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What certainty does a member have that the benefits offered by his scheme are guaranteed?

April 26, 2017Benefits certainty guaranteed offered Scheme

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What certainty does a member have that the benefits offered by his scheme are guaranteed?

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In terms of the Act a medical scheme must at all times have assets to cover its liabilities. Furthermore, a scheme must, over a period of time, hold surplus or accumulated funds equal to at least 25% of gross annual contributions to ensure financial stability.