GTC in the News

Will South Africans really have ‘free healthcare’?

June 2023 On June 12, the National Assembly passed the National Health Insurance (NHI Bill) aimed at creating universal access to healthcare services in South Africa. But, in GTC’s estimation, South Africa is, unfortunately, light-years away from meeting our healthcare objectives, with many more questions than answers – many of which still seem unresolvable… Click here and here to read the full articles.  

Quarterly market performance reveals volatility despite positive returns

May 2023 South Africa experienced a promising market performance during the first quarter of 2023, with various asset classes showing positive returns.  However, these favourable outcomes mask underlying challenges that are expected to persist in the near future. Click here to read the full article. Click here to listen to the interview on Power 98.7

FSCA Conduct Standard 1 of 2022 – Effective 19 February 2023

Why Section 13A is important to you – the employer? New Requirements Related to the Payment of Pension Fund Contributions Sabir Bacus, Head of Legal at GTC gave his perspective on the important aspects of the Conduct Standard. When it comes to retirement funds, an employer has a number of legal responsibilities to perform. One such important duty is to pay contributions, due in terms of the registered rules, over to their retirement fund. This duty is considered so important that not only has it found its way into the Act, but it also carries a criminal sanction for non-compliance. The Financial Sector Conduct Authority (FSCA) has issued a Conduct Standard which sets the standards and requirements in respect of the monthly member data and payment of contributions. This Conduct Standard impacts employers directly. It may be that changes to...
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PMR interview with GTC – Award winners for 5 consecutive years

Interview with Johan Hattingh – CEO of PMR and Gary Mockler – CEO of GTC. Johan Hattingh: Morning Gary. For the readers – Gary Mockler is the CEO of GTC. Congratulations on this year’s PMR Arrow Award. GTC has won the top-ranking Diamond Award of Excellence for the past five years. Additionally, over the last five GTC has the highest score of any company in your category. We’d like to know some more about you guys.      So specifically, who is GTC, where did you come from, and is GTC an acronym for a longer name? Gary Mockler: Whew, a short question which requires a longer answer. We used to be Grant Thornton Capital, integrally part of the global audit practice – Grant Thornton.  In fact, we pre-date Grant Thornton Capital. In 1991 we started our business as part...
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South African medical aid increases

Medical aid scheme increases in South Africa 25 August 2022 Medical schemes typically increase their contributions in January each year.  The Covid pandemic disrupted this routine, and many schemes deferred their 2022 increases, with the biggest open medical scheme, Discovery, first deferring its increases from January to May 2022, and then until October.  While the January to May 2023 increases have not yet been announced, Discovery has confirmed a 7.9% increase in October.  Other schemes increased their contributions earlier in the year, although many were also deferred.  The October increases will almost certainly be followed by scheduled increases in January 2023, says Jill Larkan, Head of Healthcare Consulting at leading financial and wealth advisory business GTC.  “Interim increases are administratively expensive and disruptive, and we suspect schemes will return to the traditional January increase date from next year”. Jill Larkan...
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