CPRSP definition

CPRSP means the plan which is the subject of the Contributory Professional Retirement Savings Plan Agreement referred to in Article 7.4 of the 2004 Working Agreement;
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Examples of CPRSP in a sentence

  • New funding:  $19.5M April 1, 2020 and an additional  $20.5M April 1, 2021  To facilitate their participation, physicians will no longer be required to match CPRSP funding, will be able to direct the funds to a Tax Free Savings Account, and will be able to withdraw funds from their RRSP for the first time buyers’ home plan and the lifelong learning plan.

  • New funding:  $3.2M April 1, 2020 and an additional  $9.0M April 1, 2021  Government will increase funding to the Continuing Medical Education fund (CME), the Physician Disability Insurance program (PDI), the Parental Leave program (PLP), and the Contributory Professional Retirement Savings Program (CPRSP) to maintain the value of those benefits to members.

  • Beginning in year 2 of the agreement, Government will increase the funding to the CPRSP program to provide for an estimated 50% increase in both Basic and Length of Service benefits.

  • Physicians will no longer be required to match CPRSP funding, will be able to direct the funds to a Tax Free Savings Account and will be able to withdraw funds from RRSP for the first time App E s.

  • Such increase shall be allocated by the CPRSP Administrative Committee, or its successor committee, to enhance the value of the CPRSP in ways that will encourage physicians to remain in practice longer than would otherwise be the case.