Our future.
Our commitment.
2026 Medicus Pension Plan Annual Report
At Medicus, we know physicians
We take great pride in the intention we bring to every aspect of the plan. Each decision is grounded in a clear, long-term view: what will best serve physicians today and in the future? We’re grateful to the growing community of physicians who have placed their trust in us, and to the generations of physicians to come.
140%
Funded on a going-concern basis
115%
Funded on a solvency basis
13.7%
One-year rate of return
We're committed to this shared journey
Whether it’s disciplined investing, consistently delivering inflation protection, maintaining a strong funded position, or ensuring governance grounded in stability and stewardship, our commitment remains the same — steady, sustainable, and physician-first.
Your voice
Our members share how Medicus supports their retirement plans.
Your pension
Through buybacks, members secured an average of $20,000 more in annual pension income.
Your purchasing power
Members received inflation protection for the fourth year in a row.
Your investments
New private assets elevated the sophistication of our portfolio.
Meaningful retirement income. Plan stability. Continued growth. This is our value proposition in action. Medicus is offering predictability, discipline, and a long-term orientation, all of which matter enormously when physicians are thinking about their future financial security.
Your voice
We spoke with two of our physician members to find out what Medicus means to them and to hear about their experience joining the plan. Dr. Pun, a palliative care physician, and Dr. Chau, a physician specializing in care of the elderly, both based out of Sudbury, Ontario, joined Medicus together in 2024 and recently completed a pension buyback.
What inspired you to consider joining Medicus, and what were you hoping it could bring to your financial future? We were drawn to the idea of having a steady, predictable source of income in retirement, something that would complement the variability of market-based investments. Medicus offered an opportunity to diversify our overall financial strategy while adding a layer of stability and security that we felt was important for long-term planning.
What gave each of you the confidence to choose Medicus, and what made it feel like the right fit for your family? Knowing that Medicus is a pension plan specifically designed for physicians gave us a great deal of confidence. It felt aligned with our professional realities and long-term needs. We also valued the ability for both of us to participate, along with the survivor benefit; know the pension can transfer to a spouse provides important reassurance that either of us would be supported.
Membership value
No matter where you are in your journey — just starting out, mid-career or nearing retirement — Medicus can help you get where you want to go. With a range of features, including pension buybacks, you can build a strong pension even if you’ve only been a member for a short time. Let’s explore a few member profiles:
Meet Dr. Nadia
Joined at age 35
The goal
Wants to save for retirement while focusing on growing her practice.
The approach
Nadia makes the maximum contribution allowed each year for 30 years before retiring at age 65.
Meet Dr. Amanda
Joined at age 45
The goal
Wants to retire on time and worry-free; her primary focus is running her busy practice.
The approach
Amanda makes the maximum contribution allowed each year for 20 years before retiring at age 65.
Meet Dr. Marco
Joined at age 50
The goal
Wants to retire comfortably and slowly wind down his practice volunteer work abroad.
The approach
Marco makes the maximum contribution allowed each year for 15 years before retiring at age 65. He decides to complete a buyback of 20 years to boost his pension without working longer.
Buyback opportunities
A buyback lets members turn their savings into additional lifetime pension. How? Many physicians already have savings in RRSPs and other non-registered investments by the time they join Medicus. By transferring some of those savings to Medicus, they can increase the amount of their lifetime annual pension.
Top reasons to complete a buyback:
- Maximize secure retirement income
- Simplify retirement
- Enhance family protection
Curious about how a buyback could boost your pension?
Inflation protection
For the fourth year in a row, we're proud to deliver full inflation protection for our members, a clear reflection of the plan's strong financial health and prudent management.
4.7% for active members
2.0% for retirees
Members who joined in 2022 have already seen an average 3.5% boost per year to their pension thanks to the strength and stability of our funded status.
Plan financials
The Administrative Board is responsible for oversight of the plan's investment strategy and asset mix: 30% fixed income, 55% public equities, and 15% private assets.
In 2025, we expanded our portfolio to include private equities, private credit and private real estate. These assets add diversification and position the plan for even more resilient long-term performance.
Our one-year rate of return was 13.7%, building on a return of 9.1% in 2024. This result is well above our benchmark of 5.8% per year.
Medicus has become a foundational part of our retirement planning. It allows us to view a significant portion of our future income as stable and predictable, which in turn reduces the pressure on our other investments to perform in a particular way. That shift has brought a meaningful sense of peace of mind as we plan ahead.
Examples provided are for illustrative purposes only and are based on various assumptions and the current terms of the plan documents, which are subject to change. Life expectancy has been estimated using a standard Canadian table for public sector retirees, adjusted to reflect the profile of the plan membership and expected future improvements in longevity. The numbers shown are based on Income Tax Act limits in 2026, and on the following assumptions: pre- and post-retirement indexation based on 50% of the assumed inflation for those periods (3% for pre-retirement years, based on the expected annual increase in the Average Industrial Wage, and 2% for post-retirement years, based on the expected annual increase in the Consumer Price Index). Figures shown in examples have been rounded for simplicity.
Funding measures explained: The annual report shows the Plan’s funded status measured on two bases. The going-concern funded status compares the value of Plan assets to the estimated cost of benefits earned to date, using long term actuarial assumptions. The solvency funded status measures whether plan assets would be sufficient to settle all accrued benefits immediately. Both measures are used to assess the Plan’s financial health from different perspectives.
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