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| EMPLOYEE BENEFITS CONSULTING |
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We offer Employee Benefits Consulting to ensure that you do not lose your most valuable human capital to your competitors.
PENSION AND PROVIDENT FUND
The Pension Fund is the security of a pension payable for life. In a Pension Fund only 1/3 of the retirement proceeds may be taken as cash, with the balance used to secure an income. This income is then taxed at the member’s marginal tax rates.
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The Provident Fund has more flexibility. The lump sum available on retirement can be applied in whatever manner is most appropriate.
The main differences between pension and provident fund are detailed below:
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PENSION FUND
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PROVIDENT FUND
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Member’s contributions are tax deductible up to 7.5% of salary |
Member’s contribution are not tax deductible, but may be structured as part of a salary package. |
Employer contributions are tax deductible up to 20% of total payroll. |
As for pension funds, but aggregated for both types of funds |
1/3 max. Cash lump sum.
2/3 compulsory monthly pension at retirement. Income guaranteed for life. |
Cash lump sum available at retirement.
Retirement benefit can be invested as the
Employee’s discretion, accordingly to his specific needs. |
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GROUP LIFE ASSURANCE
Most funds in the market provide some measure of cover to their members in the event of death and or disability.
The types of Risk Benefits we offer are:
- Group Life (Death Benefits)
- Capital Disability (Lump Sum)
- Permanent Health Insurance (Disability Income)
- Dread Disease
- Medical Aid
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INVESTMENTS
A real level of investment growth over the working term is certainly an important factor in providing adequate retirement provision to retiring members.
The investment portfolios can be mixed and matched to suit the needs of all investors. We believe that we have extremely flexible and convenient combination available in one package. |
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ADMINISTRATIVE SERVICES
- Intervention and problem solving where necessary;
- Committed, service orientated approach;
- Legal and technical knowledge-keep up to date on legislation and other changes and advise appropriate actions and alternatives;
- Accessibility to employer and members on any fund issues by using BluePrint Online.
- Ensure timeous and accurate issue of benefit statements;
- Annual investment feedback session recommended;
- Options on leaving fund-written advice and one-on-one counseling available.
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