What are monthly contributions and how are they calculated?


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Monthly contributions for employer groups, pensioners and private individuals are set out in the contribution tables of the Fund. All monthly contributions are determined following a comprehensive actuarial risk assessment of the inherent risks associated and arising from the demographic and claims profile of the Fund or an employer group.

 

Monthly membership contributions to the Fund are based on the age of the principal member. The age of the principal member in January of each financial year will determine the age category and therefore the monthly contributions for the remainder of that financial year. Monthly contributions are not increased in accordance with the principal member’s birthday during the course of the year.

 

Use our online contribution calculator to determine you monthly contribution.

 

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