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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/
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Daberistic
Agenda
• About Daberistic
• About Kevin Yeh
• Medical aid options• Supplementary health insurance product
• Retirement fund options
• Our services
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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
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Daberistic
Daberistic Accountants & Auditors
• Partners are CA(SA), Registered Auditor
• Accounting
• Taxation – tax returns
• Secretarial services – company registrations• Assurance – statutory auditing, internal auditing
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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
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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
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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
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MEDICAL AID OPTIONS
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Medical aid product providers
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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
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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%
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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
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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
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RETIREMENT FUND OPTIONS
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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
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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
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Retirement fund providers
http://www.oldmutual.co.za/http://www.oldmutual.co.za/
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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
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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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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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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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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
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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/