Ep #99 - Comparing Pension Plans for Incorporated Doctors - with Sean Wilson & Navaz Cassam Artwork

beyond MD with Dr. Yatin Chadha

Financial literacy is not emphasized enough for professionals during training, leaving many unprepared as they begin their careers. The topics covered in beyond MD apply to all professionals, including medical students/residents and practicing physicians. This podcast is led by radiologist Dr. Yatin Chadha and guided by expert analysis. Each episode, Yatin interviews accountants, lawyers, brokers, and advisors to heighten awareness on important topics, such as professional corporations, holding companies, trusts, estate planning, insurance policies, mortgages, real estate, and investing. It's time to take your financial knowledge base to the next level so you can get ahead outside of the workplace. Please send questions and topics of interest to beyondmdpodcast@gmail.com

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beyond MD with Dr. Yatin Chadha

Ep #99 - Comparing Pension Plans for Incorporated Doctors - with Sean Wilson & Navaz Cassam

September 11, 2025 • Season 1 • Episode 99

Today we dive back into pensions for incorporated professionals. On this ride, we compare and contrast 2 good pension options: the individual pension plan (IPP) and the Healthcare of Ontario Pension Plan (HOOPP).

For today's chat I'm happy to welcome Sean Wilson (CFP, CIM), founder of Moraine Wealth Advisory, and Navaz Cassam, president & chief actuary of GBL Inc.

HOOPP vs IPP White Paper:

https://morainewealth.com/blog/hoopp-vs-ipp/

Discussion points:

- overview of pensions (1:45)

- introduction (2:42)

- what is a defined benefit (DB) pension plan? (4:38)

- the DB pension formula (5:20)

- establishing earnings for a pension plan (8:03)

- pension eligibility (9:43)

- pension plan contributions (11:43)

- why are extra contributions helpful? (14:40)

- IPP special contributions (19:10)