Make every year count toward retirement
Increase your secure lifetime pension with a Medicus pension buyback.
What is a pension buyback?
A pension buyback allows you to increase your secure monthly pension from Medicus by making a one-time transfer of assets into the plan to purchase additional pension for past years of service with your corporation (or another eligible participating employer). Assets are typically transferred from registered retirement savings, such as an RRSP, or from non-registered personal or corporate funds.
A buyback can be a valuable strategy to strengthen your retirement income. It may be especially beneficial if you:
- joined Medicus later in your career and are looking for a way to catch up on missed service and boost your future pension
- are seeking more secure, predictable income in retirement, including higher monthly pension payments
Who can apply
To apply for a buyback with Medicus, you must be a Medicus plan member. The next buyback opportunity will be available in 2027.
To be eligible for a buyback, you must have:
- eligible past service with your corporation (or another participating employer)
- eligible pensionable earnings for some or all of those years (meaning, you must have received salary and wages, including bonuses and excluding dividends)
- sufficient assets available to fund your buyback transfer
What a buyback can mean for you
Maximize secure lifetime income
Increasing pension through a buyback means less worrying about outliving retirement savings because a Medicus pension is paid for life.
Simplify your retirement
It’s common to have savings in different places – RRSPs, TFSAs, personal investments, and more. Consolidating savings through a buyback can be a great way to feel secure about retirement and save time spent reviewing different investments, both now and in the future.
Manage personal and corporate taxes
Some members use buybacks to move funds out of the corporation and into the plan as part of their tax strategy. It can be an efficient way to balance tax obligations while strengthening retirement income.
Enhance family or estate protection
Building a bigger Medicus pension through a buyback also means increasing the survivor benefits payable to a spouse or beneficiary.
Funding a buyback
Depending on your circumstances, a Medicus pension buyback may be funded using:
- registered retirement savings plan (RRSP) assets
- corporate funds
- personal non-registered savings
Your available funding options will be outlined in your personalized Pension Buyback Options Package.
Medicus Pension Plan and its related logos are registered trademarks, used under licence. The Medicus Pension Plan is a registered pension plan under the Pension Benefits Act (Ontario) and the Income Tax Act (Canada) (Registration No. 1406180). To determine if the Medicus Pension Plan and/or a pension buyback is appropriate for your retirement planning needs and retirement income objectives, please consult with a financial advisor.
Medicus reserves the right to offer buybacks to plan members for limited periods of time. This limited pension buyback opportunity is available to physicians who join Medicus on or before June 30, 2026, and who elect to complete a buyback with an event date of June 30, 2026, by submitting a completed option form by September 30, 2026.