Role of the participating employer
At a glance
In the Medicus Pension Plan (“Medicus” or the “plan”), there are two key roles:
- Participating employer
If you are a physician joining through your professional corporation, you will have roles as BOTH a participating employer AND a member. Your corporation becomes a participating employer in Medicus, and you are an employee of the corporation. As an employee, you can become a member.
Each year, all participating employers have a number of key responsibilities, to make sure membership in the plan runs smoothly.
Here’s an overview of these responsibilities
Important note: This document summarizes the general responsibilities of Medicus participating employers. It is intended to help you better understand the responsibilities and actions you may need to take to fulfill your obligations to the plan. The guide is not a legal document and the information provided has been simplified. It is not intended as advice. Examples contained in this document are based on various assumptions and the current terms of the plan text, the Funding Policy, the Sponsor Agreement and the Trust Agreement (the “Plan Documents”), which are subject to change. If there are any discrepancies between this document and the Plan Documents, the terms of the Plan Documents will apply in all cases. This document was published in December 2023 and reflects the plan provisions in effect as of January 1, 2024.
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.