What is CPRSP?
The Contributory Professional Retirement Savings Plan (CPRSP) provides funds to eligible physicians to support their retirement savings.
For 2026, the maximum CPRSP benefit is $12,800, made up of:
- Basic benefit: up to $7,000.
- Length of Service (LOS) benefit: up to $5,800.
Each fall, Doctors of BC calculates your available CPRSP benefit based on your eligible income and, for the LOS benefit, your years of practice in BC.
Your CPRSP benefit can reimburse eligible contributions to an RRSP, TFSA, FHSA, Individual Pension Plan (IPP), or Registered Pension Plan (RPP).
Eligibility and benefit calculation
Eligibility
To be eligible for CPRSP, you must have received eligible income in the prior calendar year through:
- Fee-for-service payments from MSP, including Rural Locum and LFP payments;
sessional payments; and/or - A non-salaried service contract with a health authority.
You can access information about your eligible income through Member Area > Services > Documents > Income Letters.
If you are over age 71, you may still claim the CPRSP benefit, up to your RRSP deduction limit, if:
- You have a spousal RRSP where you are the registered contributor and your spouse is age 71 or younger; or
- You have a personal TFSA.
Your spouse’s TFSA cannot be used to claim your CPRSP benefit.
Basic benefit
Your Basic benefit is based on your eligible income from the prior calendar year. Your eligible income is adjusted by the appropriate overhead factor provided by MSP based on your practice type.
For 2026, net income of $120,000 provides the maximum Basic benefit of $7,000.
Length of Service benefit
Your Length of Service (LOS) benefit is based on your eligible income from the prior calendar year and the number of years you have practised in BC.
For 2026, the maximum LOS benefit is $5,800.
Parental leave: Beginning with the 2025 CPRSP benefit, physicians who do not have nine months of practice in the prior calendar year because of parental leave will still receive an increment in their length of service.
Years of practice
At least 9 months of a year in BC = 1 LOS year
| Years of practice in BC | Percentage of maximum LOS |
|---|---|
| 1–4 years | 20% |
| 5–9 years | 40% |
| 10–14 years | 60% |
| 15–19 years | 80% |
| 20 years or more | 100% |
Eligible income
| Annual gross eligible income | Percentage of LOS payable |
|---|---|
| < $5,000 | 0% |
| $5,001–$20,000 | 20% |
| $20,001–$35,000 | 40% |
| $35,001–$50,000 | 60% |
| $50,001–$60,000 | 80% |
| > $60,001 | 100% |
Permitted registered savings plan contributions
Your CPRSP benefit can reimburse contributions to eligible personal savings plans or corporate pension plans.
RRSP, TFSA, and FHSA
New: First Home Savings Account (FHSA) is a new registered savings vehicle approved to be reimbursed CPRSP benefit starting with the 2026 CPRSP. A FHSA is a hybrid of an RRSP and TFSA, where contributions will reduce your taxable income while a qualifying withdrawal to buy your first home is tax free. The Benefits Committee approved this new vehicle to assist eligible physicians in saving for their first home in BC. Reach out to your financial institution to learn more about FHSA.
You can claim your CPRSP benefit for contributions to:
- Your personal RRSP;
- A spousal RRSP where you are the registered contributor;
- Your personal TFSA; and/or
- Your personal FHSA, starting in 2026.
Make your RRSP, TFSA, or FHSA contribution in the benefit year you are claiming, or before or immediately after submitting your online claim and receiving your CPRSP benefit. Immediately after means within two weeks of receiving the benefit.
Your contributions can be used to reimburse current and prior years' CPRSP benefits, but not future years' benefits.
Providing proof of your RRSP, TFSA, or FHSA contribution when you submit your online claim is optional.
We periodically select claims for review. If your claim is selected and you have not previously uploaded documentation, you will receive an email requesting proof of contribution. Post review, if insufficient, we will follow up for additional documentation. Failure to provide sufficient documentation will result in a claw back of your future CPRSP benefit. If applicable, once a claw back has been applied in full, you will be able to claim from the CPRSP benefit again.
Be sure to keep RRSP, TFSA, and FHSA deposit documentation for at least two years. RRSP, TFSA, or FHSA contributions made after you receive a request from Doctors of BC to provide proof of contribution will not be accepted as proof for that claim.
IPP and RPP
If you are incorporated, your CPRSP benefit can also reimburse your corporation for contributions to an:
- Individual Pension Plan (IPP); or
- Registered Pension Plan (RPP).
Being incorporated does not mean your corporation automatically has an IPP or RPP. Speak with your financial advisor for more information about these registered pension plans.
Unlike RRSP, TFSA, and FHSA claims, proof of your IPP or RPP contribution is required when you submit your online claim.
If you have recently established or closed an IPP or RPP, contact Doctors of BC.
The Medicus Pension Plan™, established by MD Financial Management Inc. and Scotiabank, is a multi-employer pension plan for incorporated Canadian physicians and is eligible for CPRSP claims. Speak with your financial advisor for information about the Medicus RPP.
Explore more
For additional information, see the 2026 CPRSP questions and answers and flowcharts.
Claim your CPRSP benefit
CPRSP benefits are calculated each fall and are normally available to claim by October.
Submit your claim
- Update your bank account, if applicable (Member Area > Account > Bank Accounts).
- Submit your claim (Member Area > Services > Benefits and select Claim Contributory Professional Retirement Savings Plan).
Online claims are generally processed and reimbursed within three weeks.
Claim deadlines
You have two and a half years to claim your benefit before it expires.
For example, your 2026 CPRSP Basic and LOS benefits must be claimed by March 31, 2029. Any amount remaining after the deadline will be forfeited and returned to the fund for redistribution.
Direct deposit
CPRSP payments are deposited into the bank account you have on file with Doctors of BC. Payments cannot be made directly to your RRSP, TFSA, FHSA, or another third party.
If you choose to receive your CPRSP payment through a corporate bank account for your RRSP/TFSA/FHSA CPRSP claim, discuss any potential tax implications with your accountant.
Administration fees for non-members
If you are not a Doctors of BC member in the year the benefit is allotted, an administration fee will be deducted before payment.
For each benefit year being claimed, the fee is the lesser of:
- 50% of your Basic benefit; or
- The remaining balance of your equivalent Doctors of BC membership dues, plus GST.
Please review your membership category to make sure it is accurate, even if you choose not to renew your membership.
An administration fee receipt will be issued in February of the following year.
Income tax
CPRSP benefits are taxable. You will receive a T4A for CPRSP amounts claimed during the calendar year. A T4A is not issued when the CPRSP benefit is paid to your corporation for an IPP or RPP contribution.
For tax-related questions, speak with your accountant or financial advisor.
Authorized representative
To allow Doctors of BC to share your personal information with a third party, complete and submit an authorizing or cancelling a representative form.