Medical aid risk assessment: The oft-overlooked responsibilities in King III
Medical Aid Risk Assessment, by Jillian Larkan, Head of Healthcare Consulting at GTC 17 September 2015 South African companies are well acquainted with the concept of corporate governance and risk management, as succinctly outlined in the King III Report on Corporate Governance. This set of guidelines has become a standard for all businesses who take their reputation seriously, and it has undoubtedly contributed to the country consistently ranking tops among the world’s most compliant economies. One aspect that may be overlooked by many, however, is a company’s roles and responsibilities with regard to the organisation’s chosen medical aid provider. The reason it tends to be overlooked is that it is not specified in King III, even though it clearly falls within the ambit of two important provisions in the code. All too often the annual review of a medical aid provider... Read More
Medical Aids – Are we in for greater pricing regulation?
7 September 2015 The Council for Medical Schemes (CMS) annual report released last week provides for much reflection on the state of cover for medical expenses in South Africa. That which is most interesting is the unspoken, but intimated suggestion that the country may be moving to an environment of greater regulation of medical care pricing. CMS chairman Prof. Yusuf Veriava writes in his report of the introduction of prescribed medical benefits (PMBs) in 2004 and how the intention to provide access to basic and adequate healthcare had been overthrown by the 2010 High Court judgment that set aside the National Health Reference Price List (NHRPL) regulations. “Controversial as they are, PMBs remain the perfect mechanism to link the future National Health Insurance (NHI) system with the private healthcare financing industry,” he wrote. Jill Larkan, Head of Healthcare Consulting at... Read More
New GTC Healthcare research reveals that navigating medical aid plan choices is unnecessarily complicated
9 June 2015 Choosing a medical aid to suit an individual or family’s needs remains a daunting task, and unnecessarily so. “It’s not the wide range of medical aid providers which makes this choice difficult, but rather it is the fact that these providers make it nearly impossible to formulate meaningful comparisons between the different plans,” says Jill Larkan, head of GTC Healthcare Consulting at SA’s established and leading financial advisory business GTC. “We seem to be in a situation where the providers are trying to make their plans more attractive by adding on multiple options which actually ends up making comparisons even more difficult.” Larkan has first-hand experience of the difficulties which medical aid members face by virtue of the GTC Medical Aid Survey that is compiled by the Healthcare Consulting team on an annual basis. This survey is... Read More
GTC’s need for speed wins best in class and brand recognition
May 2015 GTC, a leading South African financial advisory services business, sponsors a twin turbo charged Nissan 350Z race car. Amongst its achievements, the GTC race car recently won its class, whilst also being faster than a number of other cars in higher categories including some Mitsubishi Evo’s, the Ferrari 458, some Wesbank V8’s and some of the Porsches. Sponsored by GTC, Mark White Nissan, Motul and Stingray Graphix, this was the first competitive race for GTC’s Nissan and the team was delighted to win its class as newcomers to the racetrack. The GTC race car competed in the Simola Hill Climb, “King of the Mountain” event in the highly competitive 6-cylinder forced induction category for two-wheel drive cars. The annual event is held in Knysna and this year’s King of the Mountain race took place from 15 to 17... Read More
GTC wins 2025 PMR Diamond Arrow Award of Excellence
August 2025 PMR Diamond Arrow Award of Excellence – Eight years on top! GTC has once again been recognised as South Africa’s top-rated retirement fund administrator and consultant, receiving the 2025 PMR.africa Diamond Arrow Award of Excellence – our eighth consecutive year as the highest-rated pension fund administrator, consultant, product provider, and insurer in our category nationally. Based on an independent national survey conducted by PMR.africa, this award reflects GTC’s industry-leading performance across 25 key criteria, including administrative accuracy, communication, innovation, retirement benefit counselling, client support, and overall value. Respondents included principal officers and trustees of large pension and provident funds across the country. This recognition is a powerful reminder that the work we do matters – and that how we do it is what sets us apart. Excellence at GTC is not just a goal – it’s a culture... Read More
GTC wins 2024 PMR Diamond Arrow Award of Excellence
August 2024 GTC has proudly secured the PMR Africa Diamond Arrow Award of Excellence for 2024, continuing a remarkable streak as the top-ranked company in its category. This marks the seventh consecutive year that GTC has been honoured with this prestigious award, further solidifying our position as a leader in South Africa’s employee benefits industry. This achievement is more than just an accolade – it’s a powerful recognition from our clients and industry peers of GTC’s unwavering commitment to excellence and our significant impact on the employee benefits landscape. For many consecutive years, GTC has been awarded the PMR Diamond Award, and we are honoured to once again be voted the top-rated retirement fund management company in our category. Notwithstanding the past seven consecutive awards, we at GTC approach each year with a sense of humility and a drive to... Read More
GTC wins 2023 PMR Diamond Arrow Award of Excellence
August 2023 GTC clinches PMR Africa Diamond Arrow Award of Excellence 2023 GTC has once again been recognised by PMR Africa, awarded the Diamond Arrow Award of Excellence for 2023, being the highest-ranked recipient in its category. This achievement marks the sixth consecutive year that GTC has received this prestigious award, cementing its reputation as a leader in South Africa’s employee benefits industry. This award is not only a recognition by users and industry peers of GTC’s performance, but also a testament to GTC’s positive impact and contribution to the employee benefits landscape.
GTC wins PMR Golden Arrow Award for superior employee benefits administration
December 2014 GTC received a PMR Golden Arrow award for excellence in the category medium sized (defined as servicing up to 100 000 members) pension fund administrators and consultants. The award was presented by consulting, research and risk management company PMR to the financial advisory business GTC at a prestigious ceremony held during December 2014. “We’re delighted to receive this accolade which further endorses our superior employee benefits administration and advisory business,” says Gary Mockler, Group CEO of GTC. “The award mirrors our own internal client satisfaction index which measures 94% overall client satisfaction at this time – a standard we are proud of!” The PMR survey on South African Pension Fund Administrators, Consultants, Product Providers and Insurers requires a national sample of 200 respondents, comprising principal officers, trustees or consulting actuaries to rate administrator and consultant nominees according to... Read More
Grant Thornton Capital announces strategic acquisition of First Light Administration Services
13 October 2011 Grant Thornton Capital, one of the country’s leading independent financial advisory businesses for over 20 years and a subsidiary of Grant Thornton South Africa, has announced the total acquisition of First Light Administration Services (First Light), formerly a wholly owned subsidiary of Sekunjalo Investments, a JSE listed company. First Light, established 11 years ago, is a well-known retirement fund administrator providing services to listed and privately owned employers. The company will integrate into Grant Thornton Capital’s employee benefits division, specifically into the retirement fund administration business. “The acquisition of First Light sees Grant Thornton Capital being the administrators to over 80 000 member records,” says Gary Mockler, executive chairman of Grant Thornton Capital. “This accounts for over 300 participating employers with assets of some R6bn under management and administration.” Bruce Knight, managing director of First Light, says:... Read More
