In short: A UK doctor moving to Canada generally cannot transfer an NHS pension into an RRSP or any other Canadian registered plan, because the NHS Pension Scheme is an unfunded public service scheme and UK rules restrict transfers out. Most physicians leave it deferred, inflation-linked, to be paid from UK retirement age, with the Canadian tax treatment governed by the Canada–UK tax treaty. ZAI Wealth Management explains how to build a Canadian replacement through a Medical Professional Corporation, RRSP contributions from salary and, after 40, an Individual Pension Plan.
Can you transfer your NHS pension?
Generally, no. The NHS Pension Scheme is an unfunded public service scheme, and UK rules restrict transfers out of these schemes. It can't simply be moved into an RRSP, and unauthorized withdrawals can bring heavy UK tax charges.
Leaving it deferred
Most doctors leave their NHS pension deferred in the UK. It generally keeps pace with inflation and pays out from your UK pension age. How it's taxed once you live in Canada depends on the Canada-UK tax treaty, so get cross-border tax advice before you draw it.
Building a Canadian replacement
In Canada you'll usually be self-employed through a Medical Professional Corporation, with no employer pension. Your corporation becomes your retirement engine:
- Leave surplus in the MPC at the small business rate.
- Build RRSP room with some salary.
- For physicians over 40, an Individual Pension Plan can offer a defined-benefit pension similar in feel to the NHS scheme.
See our guide for internationally trained physicians.
Run your own numbers with our Physician Tax Savings Calculator.
For illustration and general information only. Tax rules change and every situation is different, so speak with your advisor and accountant before acting on anything here.
Common questions
Can a UK doctor transfer their NHS pension to Canada?
Generally no. The NHS Pension Scheme is an unfunded public service scheme and UK rules restrict transfers out, so it cannot be moved into an RRSP or other Canadian registered plan. Most physicians leave it deferred and inflation-linked, to be paid from UK retirement age, with the Canadian tax treatment set by the Canada–UK tax treaty. ZAI Wealth Management builds the Canadian replacement through the Medical Professional Corporation, RRSP contributions and, after 40, an Individual Pension Plan.