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Physician Retirement Fund

Program Overview

Nova scotia recognized that the world is in competition for doctors and requires a comprehensive approach to recruitment and retention, including long-term financial incentives. The Nova Scotia Physician Retirement Fund supports full-time and part-time physicians who deliver patient-centered and/or patient-facing services in the province.

The Physician Retirement Fund matches a portion of physicians’ retirement savings contributions, prorated against full-time clinical status, and based on continuous years of practice.

  • 0 to 5 years: A contribution of $5,000 each year from the province (no physician contribution required)
  • 5 to 15 years: The province will match physician contributions up to $10,000 each year.
  • More than 15 years: The province will match physician contributions up to $15,000 each year.

The 2024/25 Fund is available to physicians that provided care in Nova Scotia between April 1, 2024 and March 31, 2025. The Department of Health and Wellness calculates individual eligibility amounts based on years of service and full-time/part-time status. Physicians have full choice in which retirement vehicle they invest their money, such as RRSP, TFSA, third-party pension plan, etc. and will have until March 31, 2026, to contribute to their chosen retirement vehicle. Ultimately, the end goal of the Physician Retirement Fund is to support physicians in their continued clincal practice Nova Scotia and assist in their long-term financial planning.

Resources

  • FAQ – Physician Retirement Fund (coming January 2026)
  • 2024/25 Physician Retirement Fund Opt-in Form (opens January 2026)

Key Dates for 2024/25 Retirement Fund

  • Mid-January 2026: Eligible physicians will receive notification of their individual eligibility amount
  • March 31, 2026: Contribution deadline to a chosen retirement vehicle (for physicians with 5+ years of service)
  • March 31, 2026: Opt-in deadline for the 2024/25 Physician Retirement Fund
  • May-June 2026: Medavie will issue reimbursements on behalf of the province

Program Updates

[This section will be updated as new information becomes available]

 

For questions, please email [email protected]