PRMF Calculator

What is a Post Retirement Medical Fund (PRMF)?

A PRMF is an arrangement that allows members, while in active employment, to save towards their medical costs incurred after retirement. It is set up to supplement other retirement benefits.

How PRMF Works:

• Members contribute to the PRMF during their employment. These contributions are invested and later used to pay for medical bills upon retirement.
• Benefits can be utilized by purchasing a medical insurance cover for retirees or by directly settling medical bills.
• The benefits may be assigned to the member only, or both the member and their dependents.

Accessibility:

• On retirement (normal/early/ill-health)
• Permanent emigration
• Exit from employment before retirement age

What is the PRMF Tool?

This software tool helps members estimate the targeted contributions required for a defined level of benefits or the benefit limits for specified contributions.