Why self-employed doctors’ wait for retirement ‘peace of mind’ is almost over
Noting that life expectancy is increasing around the world, he said it is becoming increasingly difficult for physicians to know whether they have enough assets to last a lifetime when they retire at age 65.
The new Medicus pension plan will allow professionally involved physicians – primarily those who are currently self-employed in clinics or specialists who are not salaried in a large organization – to pool their risk, so that they are predictable in retirement. To receive income and benefits for loved ones.
Noting that there are about 75,000 incorporated doctors in Canada, Simone Reitz, managing director of Medicus Pension Plans at Scotiabank, said pooling their funds could give them access to asset classes or more sophisticated investment strategies, which they choose to use in their own right. You can access on your own. Storing their money meant they could invest for a long time, and get better income, as a person who was about to retire.
MD Financial and Scotiabank have been working on this long-awaited plan for three years and are excited about the opportunities it will provide to physicians as Canadian first.
“We had the ability to combine the MD’s knowledge of physicians and expertise around financial planning for physicians with the scale and capabilities of an organization like Scotiabank,” Labonte said. “We were able to join forces and offer solutions because we could pull those capabilities together and have a specific scale, capability, expertise and knowledge base for physicians.”