How do you decide how much you increase membership payments by?

Because we’re a not-for-profit fund, we only ever increase membership payments by what it costs to pay claims and keep our fund running. Any increases we make are closely reviewed and approved by the Australian Federal Government.

Any net operating margin earned as a result of this rate increase will be directly added to the fund’s reserves to ensure the future payment of claims, benefits for members, and covering our operational costs and overheads (which we keep extremely low each year – around 10c in every dollar).