one-on-one discovery meeting to chat with one of our specialists and have all of your questions answered.
Why pension matters
Physicians choose to save for retirement using a variety of strategies. It can be beneficial to complement these strategies with a predictable stream of income in retirement — and a pension can do just that.
Some of the physicians who joined Medicus last year will receive a pension of more than $100,000 per year in retirement!
Our latest actuarial valuation on
January 1, 2024, showed the plan was
158% funded
on a going-concern basis
115% funded
on a solvency basis
These are both very strong measures.
Investment performance is a fundamental focus for the Administrative Board and sustainable investing is an important consideration as we manage the plan through a long-term lens.
What’s our investment edge?
When contributions are pooled together, Medicus benefits from that scale with access to more diverse investment opportunities, including specialized options that aren’t typically available to individual investors.
The Administrative Board has engaged 1832 Asset Management L.P. to invest the plan’s assets. They’re a subsidiary of Scotiabank and one of Canada’s largest asset managers.
Target asset mix:
Physicians ask us…
Is Medicus tax-effective?
Yes. Incorporating Medicus into your retirement planning strategy is a great diversification option, especially when thinking about the implications of capital gains in professional corporations. A physician’s professional corporation, as the participating employer, is generally permitted to deduct its contributions to the plan for income tax purposes.
Is my pension protected against inflation?
Yes. Medicus has been designed with the ability to provide cost of living increases, which can help protect your purchasing power during retirement.
Looking to enrol?
Set up a one-on-one discovery meeting to chat with one of our specialists and have all of your questions answered.