Eligibility
Who can participate in the Medicus Pension Plan ?
Medicus is open to physicians licensed to practice medicine in Canada who are in an eligible jurisdiction, and are:
- Incorporated physicians; or
- Physicians employed by certain other entities (such as other incorporated physicians or clinics).
Non-physicians, such as spouses and other staff employed by a participating employer, are not eligible to participate.
In both cases, participation in Medicus is subject to a Participation Agreement between the participating employer, the Plan Sponsor Committee, and the Administrative Board.
To be eligible to join Medicus as a member, your professional corporation or other employer must first be accepted as a participating employer in the plan.
NOTE: If you are a physician practicing through a professional corporation that is a participating employer, then for the purposes of the plan you are considered an employee of the corporation.
Eligible jurisdictions
Medicus is currently available in Alberta, British Columbia, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, and the Territories.
- If you’re a physician joining through your professional corporation, you must be incorporated in an eligible province or territory.
- If you’re a physician joining through another employer, your primary place of employment must be in an eligible province or territory.
Provinces where the plan is not available
We are not yet able to offer Medicus to physicians in Manitoba, New Brunswick, Quebec, or Saskatchewan due to legislative barriers.
The Medicus team is working with various stakeholders toward a goal of enabling incorporated physicians across Canada to participate in the plan.
Not incorporated?
Being able to participate in the plan and start building pension benefits for the future may be a reason to consider incorporating.
TIP: You can learn more about medical professional corporations in MD Financial Management’s incorporation toolkit. Get it here.
TIP: To stay in touch with our progress, including future availability of Medicus in your province, please bookmark our website and check our news updates from time to time.
Medicus Pension PlanTM is a trademark of The Bank of Nova Scotia (Scotiabank), used under licence. The Scotiabank and MD logo are trademarks of Scotiabank, used under licence. Scotiabank is the sponsor of the Medicus Pension Plan, which is a registered pension plan and is registered under the Pension Benefits Act (Ontario) and the Income Tax Act (Canada). To determine if the Medicus Pension Plan is appropriate for your retirement planning needs and retirement income objectives, please consult with a financial advisor.
Scotiabank provides banking and credit products and services. Visit scotiabank.com.
MD Financial Management Inc. wholly owns or has a majority interest in the MD Group of Companies. It provides financial products and services, is the fund manager for the MD Family of Funds and offers investment counselling services. For a detailed list of the MD Group of Companies, visit md.ca.