Daberistic - Medical Aid and Retirement Fund Services March 2016

8/18/2019 Daberistic - Medical Aid and Retirement Fund Services March 2016

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Daberistic

Medical Aid and RetirementFund Options

www.daberistic.com

Kevin Yeh, CFP®

Daberistic Financial Services

Creating Financial Security, Prosperity and Wealth

http://www.daberistic.com/http://www.daberistic.com/


2/24

Daberistic

Agenda

• About Daberistic

• About Kevin Yeh

• Medical aid options• Supplementary health insurance product

• Retirement fund options

• Our services


3/24

Daberistic

Daberistic Financial Services

• Authorised financial services provider, FSP #25477

• “One-stop shop” offering

– Wealth management – Retirement fund

– Business insurance

– Life insurance

– Medical aid – Car and household insurance

• Level 4 BBBEE Contributor


4/24

Daberistic

Daberistic Accountants & Auditors

• Partners are CA(SA), Registered Auditor

• Accounting

• Taxation – tax returns

• Secretarial services – company registrations• Assurance – statutory auditing, internal auditing


5/24

Daberistic

About Kevin Yeh

• Key Individual and Director of Daberistic Financial

Services

• CERTIFIED FINANCIAL PLANNER® with actuarial

qualifications

• Discovery Gold Broker; MDRT TOT qualifier

• 19 years of experience in the financial services sector

ranging from healthcare, employee benefits, retirement

funds, life insurance, investments, financial planning and

operational management.

• Personal finance columnist for Chinese newspapers

• Chairman Johannesburg Taiwanese Chamber of

Commerce


6/24

Daberistic

Some of our product providers

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=8XILNRGy9PEeBM&tbnid=ygNtaGok1hEaXM:&ved=0CAUQjRw&url=http://www.rustuoglusigorta.com/&ei=BUXWUar6FujC0QWq_oGADQ&psig=AFQjCNEt6GWXFmVaguHsM5-Qh4TdmNJpkQ&ust=1373083263938533http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=8XILNRGy9PEeBM&tbnid=ygNtaGok1hEaXM:&ved=0CAUQjRw&url=http://www.rustuoglusigorta.com/&ei=BUXWUar6FujC0QWq_oGADQ&psig=AFQjCNEt6GWXFmVaguHsM5-Qh4TdmNJpkQ&ust=1373083263938533http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=3QXammNDAuFnPM&tbnid=TZbVCHJZeoSRQM:&ved=0CAUQjRw&url=http://twbroking.co.za/serviceproviders.html&ei=pkTWUbLdK4Ls0gX5k4GIDA&psig=AFQjCNF5pLBgQd8KkV5ZcFK-J30F2f_LUQ&ust=1373083166748550http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=3QXammNDAuFnPM&tbnid=TZbVCHJZeoSRQM:&ved=0CAUQjRw&url=http://twbroking.co.za/serviceproviders.html&ei=pkTWUbLdK4Ls0gX5k4GIDA&psig=AFQjCNF5pLBgQd8KkV5ZcFK-J30F2f_LUQ&ust=1373083166748550http://www.oldmutual.co.za/http://www.oldmutual.co.za/http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=M3TPovxZKngr9M&tbnid=l4k4vuhs0kmUEM:&ved=0CAUQjRw&url=http://logok.org/baosteel/&ei=vxLBUdreDMSe0QXmwoHgCw&psig=AFQjCNEEk_omm9dU3HuDvpXFxUwHKXKkEw&ust=1371694135126300http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=M3TPovxZKngr9M&tbnid=l4k4vuhs0kmUEM:&ved=0CAUQjRw&url=http://logok.org/baosteel/&ei=vxLBUdreDMSe0QXmwoHgCw&psig=AFQjCNEEk_omm9dU3HuDvpXFxUwHKXKkEw&ust=1371694135126300


7/24Daberistic

Our clients

東方商城集團

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=n3tKYycAp9xUxM&tbnid=FMy-D-UUEKFedM:&ved=0CAUQjRw&url=http://www.nipic.com/show/3/81/1d3ddee04215f41d.html&ei=2z7WUaT9JcGn0QX_94HgDA&psig=AFQjCNHu69sZ3-5tcQFBVl_uSWjiczveeA&ust=1373081587909834http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=n3tKYycAp9xUxM&tbnid=FMy-D-UUEKFedM:&ved=0CAUQjRw&url=http://www.nipic.com/show/3/81/1d3ddee04215f41d.html&ei=2z7WUaT9JcGn0QX_94HgDA&psig=AFQjCNHu69sZ3-5tcQFBVl_uSWjiczveeA&ust=1373081587909834http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=mMkd1meliWFq2M&tbnid=KUnVz58gaa4LCM:&ved=0CAUQjRw&url=http://www.csrgc.com.cn/&ei=Jj7WUZLSBaim0wWVp4CoBg&psig=AFQjCNEWbUSZAK3S8rBXt9eDqdtMEKI2gg&ust=1373081505284001http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=mMkd1meliWFq2M&tbnid=KUnVz58gaa4LCM:&ved=0CAUQjRw&url=http://www.csrgc.com.cn/&ei=Jj7WUZLSBaim0wWVp4CoBg&psig=AFQjCNEWbUSZAK3S8rBXt9eDqdtMEKI2gg&ust=1373081505284001http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=6htKGkmDVwy_jM&tbnid=ecvP1KYj_nbvSM:&ved=0CAUQjRw&url=http://www.showchina.org/zgqy/3/201004/t611974.htm&ei=8hTBUa-jN8q_0QXc5IHgCw&psig=AFQjCNG1xg39iNqWjnJc-BwUGP-FNGH5tQ&ust=1371694670994779http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=6htKGkmDVwy_jM&tbnid=ecvP1KYj_nbvSM:&ved=0CAUQjRw&url=http://www.showchina.org/zgqy/3/201004/t611974.htm&ei=8hTBUa-jN8q_0QXc5IHgCw&psig=AFQjCNG1xg39iNqWjnJc-BwUGP-FNGH5tQ&ust=1371694670994779http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=M3TPovxZKngr9M&tbnid=l4k4vuhs0kmUEM:&ved=0CAUQjRw&url=http://logok.org/baosteel/&ei=vxLBUdreDMSe0QXmwoHgCw&psig=AFQjCNEEk_omm9dU3HuDvpXFxUwHKXKkEw&ust=1371694135126300http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=M3TPovxZKngr9M&tbnid=l4k4vuhs0kmUEM:&ved=0CAUQjRw&url=http://logok.org/baosteel/&ei=vxLBUdreDMSe0QXmwoHgCw&psig=AFQjCNEEk_omm9dU3HuDvpXFxUwHKXKkEw&ust=1371694135126300http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=s3VpgCm2AXDzMM&tbnid=ItyNdaE6PoMxEM:&ved=0CAUQjRw&url=http://cosrenshippingptyltd.yellowpages.co.za/&ei=fRLBUYHTIOjL0QXM-oGwCw&psig=AFQjCNEJ5PSiaGsr1JeGMjNGtSH6rsoosQ&ust=1371693926079079http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=s3VpgCm2AXDzMM&tbnid=ItyNdaE6PoMxEM:&ved=0CAUQjRw&url=http://cosrenshippingptyltd.yellowpages.co.za/&ei=fRLBUYHTIOjL0QXM-oGwCw&psig=AFQjCNEJ5PSiaGsr1JeGMjNGtSH6rsoosQ&ust=1371693926079079http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=WCXOlxrRuws2aM&tbnid=9QKoSSGsn-_iCM:&ved=0CAUQjRw&url=http://www.africanidade.com/articles/2521/1/Mota-Engil-prevA-facturar-279-milhAes-de-euros--em-Angola-em-2009/Paacutegina1.html&ei=A-yZUcvIGub80QWR7YCgCA&psig=AFQjCNGTev_XKhH4eSq3-ailwn61_-qInQ&ust=1369128167930655http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=WCXOlxrRuws2aM&tbnid=9QKoSSGsn-_iCM:&ved=0CAUQjRw&url=http://www.africanidade.com/articles/2521/1/Mota-Engil-prevA-facturar-279-milhAes-de-euros--em-Angola-em-2009/Paacutegina1.html&ei=A-yZUcvIGub80QWR7YCgCA&psig=AFQjCNGTev_XKhH4eSq3-ailwn61_-qInQ&ust=1369128167930655


8/24Daberistic

MEDICAL AID OPTIONS


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10/24

Daberistic

Medical aid product providers


11/24

Daberistic

What to consider when selecting a

medical aid

• Financials – solvency ratio, underwriting

result, operating surplus, expense ratio

• Demographics – number of beneficiaries,

pensioner ratio, growing membership

• Premium increase history

• Benefit options• Service – claims, queries

• Wellness and loyalty program


12/24

Daberistic

Medical schemes comparison

Medical Scheme Number of

beneficiaries Solvency ratio

Discovery Health 2 564 313 24.3%

Bonitas 650 600 33.3%

Medihelp 220 710 30.4%

Momentum Health 212 378 31.0%

Bestmed 185 750 29.2%

Medshield 171 650 52.2%

Fedhealth 147 538 40.2%

Sizwe 135 417 33.9%

Liberty Health 118 281 24.4%

KeyHealth 76 738 29.5%


13/24

Daberistic

Medical schemes comparison

57%14%

5%5%

4%4%

3%3%

3%

2%

Number of beneficiaries

Discovery Health

Bonitas

Medihelp

Momentum Health

Bestmed

Medshield

Fedhealth

SizweLiberty Health

KeyHealth

Source: Council for Medical Schemes, 2013


14/24

Daberistic

Supplementary health

insurance product

• Gap cover

– Short-term insurance product

– Covers shortfall of in-hospital specialists fees

– Covers co-payments for procedures and

hospitalisation

– Has 3-month waiting period and exclusions

– Can reduce healthcare costs

• Recommended provider: Sirago


15/24

Daberistic

RETIREMENT FUND OPTIONS


16/24

Daberistic

Our retirement fund consulting

services

• Independent research and advice

• Comparative quotes

• Arrange presentations by providers• Implement retirement fund solution

– Group presentations

– Individual face to face financial planningsessions


17/24

Daberistic

Our retirement fund consulting

services

• Ongoing advice and service

– Dedicated internal consultant

– New services and products

– Member admin and claim queries

– Annual member benefit statements

– Annual members’ presentation

– Voluntary individual member financial

planning reviews

– Review of product providers as necessary


18/24

Daberistic

Retirement fund providers

http://www.oldmutual.co.za/http://www.oldmutual.co.za/


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Daberistic

What to consider

• Benefits

• Member investment choice

• Costs• Online administration and functionality

• Member communication

• National Social Security Reform – restrictswithdrawal on change of jobs, restricts

lump sum payment to 1/3 on retirement


20/24

Daberistic

Options

1. Provident Fund with risk benefits

2. Pension Fund with risk benefits

3. Group Risk Benefits and GroupRetirement Annuity

Most employer groups join an umbrella fund

for lower cost, admin and fiduciary dutiesGeneral contribution rate: Employer 5% -

12.5%, employee 5% - 7.5% of salary


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Daberistic

Group risk benefits

• Typical benefit structure

– Death benefit: 4 times annual salary

– Income continuation benefit: 75% of salary

– Severe Illness benefit: 1 times annual salary

– Funeral benefit

– Optional: lump sum disability benefit, child

education protector, medical aid contributionwaiver

– Benefits can be upgraded


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Daberistic

Retirement fund comparison –

prior to 1 March 2016Pension Fund Group

Retirement

Annuity

Provident Fund

Employer

contribution

In practice up to

20% if justifiable

Up to 15% of

taxable income

In practice up to

20% if justifiable

Employee

contribution

7.5% Not tax deductible

On resignation Can withdraw or

transfer

Cannot withdraw,

can transfer to

individual RA

Can withdraw or

transfer

On retirement Up to 1/3 paid outas lump sum,

balance as

annuity

Up to 1/3 paid outas lump sum,

balanced as

annuity

Currently Canhave full amount

paid out as lump

sum


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Daberistic

Retirement fund comparison –

from 1 March 2016Pension Fund Group

Retirement

Annuity

Provident Fund

Employer

contribution

Up to 27.5% of taxable income, tax-deductible in the hands

of employee

Employee

contribution

On resignation Can withdraw or

transfer

Cannot withdraw,

can transfer to

individual RA

Can withdraw or

transfer

On retirement Up to 1/3 paid outas lump sum,

balance as

annuity

Up to 1/3 paid outas lump sum,

balanced as

annuity

Currently Canhave full amount

paid out as lump

sum


24/24

Daberistic

Medical Aid and RetirementFund Options

www.daberistic.com

Contact: Kevin YehOffice: 011 658 1333

Mobile: 083 633 4671

Email: [email protected]
http://www.daberistic.com/http://www.daberistic.com/

Documents

Daberistic - Medical Aid and Retirement Fund Services March 2016