Pension and Provident Funds Explained
Why Retirement Funding?
It wouldn’t be unfair to say that employees by far represent a company’s most valuable asset. Given this, employers find themselves in a position where they are not only expected to provide some form of retirement funding arrangement but the added fact that the state cannot afford any worthwhile form of social benefits, adds social and moral pressure to employers to get them to assist with the provision of benefits for their staff and dependents in the event of death, disability and retirement.
Experience shows that the implementation and maintenance of a comprehensive employee benefits program add extensively to a company’s ability to attract high-quality employees and, once engaged, ensures that these staff members provide the company with an extensive and valuable term of service.
Life and disability cover can in most instances be secured at extremely competitive rates via a group scheme, added to which the benefits of bulk underwriting ensure that members of the scheme who under normal circumstances may be uninsurable, will able to secure a minimum level of cover.