• Reimbursement of Medical expenses after retirement.
• Generally a monetary ceiling applies

The initial out go is not high as schemes are recent. Funding on PAYG. Many companies offer reimbursement of Medical expenses to their employees while in service and after retirement. The cost of providing these benefits could be substantial and as per Accounting Standard- 15 it is mandatory to reflect this Liability in the books. This Liability is required to be valued by an Actuary. Funding of these benefits do not enjoy any tax benefits.