In these current market conditions, if you have a job, hold on to it. Resigning from a job without a new one lined up, just to access the money saved in your retirement fund can have devastating consequences down the line. Steer clear of your retirement fund.
The COVID-19 pandemic has resulted in slow economic growth during 2020, and while it may be tough for many of us to save for a rainy day, a little effort in this regard can go a long way.
We would like to inform you that, as of 1 October 2020, we have new IPMI rates in place for the UK & Rest of the World (‘ROW’) (excluding the European Economic Area ‘EEA’). If you conduct business in the EEA, you will also receive an email update about Bupa Global IPMI rates for that region.
The Council for Medical Schemes (CMS) has issued revised guidelines for medical schemes with regards to the payment of COVID-19 tests. Under these new guidelines, schemes must pay for all COVID-19 tests, whether they are positive or negative, from Risk and not from members’ day-to-day benefits if the member is a ‘person under investigation’ or PUI.
The South African Revenue Service (SARS) have put several tax incentives in place to encourage us to save more for our retirement and other long-term goals. As the end of the tax year is approaching, now is a good time to maximise the available tax benefits.
2020 Contribution Adjustments: Medshield Medical Scheme – Premium Plus – 12.5% increase.