Bad news and good news - Both the FSB and the Council for Medical Schemes have published fee increases.
The previous notice was published on 24 March 2015, and signed by the then Minister of Finance, the honourable NM Nene. So much water has flowed into the ocean since then.
Some of the more common fee increases are:
|Current Fee||New Fee|
|Application for authorisation as a Category I FSP||2 311||2 414|
|Application for authorisation as a Category II FSP||13 971||14 599|
|Application for authorisation as a Category IIA FSP||13 971||14 599|
|Application for authorisation as a Category III FSP||41 976||43 864|
|Application for authorisation as a Category IV FSP||2 311||2 414|
|Application for approval as Key Individual||1 251||1 307|
|Application for Phase I approval by a Compliance Officer||1 431||1 495|
|Application for Phase II approval by a Compliance Officer (Linking to a License)||742||775|
|Regulatory Examinations||1 113||1 163|
The new fees are effective from 24 January 2017. As registration for the regulatory exams up to this date have already closed, the new fee will be applicable to all registrations with immediate effect.
The Council increased the maximum amount payable to healthcare advisers to R85 including VAT, or 3%, whichever is the lesser, effective from 1 January 2017.
Source: Paul Kruger and FSB Website