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SUB CATEGORIES General  |  HIV |  Medical Schemes | 

KeyHealth Medical Scheme curatorship lifted

07 April 2022 The Council for Medical Schemes (CMS)

The Council for Medical Schemes (CMS) hereby announces that the curatorship placed on KeyHealth Medical Scheme has been uplifted.

Justice Collis agreed to lift the curatorship on KeyHealth Medical Scheme on 5 April 2022, in terms of section 5(9) of the Financial Institutions Protection of Funds Act 28 of 2001 (FIA).

“The application was brought as the Curator had successfully restored effective governance of the scheme, a new Board of Trustees (BoT) had been elected, with the assurance that members and beneficiaries would continue to be serviced and protected,” said Dr Sipho Kabane, Chief Executive and Registrar at CMS.

The upliftment means that in terms of section 5(9) of FIA, Mr Johannes Seloane’s role as Curator of KeyHealth Medical Scheme is cancelled with effect from 5 April 2022, and the BoT is authorised to take control and management of the affairs of the scheme. The scheme BoT comprises of:

1. Mr Arno Gouws
2. Mr Cornelius Johannes Coetzee
3. Mr Andre Donavan Young
4. Mr Guy Boardman
5. Ms Marinda Aletta Luff
6. Mr Jacobus Herkules Phillipus Breedt and;
7. Mr Derek Naidoo

The High Court in Pretoria previously placed KeyHealth under provisional curatorship on 16 September 2020, and final confirmation of the curatorship was granted on 25 March 2021.

The CMS will continue to exercise statutory oversight on the affairs of KeyHealth and ensure that members’ interests are always protected.

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QUESTION

There are countless articles written about South Africa’s poor retirement outcomes. Which of the following would you single out as the biggest contributor to local savers not accumulating enough to buy an adequate and sustainable pension?

ANSWER

Lack of personal accountability
Poor participation in formal retirement funds
Reluctance to seek financial advice early on
SA’s high unemployment rate
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