Your CPRSP benefit and advice from MD can help you do it.

Saving made easier

Saving for your future or retirement can be tough. But if you’re a practising physician in British Columbia, there are two important ways to make it a lot easier:

  • 1. Claim your contributory professional retirement savings plan program benefit — or CPRSP, for short.
  • 2. Speak with an MD Advisor, who can guide you through the steps to optimize your benefit.

Did you know?

The deadline to claim your CPRSP benefit is January 20, 2020 (or December 2, 2019, if you were born in 1948).

For physicians who are in their first to fifth year in practice, your full CPRSP entitlement is available without requiring any matching contribution from you.

We’re here to help you plan and save beyond your CPRSP.

Your CPRSP benefit can go a long way to getting your retirement savings on track. But ensuring you’re ready for challenges down the road means carefully analyzing your financial situation, creating a plan and putting it into action. At every stage of your life and career, a knowledgeable MD Advisor can help:

    1. Manage debt and save for a down payment on a house or cottage, university tuition for your kids or other major purchases.
    2. Make an incorporation decision that makes sense for you and your family.
    3. Protect you against the financial impact of unexpected events and emergencies.

In short, MD helps you successfully manage your competing financial challenges so you and your family can achieve your financial goals — including the retirement you want.

Don’t miss this opportunity to optimize your
CPRSP benefit.

How to apply for your CPRSP benefit

MD Financial Management (MD) has a close relationship with Doctors of BC, which issues your CPRSP benefit, so we can help you make the most of this unique program.

An MD Advisor will help you save time, make the process hassle-free and ensure you receive all you’re entitled to — we can even apply on your behalf.

1. Log in to the Doctors of BC website.

2. Go to My Account and select “View all personal documents” to view your 2019 CPRSP entitlement package (including any entitlement packages for benefits not yet claimed from 2017 and 2018).

3. Print your personalized CPRSP application (which specifies your entitlement) and cover letter.

4. If you already have an MD RRSP account, fax or drop off your signed application forms at your local MD office. Your MD Advisor will take care of the rest.

5. If you don’t already have an MD RRSP, switching is easy. Just book an appointment with an MD Advisor and complete the CPRSP application form. The MD Advisor will take care of the rest. (Bring your 2018 notice of assessment from Canada Revenue Agency and your completed CPRSP application to your appointment. The notice of assessment will help to ensure that you don’t over-contribute and exceed your RRSP deduction limit.)

Want to find out more?

Here are a few links you may find helpful:

Reach out to an MD Advisor Today!

Your MD Advisor is here to help with all your financial needs.

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Environics Research (2018) MD Physician Retirement Readiness Study.

MD Advisor refers to an MD Management Limited Financial Consultant or Investment Advisor (in Quebec), or an MD Private Investment Counsel Portfolio Manager.

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