Malpractice FAQs For Practicing Dentists
Malpractice insurance can feel complicated, but knowing how your coverage works is key to protecting your practice. These FAQs answer common questions dentists have, including what happens if a claim is made, who needs coverage, and whether employees are included. You’ll also learn how coverage can differ based on your work arrangement, whether incorporation matters, what CDSPI Excess Malpractice Insurance covers, and how your protection works if you move out of province.
What do I do if a malpractice claim is made against me?
If you suspect a malpractice claim may be made against you, you must contact your malpractice insurance provider immediately.
If your malpractice coverage is through CDSPI, you must notify us as soon as you become aware of a claim or a potential claim whether the allegation is verbal or written.
CDSPI will notify the insurer and a claim file will be opened. An adjuster will then contact you and explain the process, which could include contacting the patient, their lawyer, or asking an opinion from a dental expert. This may take some time so use the opportunity to gather all documentation that could potentially relate to the claim, including electronic correspondence and/or documents. Never alter or destroy documents.
Once the process is completed, the adjuster will make a recommendation to the insurer about how to proceed.
If a claim does proceed to litigation, it's taken over by the insurer's legal counsel.
Who is required to have dental malpractice insurance?
All practicing dentists.
Retired dentists who maintain an active license to practice dentistry.
Retired dentists who teach dentistry at a university may require malpractice coverage if the university does not extend their malpractice insurance to you. Please confirm your malpractice coverage requirements with your licensing body.
Postgraduate students in a residency program are required to purchase malpractice insurance if the hospital/university does not offer coverage to the students.
Are my employees covered under my policy?
Employees who are not required to carry their own malpractice coverage (e.g. dental assistants) will be covered under your malpractice policy if they are named in a lawsuit along with the dentist, subject to the terms and conditions of the policy.
Is there any difference in my malpractice coverage if I am hired as an employee or as a self-employed contractor (not an employee or an associate)?
There is no difference in the coverage whether you are an employee or self-employed contractor.
Does my status as a corporation affect my malpractice insurance in any way?
The coverage provided is the same for individuals and corporation with CDSPI Malpractice Insurance.
What is CDSPI Excess Malpractice insurance?
CDSPI Excess Malpractice Insurance is only available to dentists licensed to practice in the province of Alberta or Ontario. It provides coverage in excess of your mandatory primary policy limit in the event a patient makes a claim against you that arises from your professional services.
If I move out of the province, will I still be covered by my CDSPI malpractice insurance?
Your CDSPI Malpractice Insurance will cover you across Canada except for Alberta, Ontario and Quebec, provided you are licensed in the province.
For example, if you purchase malpractice coverage while practicing in Nova Scotia and move to Saskatchewan, you must be licensed in Saskatchewan. You need to let CDSPI know once you have your new license since your malpractice coverage goes with you wherever you go if you are licensed in the province or territory.
I was told CDSPI Malpractice Insurance is a claims-made policy, what does that mean?
CDSPI Malpractice Insurance is a claims-made policy. This means the policy responds to claims as they are reported. For example, if a patient was injured while undergoing treatment with you in 2021, but filed a claim today, it would be your current policy that would respond to the claim, despite the incident occurring in 2021.
It is important you notify CDSPI immediately of any circumstance which may reasonably be expected to give rise to a claim under the policy, or you receive a claim. It is a condition of the policy.
Upon retirement or if you choose to leave the profession or surrender your license to practice dentistry, the CDSPI Malpractice Insurance policy continues to provide dentists with coverage to respond to claims made against you for incidents that occurred before you retired/surrendered your license but were not reported until after that time.
This continuance of coverage does not apply to dental therapists, dental hygienists, dental assistants, or dental nurses who retire or leave the profession.
Malpractice FAQs for Retiring Dentists
Planning your retirement involves more than stepping away from practice, it also means understanding how your malpractice insurance responds as your professional status changes. Whether you’re fully retiring, transitioning out of practice, or maintaining an active license, it’s important to know when coverage is required, how nonpractising status works, and what protections remain in place after you stop practising. The FAQs below address the most common questions retiring dentists ask about CDSPI Malpractice Insurance and Excess Malpractice Insurance, so you can make informed decisions with confidence.
What do I need to know about my CDSPI Malpractice Insurance coverage when I retire?
For as long as you have an active license, you must have malpractice insurance and continue to pay the premium.
Example 1:
Dr. Ali lives in PEI and decides to retire on December 31. She has sold her practice but decided that she will not renew her license with DAPEI when it comes due on April 1. If you retire but still hold a valid license, you must have malpractice insurance and pay the premium. In this case, Dr. Ali would still be considered a practising dentist from January through March and would be required to have malpractice coverage.
Example 2:
Dr. Kolpacki has sold his practice and considers himself retired. He has not given up his license. During the transition with the new dentist, he works two days a week. In this case Dr. Kolpacki would be required to have malpractice coverage.
Example 3:
Dr. Yu retired and gave up his license on September 30, 2021. He immediately informed CDSPI he was no longer practising. Dr. Yu is then considered non-practising (NP) status. This means he is no longer required to pay the premium for his malpractice insurance, but the coverage remains in force for any claims that may arise from when he was licensed/pracising. This feature is important because claims can certainly arise week, months, or even years after a dentists transitions to non-practising.
If a claim is made against me after I retire for an error that I occured when I worked, will my CDSPI Malpractice Insurance still cover me?
Retirement doesn't mean the coverages offered by your policy cease upon retirement. Even when you've stopped practising, CDSPI Malpractice Insurance continues to apply for any work done while you were licensed and covered by the policy.
Our insurer will respond to claims made against dentists for the work they did while they were licensed provided their CDSPI Malpractice Insurance is on a non-practicing status, subjects to the terms and conditions of the policy.
If I'm retiring but not giving up my license, can I give up just my CDSPI Excess Malpractice Insurance (in Ontario and Alberta)?
Yes, CDSPI Excess Malpractice Insurance is not a mandatory insurance. However, if you continue to practice dentistry you remain at risk of claims and the added coverage from CDSPI Excess Malpractice Insurance should be carefully considered.
If you keep your CDSPI Excess Malpractice Insurance until retirement and upon the surrender of your license, then as long as you continue under non-practising status with your primary provider, you will continue to be covered by the plan, subject to the terms and conditions of the policy.
CDSPI Malpractice Insurance and Excess Malpractice Insurance are not available in the province of Quebec.
Important Travel Insurance Notice: War in the Middle East
Provided by: Allianz Global Assistance
Updated: March 5, 2026
Situation Update
As of February 28, 2026, a major and active military conflict has unfolded in the Middle East and surrounding region following joint U.S.-Israeli strikes into Iran. As reported, the U.S. has stated that this is aimed at regime change and the overthrow of the Iranian government and has resulted in the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei. This has triggered a rapid military escalation and retaliatory strikes from Iran across multiple countries in and around the region. The security situation in the region remains highly volatile and unpredictable, with ongoing attacks, military activity, and evolving geopolitical responses, posing significant risk of broader regional and potentially global spread.
As the situation in the region continues to escalate, we sincerely hope that you and your traveling companions are safe and unaffected by the ongoing events.
Travel Impacts
These acts of war have caused widespread and ongoing disruptions to regional and global travel operations, including closed or restricted airports, airspace, maritime routes, and border crossings across the region. Travelers may experience cancellations, diversions, or extended delays.
Further, the Government of Canada/Global Affairs Canada a travel notice to all Canadians advising to avoid all travel to the region, including multiple countrywide or localized, with further changes possible. They have also urged Canadians in the affected regions to be vigilant and follow the instructions of local authorities at all times, including any orders to shelter in place, ensure that your travel documents and those of your family are up to date and monitor local and international media to stay informed of the rapidly evolving situation. Canadians in the affected regions are advised to check with their airline and travel agent to confirm the status of their flight. Additionally, Global Affairs Canada advises that if a Canadian is stranded in a country that requires a visa to consult local immigration to inquire about extensions or available overstay measures and if the Canadian traveller chooses to travel to the Middle East despite the warnings, the Canadian traveller may be unable to leave if conflict escalates further.
Please be aware: Our assistance teams are available 24/7 at 1-866-520-8823 (from the U.S. and Canada) or 1-519-742-9013 (outside the U.S. and Canada), and we are endeavoring to assist our customers to the best of our ability. However, due to events outside of our control, our ability to facilitate assistance services while you are in the region may be substantially limited at this time. If you need help getting out of these countries or other consular assistance, we recommend contacting the nearest Canadian embassy, or contacting Global Affairs Canada’s 24/7 Emergency Watch and Response Centre: ME-MO.SOS@international.gc.ca or calling 613-996-8885, texting 613-686-3685, WhatsApp 613-909-8881 or Signal 613-909-8087.
Travel Insurance Coverage for Allianz Partners Canadian Customers
Allianz Partners’ Canadian customers considering making changes to their travel plans should contact their travel supplier. Some travel suppliers may now, or closer to your departure date, allow customers to cancel their trip and receive a refund or change their dates of travel without change fees when traveling to a destination affected by these events.
With respect to insurance coverage, Allianz Global Assistance policies sold to Canadian residents generally does not provide coverage for any loss resulting directly or indirectly from war (declared or undeclared) or acts of war. Plans may also exclude losses resulting directly or indirectly from governments acts or prohibitions, or from political risk as defined in the plan, which generally includes actions intending or implying the intention to overthrow, supplant or change the existing ruler or constitutional government.
Please note that this war became a known event on February 28, 2026. Plans also exclude coverage for any loss resulting directly or indirectly from any known, foreseeable, or expected event.
Moreover, please note that Government of Canada/Global Affairs Canada has issued an “avoid all travel” travel advisory for several countries in this region, as well as localized “avoid non-essential travel” warnings within many other countries in the region. Due to the general exclusion of war (declared or undeclared) or acts of war, our plans do not provide coverage for cancellations due to the issuance of travel warnings, and moreover several benefits and covered reasons under our plans require that the insured must not have traveled against government advice.
Finally, please note that our plans do not provide any coverage, benefit, or service for any activity that would violate any applicable law or regulation, including without limitation any economic or trade sanction or embargo.
We encourage customers who believe they have coverage under their plan to file a claim. Benefits, covered reasons, and coverage limits vary by plan. Please review your plan for details on the coverage available under your plan, as well as the temporary accommodations noted below, or contact us at the number listed on your plan with any questions or to file a claim.
Plan Changes / Refunds
If your trip is canceled, you may change your insurance plan’s effective dates to cover a new or rescheduled trip, as long as that trip is scheduled to be completed within 540 days from the plan’s original purchase date. Changes can be made by calling the phone number on your plan. Please note, if you wish to move your plan’s covered trip dates to cover a new or rescheduled trip, you must update your trip dates prior to the departure date of that new or rescheduled trip. Additionally, if your trip costs for your new or rescheduled trip are different than the cost of your original trip, you will need to update your plan’s coverage limits accordingly. Any change in trip cost insured for the new or rescheduled trip may result in a change in premium. If you update your plan’s trip dates to cover a new or rescheduled trip but do not adjust your limits, the original plan limits will apply to the new or rescheduled trip. Please note that your updated policy will also include and be subject to the exclusions noted above.
Alternatively, if your travel supplier cancels your trip, so long as no payable claim has been filed under the plan, you may cancel your plan for a full refund of your plan cost by contacting us. You may also cancel your plan within 10 days from the date your plan was purchased, so long as you have not started your trip or filed a claim. See your plan for details, or contact us at the number listed on your plan. Refunds must be requested within 540 days of the original plan purchase date. Plans do not provide any coverage or accommodation for any loss incurred after the plan ends.
Temporary Claim Accommodations Regarding the War in the Middle East and Surrounding Region
Customers considering making changes to their travel plans should contact their travel supplier. Many travel suppliers are waiving fees and/or offering refunds or credits for future travel to customers with planned travel to this region. Availability of accommodations may be subject to any refund, credit, or reimbursement you receive or that you are eligible to receive from your supplier or other source.
For a temporary period in response to this evolving emergency situation, to help protect the health and safety of our customers, we are currently accommodating certain claims as described in more detail below for insureds whose travel plans have been impacted as a result of this war that began February 28, 2026.
These accommodations are available only for the following “Impacted Countries”: Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, West Bank / Gaza / Palestinian Territories / Palestine, Qatar, Saudia Arabia, Syria, United Arab Emirates, or Yemen.
- Emergency Medical Care if you are injured as a result of acts of war while on an insured trip in an Impacted Country (if your plan includes the Emergency Medical Care benefit)
- Trip Interruption and/or Travel Delay for insureds who were either (a) in an Impacted Country on February 28, 2026 on an insured trip; or (b) in transit on an insured trip and scheduled to arrive in an Impacted Country on February 28, 2026 (if your plan includes the Trip Interruption and/or Travel Delay benefit, as applicable)
Insureds qualifying for this Trip Interruption accommodation will be subject to the per policy maximum of $350 per day to a maximum of $1,500 for this benefit.
The accommodations described above are strictly applicable to the war in the Middle East and surrounding region that began on February 28, 2026. These accommodations are only available for Canadian customers whose plan includes the applicable benefit and whose plan was in effect on or before February 28, 2026. Plans that became effective on or after March 1, 2026 are not eligible for these accommodations. To be eligible for these accommodations, the insured must have a trip itinerary dated on or prior to February 28, 2026 that included travel to or within an Impacted Country on February 28, 2026, and that itinerary must not have been changed by the travel supplier to remove such travel as of the date the claim is filed.
All claims and accommodations are subject to any and all applicable legal restrictions as well as any applicable sanctions-related policy exclusions. All other terms, conditions, and exclusions of the plan apply as normal. By making this accommodation, we are not waiving our rights to generally exclude losses for war (declared or undeclared), acts of war, known or foreseeable events, political risk, or any other otherwise applicable exclusion. Customers have a duty to minimize their loss, and any failure to do so may impact the amount of any reimbursement available. All benefits are subject to maximum limits of liability, which may in some cases be subject to sublimits, day limits, and daily maximums, as well as any and all refunds available from your travel supplier(s) or other sources. Only the expenses covered by the insured’s plan’s benefits are subject to these accommodations. Not all benefits are available on all plans. Please read your plan for details.
Benefits, covered reasons, and coverage limits vary by plan. Please review your plan for details on the coverage available under your plan, or contact us at the number listed on your plan with any questions or to file a claim.
Plans Purchased with Supplier Cancellation Fee Waiver
If you purchased a travel protection plan that included a travel cancellation fee waiver offered by a travel supplier, please contact your travel supplier for questions and coverage information related to trip cancellation under that waiver. Please note, the above refunds, opportunities to change dates, and other accommodations may not be available for any third-party travel cancellation fee waiver you purchased from your travel supplier.
The information in this Coverage Alert is current as of the time of publication but is subject to change as the situation develops. Please visit www.allianz-assistance.ca for the latest coverage information.
Please note, the above-described accommodations are an explicit and limited expression of donative intent only, which is for only the limited purposes expressly specified here and for no other further purpose, express or implied. Further, it is expressly not a guarantee of coverage or admission of legal or equitable liability. Nothing contained or described here, nor any payment made pursuant to the position described here, is or should be construed to be a waiver of any term, condition, or exclusion of any plan, or any applicable rights, remedies, or defenses under any plan or at law or equity. We and our applicable underwriters and reinsurers reserve all rights, remedies, and defenses under the plan and under applicable law and at equity.
Terms, conditions, and exclusions apply to all plans. Benefits and limits vary by plan. For a complete description of the coverage and benefit limits offered under your specific plan, carefully review your plan’s Confirmation of Coverage and Certificate of Insurance/Policy. Insurance benefits are underwritten by CUMIS General Insurance Company and distributed by AZGA Service Canada Inc. Allianz Partners, Allianz Global Assistance and Allianz Travel are marks of Allianz Partners and/or its affiliates. The insured shall not receive any special benefit or advantage due to the affiliation between Allianz Partners and AZGA Service Canada Inc. or CUMIS General Insurance Company. Plans include insurance benefits and assistance services. Except as expressly provided under your plan, you are responsible for charges you incur from third parties.
Why Holding Too Much Cash in Your TFSA Could Be Costing You
Tax-Free Savings Accounts (TFSAs) are often misunderstood. Despite the name, a TFSA is not simply a savings account — it is one of the most powerful tax-advantaged investment vehicles available to Canadians. The key benefit is not just saving money but growing it: any returns earned inside a TFSA, whether from interest, dividends, or capital gains, are completely tax-free. Yet research shows many Canadians still use their TFSAs primarily as cash accounts, unintentionally limiting the long-term growth potential the account was designed to deliver.
How much TFSA money sits in cash?
A 2024 survey from Bank of Montreal1 found that 53% of TFSA holders were primarily investing their contributions, while 47% were holding cash instead, potentially missing opportunities for tax-free growth. Earlier findings from BMO’s 20222 savings study showed cash was the most common TFSA asset. Approximately 56% of respondents reported holding cash in their TFSA, and nearly one-third said cash accounted for at least three-quarters of their holdings.
Similar results appear in other studies. An RBC survey conducted with Ipsos3 found savings accounts and cash were the most common TFSA holdings, used by 42% of account owners. This exceeded the use of mutual funds, individual stocks, exchange-traded funds (ETFs), bonds, and term deposits. More recently, a 2025 survey from TD Bank Group4 found that 39% of Canadians with TFSAs were using them primarily to hold cash, with younger investors especially likely to leave contributions uninvested.
Taken together, these studies consistently show that roughly 40% to 55% of TFSA holders maintain meaningful cash allocations, with some investors holding extremely high cash balances.
This over-emphasis on cash does not come as a surprise to Shane Dewling, an Investment Planning Advisor at CDSPI Advisory Service Inc. “I often speak with clients who’ve successfully opened and funded their TFSA, but then life gets busy and the investment decision gets postponed,” he notes. “Over time, that can leave a significant portion of the account sitting in cash and effectively collecting dust.”
Why Canadians hold so much cash in TFSAs
Several behavioural and practical factors help explain this trend.
Liquidity needs
Many investors value the ability to access TFSA funds quickly and without tax consequences. As a result, they often treat the account like a traditional savings vehicle rather than a long-term investment account like their Registered Retirement Savings Plans (RRSPs).
Knowledge gaps
Research indicates that many Canadians are unaware that TFSAs can hold a broad range of investments, including mutual funds, ETFs, stocks, bonds, and other securities. For some, the account’s name reinforces the perception that it is intended primarily for savings in the form of cash.
Investment uncertainty
Some investors are unsure which investments to select or how to balance TFSAs with other accounts such as RRSPs. This uncertainty often leads investors to hold cash while they delay investment decisions.
Shane believes that these factors can “create portfolios that are inefficient and far more conservative than necessary, particularly for investors with longer time horizons. Working with an advisor can help ensure those savings are properly invested and diversified, so you’re not unintentionally limiting your long-term growth potential by holding more cash than they actually need”.
How holding excess cash affects returns
From a financial planning perspective, holding large cash balances in a TFSA can have two major consequences: lower expected returns and inefficient use of the account’s tax-free benefits.
Lower expected long-term results
According to guidance from Fidelity Canada, cash-type holdings in TFSAs typically generate relatively modest interest returns. In contrast, diversified investment portfolios have historically provided higher long-term growth potential, although they come with market fluctuations5.
Because all investment returns earned inside a TFSA are tax-free, the account is particularly valuable for investments that would otherwise generate taxable income or gains. In general, the higher the tax that would normally apply to a type of return — whether interest, dividends, or capital gains — the greater the benefit of holding that investment inside a TFSA. When large portions of a TFSA remain in low-yield cash, investors may be using valuable contribution room to shelter minimal returns instead of allowing higher-growth investments to compound tax-free over time. Even modest differences in annual returns can add up significantly, as every dollar of growth inside a TFSA stays fully invested rather than being reduced by taxes.
Underutilizing the tax shelter
The TFSA is most valuable when it shelters investments that generate growth or taxable income and higher-growth or income-producing investments often benefit most from tax-free treatment. When TFSA contribution room is used primarily for low-yield cash, investors may miss the opportunity to maximize the account’s tax advantages. Unlike taxable accounts, there is no tax benefit gained from holding lower-risk, lower-return assets inside the TFSA.
Why younger Canadians often hold more cash
Younger Canadians appear particularly likely to maintain higher cash balances in their TFSAs. Surveys suggest this is driven by several structural factors.
Many younger investors prioritize financial flexibility. TD research4 found that over one-quarter of Gen Z and millennial respondents preferred to keep TFSA funds readily accessible. Others reported feeling they had not saved enough to begin investing or were unsure how to select appropriate investments.
There is also confusion about account selection. A significant portion of younger Canadians report uncertainty about when to use TFSAs versus RRSPs, which can lead them to delay investing decisions.
Economic pressures also play a role. Findings for Willful by the Angus Reid Institute6 show that many Canadians have relied on savings to cover living expenses in recent years. Younger households, often facing higher housing costs and income variability, may favour liquidity over long-term growth.
Making your TFSA work harder for you
For many investors, opening and contributing to a TFSA is an important financial milestone. But what happens after the contribution is made can be just as important as making it in the first place. It can be tempting to treat a TFSA like a simple savings account, especially when flexibility and quick access to funds feel reassuring.
While holding some cash for short-term needs can make sense, maintaining large cash balances over long periods limits the account’s true potential. Since TFSA growth is completely tax-free, the account is uniquely positioned to support long-term wealth building when contributions are thoughtfully invested and diversified.
Even small changes in how your TFSA assets are allocated can have a meaningful impact over time. A diversified investment approach can help balance accessibility with long-term growth, allowing savings to remain available while still benefiting from market opportunities.
Shane Dewling believes that “professional guidance can help ensure your TFSA contributions are fully working for you. A well-structured TFSA should reflect your broader financial goals, maintain appropriate liquidity, and support long-term growth through diversification.”
If you would like to better understand how your TFSA fits into your overall financial plan, speaking with an advisor can help you explore strategies designed to balance flexibility, cost efficiency, and long-term growth potential.
1 TFSA usage drops as Canadians cope with higher cost of living: BMO
2 BMO Savings Study: Cash is King in TFSAs
3 Canadians using TFSAs more for savings than investments: survey
4 Two-fifths of Canadians with TFSAs are sitting on cash: survey
5 Are you making this common TFSA mistake?
For general information purposes only. Not intended as professional advice. Please consult a qualified professional for advice specific to your situation.
Aging and the Brain: 8 Ways You Can Prep Your Brain for the Long Haul
Contributed by: TELUS Health
Millions of people worldwide have dementia with ten million new cases developing each year, according to the World Health Organization.
Given the rise in incidences of dementia and the emotional and financial toll it takes on families and caregivers, it’s no wonder brain health and memory loss are top health concerns today. And while there is no cure for dementia, there are things you can do to support the health of your brain.
Engage in regular physical activity
Physical activity is associated with the creation of new brain cells, mostly in the learning and memory areas of the brain. Aerobic activity, such as running or swimming, helps increase certain chemicals in the brain that contribute to mental alertness and focus. Even low-intensity exercise, such as stretching and balance, was shown to keep cognitive decline from advancing in adults with mild memory problems.
Get a good night’s sleep
Think of a good night’s sleep as a way to detox the brain and to transform temporary memories into long-term ones, whereas impaired sleep is a risk factor to brain health. Quality sleep—7 to 9 hours each night, experts advise—is associated with improved learning and memory.
Eat for brain health
The Mediterranean diet has been significantly linked to many health benefits, including reduced risk of dementia and Alzheimer’s disease. Foods, such as fish with omega-3 fatty acids, leafy greens, fruit, whole grains, and olive oil have antioxidant and anti-inflammatory properties. Likewise, diets consisting of foods that may cause inflammation, such as those with saturated fats, added refined sugar, and processed foods, have been associated with an increased risk of dementia.
Keep learning, solving… and building
Cognitive reserve is how the brain effectively adapts and functions even through age-related changes or damage. Building cognitive reserve is key to protecting against cognitive decline. Factors, such as having a formal education or a complex occupation as well as participating in lifelong learning and engaging activities—such as reading, playing an instrument, and solving puzzles—were shown to contribute to cognitive reserve.
Connect with friends and family
Strong social ties are vital, providing you with practical and emotional support. Social relationships support not only your mental health, helping to stave off symptoms of depression and anxiety, but have also been associated with sustained cognitive functioning and reduced risk of dementia.
Manage stress
Some stress can be beneficial, driving us to tackle challenging situations that arise. But prolonged stress has been linked to adverse changes to the brain and a decline in cognitive processes, such as problem-solving and memory. Many tips suggested here can help you manage stress, such as physical activity and connecting with loved ones. Other ways to reduce stress include meditation, mindfulness exercises, and engaging in self-care practices.
Abstain from or limit alcohol and avoid smoking
Several risk factors have been linked with dementia, including smoking and excessive alcohol use. Smoking increases the risk of damage to blood vessels in the brain, a risk factor for dementia. Heavy alcohol use is also associated with changes in the brain’s structure and many diseases of the brain, all risk factors for dementia.
See your doctor regularly
Regular checkups and screenings can help you to prevent or manage conditions, such as high blood pressure and diabetes, which may be risk factors for cognitive decline. Note that some dementia symptoms may be attributed to other conditions. So, if you have questions or concerns about memory loss, it’s best to raise them with your doctor.
Health experts often give similar recommendations with the aim of helping to boost overall health and wellbeing. But it’s clear to see that the tips here are also in support of cognitive function, memory, and long-term brain health—all the more reason to give them a try.
This information is provided to supplement the care provided by your health care provider and is not to be used as a substitute for professional medical advice. Always seek the advice of your health care provider if you have questions about a medical condition or plan of treatment.
Understanding the Connection Between Positivity and Physical Health
Contributed by: TELUS Health
The science behind positive thinking
Positive emotions contribute to our wellbeing but can also impact our physical health. Multiple studies have shown that there’s a direct connection between health and outlook; researchers at the Harvard School of Public Health have found that positive thinking is linked to reduced risk of cardiovascular events. One study showed that people with a more positive outlook were quicker to recover from traumatic physical illness. Researchers have also noted that a positive mood might have an effect on immune system functions and heart health.
How exercise affects your mood
The endorphins released through exercise can make you happy, and feeling healthy makes it easier to be optimistic about the future. So, if you’re looking for a healthier lifestyle, positive thinking might be a good place to start!
In contrast, negative thinking can have an adverse effect on the body. At times you might find yourself thinking, “Nothing matters; I might as well skip a workout” or “I know it’s nice outside and a walk would be good, but I can’t be bothered right now.” Negative thinking, or worry, can also have the following impacts on the body:
- muscle tension and muscle pain
- headaches
- digestive problems
- chest pain
- reduced libido or sex drive
- sleep problems
- fatigue
Physical changes like these can help you recognize your mental health might be at risk. If you’ve been experiencing any of the above symptoms, it might be worthwhile to consider how your thinking habits may be playing a role.
Practical steps to better wellbeing
You might find it useful to:
Manage your moods:
Take practical steps to start your day with an upbeat attitude and keep it going. You might practise giving yourself a daily positive affirmation when you wake up or remind yourself to take “mindful moments”—quick pauses to breathe and get centred—as you go about the rest of your day.
Cultivate optimism:
You can foster optimism in yourself. As Martin Seligman wrote in his book Learned Optimism: "Anytime you find yourself down or anxious or angry, ask what you are saying to yourself. Sometimes the beliefs will turn out to be accurate; when this is so, concentrate on the ways you can alter the situation and prevent adversity from becoming disaster. But usually, your negative beliefs are distortions. Challenge them. Don't let them run your emotional life." In short, optimists tend to perceive themselves as having the power to overcome challenges.
Keep a list of helpful thoughts and messages
Whenever you come across a helpful and positive idea or quote that makes sense to you, write it down. These may be positive thoughts, calming thoughts, humour—anything that you notice helps put you in a better mood. Add these to your "library" of messages to draw from every morning to begin your day.
Surround yourself with people who give you a boost
Both positivity and negativity can be highly contagious. Which would you want to catch? Spend time with those who bring out the joy and optimism in you.
The benefits of positivity
Positivity and physical health are closely related. Making the time and effort to cultivate positivity can provide several health benefits, to name a few:
- lowered stress levels
- reduced risk of heart disease
- enhanced immune function
- increased longevity
So what are you waiting for? Invest in your wellbeing today!
Managing Your Tax Bracket After Retirement: 10 Smart Steps to Follow
Retirement marks a new chapter in your financial plan, not the end. It's a shift from building wealth to preserving it, and that shift comes with new considerations. Once you’re no longer earning clinical income, managing your tax bracket in retirement becomes just as essential as managing your investments.
“Dentists often focus on the clinical side of their careers and practice growth,” says Matthew Wright, Investment Planning Advisor, CDSPI Advisory Services Inc. “But once you step back from practice, how you structure withdrawals and plan your income can have just as big an impact on your wealth as your investment returns.”
Why tax bracket management matters
In retirement, your income typically comes from a mix of registered and non-registered investments, government benefits, and any other sources like rental income, corporate holdings, or professional corporations. Even if your total income is lower, your marginal tax rate can still stay high if you aren’t intentional about how and when you access these funds.
For dentists with a Dental Professional Corporation (DPC) or holding company, the planning stakes are even higher. The Lifetime Capital Gains Exemption (LCGE) can allow you to shelter up to $1.25 million (2025 limit) in capital gains when selling qualified small business corporation shares— which may include shares of your professional corporation provided that various conditions are met. Coordinating LCGE use, corporate investment withdrawals, and personal income can significantly affect your retirement tax bracket and estate value.
Without a thoughtful plan, you could face Old Age Security (OAS) Recovery Tax, missed opportunities to draw down your Registered Retirement Savings Plan (RRSP) before converting it to a Registered Retirement Income Fund (RRIF), or a large tax bill on your estate from capital gains and probate fees.
The Smart Approach
Whether you’re selling a dental practice, winding down a corporation, or drawing from other investments, the right strategy can make a significant difference to your retirement income. For practice owners, that may mean ensuring the sale qualifies for the Lifetime Capital Gains Exemption (LCGE) and timing withdrawals from your corporation or holding company to stay in a favorable tax bracket year after year. “With careful planning, we can often significantly reduce the tax bill on a practice sale and plan for substantial tax savings for future years,” says Francis Lanois, Partner, MNP. “That means more of your hard-earned value stays in your hands—and can work for you in retirement.”
10 Practical Steps to Manage Taxes and Protect Your Wealth
1. COORDINATE WITHDRAWALS ACROSS ACOUNT TYPES
Balance withdrawals from RRSPs/RRIFs, Tax Free Savings Accounts (TFSAs), non-registered accounts, and if you have a holding company or Dental Professional Corporation (DPC). For example, in years when your investment income or capital gains are higher, you might draw more from your TFSA to prevent moving into a higher tax bracket.
2. TIME YOUR WITHDRAWALS TO REDUCE YOUR TAX BILL
You can’t completely avoid taxes in retirement, but you can control when and where income comes from. For example, starting RRSP withdrawals before age 72 can spread income over more years, reducing the risk of higher tax brackets and Old Age Security (OAS) claw-backs later. The extra cash you need could come from a TFSA, non-registered accounts, or retained earnings in your DPC.
3. MAKE THE MOST OF SURPLUS ASSETS/STRATEGIC GIFTING
If you have more than you’ll need for your lifetime, you could use surplus funds to help family members now and reduce your estate’s future tax bill. This might mean funding a Registered Education Savings Plan (RESP) for a grandchild, gifting cash to an adult child for a home purchase, or buying a corporately owned life insurance policy to transfer wealth tax-efficiently.
4. KEEP CONTRIBUTING TO YOUR TFSA
There’s no age limit for TFSA contributions, and withdrawals are always tax-free. Even small amounts added each year can grow significantly over time, and using corporate dividends (after-tax) to fund TFSA contributions can be especially effective.
5. CONSIDER INCOME SPLITTING IN RETIREMENT
Once you turn 65, RRIF withdrawals and certain annuity payments qualify for pension income splitting rules. This allows you to shift up to 50% of that income to a spouse or common-law partner in a lower tax bracket, reducing your household’s total tax bill.
6. DELAY CPP AND OAS (IF IT MAKES SENSE)
If you have other income sources early in retirement, such as corporate dividends or non-registered investments, you might delay CPP and OAS to increase the monthly payments you’ll receive later and help keep your income lower in the early years.
7. MONITOR THE OAS CLAW-BACK THRESHOLD
If your income nears the annual OAS claw-back threshold, you could reduce RRIF withdrawals, postpone realizing capital gains, or draw instead from your TFSA to stay below the limit.
8. EXPLORE CHARITABLE GIVING
Making donations to registered charities, either personally or from your corporation, can generate valuable tax credits. Larger gifts can be planned in years when your taxable income is higher, such as after selling off investments or a practice.
9. INTEGRATE CORPORATE AND PERSONAL TAX PLANNING
As a professional corporation, align your compensation strategy with your personal financial goals. For example, consider paying yourself enough salary to maximize RRSP contribution room, while balancing dividends to access funds more tax-efficiently without pushing yourself into a higher tax bracket. TFSA contributions, meanwhile, can always be maximized regardless of your income mix.
10. REVIEW YOUR PLAN REGULARLY WITH EXPERT GUIDANCE
As you enjoy retirement your health, goals, or lifestyle might shift over time. Your retirement plan and investment approach should be flexible enough to pivot as your needs evolve.
Tax strategies in retirement aren’t one-size-fits-all. Your income mix, personal goals, and timing all play a role, and expert guidance can help you get it right.
An advisor from CDSPI Advisory Services Inc. can help you develop a personalized post-retirement plan that aligns with your complete financial picture—from insurance and investments to tax and estate planning. Through our partnership with MNP, you have access to trusted tax and accounting advice tailored to your needs. Additionally, our partnership with Scotiabank provides specialized banking solutions designed for healthcare professionals.
Speak with an investment advisor to review your income strategy and explore ways to manage your tax bracket more effectively in retirement.
This information is intended for informational purposes only. For specific situations you should consult the appropriate financial, legal, accounting or tax advisor.
CDSPI Announces New President, Cory Garlough
We’re pleased to share that Cory Garlough will be joining CDSPI as President, effective January 12, 2026. Cory’s appointment follows Ed Dermit’s decision to retire as President & CEO of CDSPI in 2026.
Cory brings more than 20 years of senior leadership experience in financial services, with deep expertise across operations, governance, people leadership, and client-focused environments. He is a collaborative, values-driven leader with a strong track record of translating strategy into execution and building high-performing teams.
CDSPI plays a unique role in supporting the financial well-being of Canadian dentists and their families. The Board of Directors is confident that Cory’s leadership will build on this strong foundation while positioning the organization for its next chapter.
We look forward to welcoming Cory and continuing to work alongside dental associations, partners, and the dental community across Canada.
The Year in Learning: Five must-read insights for dental professionals
In 2025, dentists across Canada looked to the CDSPI Learning Hub to navigate complex financial, professional, and community-focused decisions. Here are five standout articles to put on your end-of-year reading list.
#1 Pay Up or Else! The Rise of Ransomware
Cybersecurity remains a growing concern for clinics and Pay Up or Else! The Rise of Ransomware provides a timely overview of the threat landscape. The piece explains how ransomware enters systems, why negotiations sometimes occur despite guidance not to engage, and the significant business disruption that can follow an attack. Importantly, it reinforces that ransom payments often represent only a small portion of total costs, making prevention and preparedness essential.
#2 Balancing Debt and Investing: A Guide for Dentists
Balancing Debt and Investing: A Guide for Dentists offers a clear and reassuring look at how to manage debt in a way that supports long-term wellbeing. The article distinguishes between debt that builds future opportunity, like student loans, which continue to support higher lifetime earnings, and mortgages used to acquire appreciating assets, and high-interest consumer debt that can erode financial stability. It also highlights the importance of building a strong credit history and maintaining a balance between paying down debt and investing early to benefit from compound growth.
#3 Handling the Financial Side of "Divorcing Dentistry"
In Handling the Financial Side of “Divorcing” Dentistry the financial realities that accompany the emotional decision to step back from clinical work in the spotlight. The piece emphasizes the importance of planning for changes to cash flow, benefits, debt timelines, and practice value, while encouraging dentists to build financial buffers and explore non-clinical pathways. It also underscores the value of early conversations and professional guidance to ensure any transition is thoughtful and sustainable.
#4 Building a Cash Flow Plan
For dentists considering ownership, Building a Cash Flow Plan outlines how careful planning supports long-term success. The article introduces the “Core Four” pillars: Revenue Sources, Fixed Costs, Variable Costs, and Personal Living Expenses, and explains how planning needs differ when starting a practice versus purchasing one. It highlights common pitfalls, including insufficient working capital and delayed insurance planning.
#5 When Caring Becomes a Calling: Dr. Raj Khanuja
Rounding out the list, When Caring Becomes a Calling: Dr. Raj Khanuja shares the inspiring story of Dr. Raj Khanuja and the creation of National Dental Care Day. The profile highlights how a single act of compassion evolved into a national movement providing essential no-cost care to patients who often fall outside public programs, and how other clinics are joining the effort.
Together, these articles reflect the year’s most meaningful conversations—financial clarity, digital literacy, cybersecurity resilience, ownership readiness, and the profession’s deep commitment to community care.