Terms of use

The Medicus Pension Plan (“Medicus” or the “Plan”) is a defined benefit multi-employer pension plan that provides secure lifetime retirement income to its members. Medicus is registered under the Pension Benefits Act (Ontario) and the Income Tax Act (Canada) and enables incorporated physicians to participate through their professional corporations and eligible employed physicians to join as members.

Medicus is sponsored by The Bank of Nova Scotia (“Scotiabank” or the “Sponsor”) and administered by the Administrative Board of the Plan. The Sponsor, through its Plan Sponsor Committee, is responsible for sustainability of the Plan and for overseeing its design, funding policy and governance framework. The Administrative Board serves as the legal administrator of the Plan and is the fiduciary body responsible for overseeing administration of the Plan and its trust fund in the best interests of Plan beneficiaries.

This Website provides general information about Medicus and is intended for informational purposes only. The Website is hosted by the Sponsor with the support of third-party service providers.

By accessing or using this Website, you agree to be bound by these Terms of Use (“Terms”). These Terms may be updated from time to time, and continued use of the Website constitutes acceptance of any changes.

The Website provides summary information about Medicus in simplified terms. If there is any discrepancy between this information and the official Plan documents, the terms of the Plan documents will apply in all cases. 

Information on this Website or that we provide by email is not intended to provide financial, legal, or tax advice. To determine if Medicus, including any of its features, is appropriate for your retirement planning needs, please consult with a financial advisor.

These Terms are governed by the laws of the province of Ontario, Canada and the federal laws of Canada applicable therein.

To the fullest extent permitted by law, Medicus, the Sponsor, the Administrative Board and their service providers are not liable for damages arising from your use of this Website.

At this time, physicians incorporated in, or whose primary place of employment is in, Saskatchewan, Manitoba, or Quebec are not eligible to join the Medicus Pension Plan. 

Use of this Website is subject to the Medicus Pension Plan Privacy Statement, which explains how personal information is collected, used, disclosed and safeguarded. Please review the Medicus Pension Plan Privacy Statement to learn more.

If you submit an inquiry through the Website, the information you provide may be accessed by and responded to by individuals supporting Medicus, which may include service providers acting on behalf of Medicus. By submitting an inquiry, you acknowledge that your information may be shared as necessary to respond to your request.

Please do not include sensitive personal information (such as Social Insurance Numbers, banking information, or detailed personal financial information) in email communications or other general inquiries.

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. Figures shown in examples have been rounded for simplicity.

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 Plan is designed with the ability to provide cost of living increases depending on the financial health of the Plan. Any inflation‑adjusted amounts are estimates based on assumed future inflation rates. Any inflation increases granted are at the discretion of the Plan, in accordance with the Plan documents. 

The Plan measures funded status 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.

Medicus reserves the right to offer buybacks to Plan members for limited periods of time.

The 2026 limited pension buyback offering is available to physicians who join Medicus on or before June 30, 2026.

This Website may contain links to third-party websites and tools. These third-party websites and tools operate under their own terms and privacy policies. When accessing these third party websites and tools, you are leaving the Website and these Terms no longer govern.

Medicus Pension Plan and its related logos are registered trademarks, used under licence. Unless otherwise indicated, Website content is owned by Medicus or used under licence. Unauthorized reproduction or use is prohibited.