Business Financial Planning
Provident / Retirement Funds
By offering a Retirement Fund to your employees, you are making a solid investment in the success of your business!
In our highly competitive, skills short market, the employee benefits that a company offers is one of the key factors that will motivate the decision that a potential employee takes to join a company or for an existing employee to seek greener pastures.
As one of the key aspects of your employee benefit strategy, the provision of a retirement fund along with medical insurance cover, could set your business apart from your competitors by positioning your business as an employer of choice.
At Ginsberg Financial Brokerage, we understand that your business needs and the profile of the people that you employ is unique. Based on our intricate understanding of your organisation, we will advise the most appropriate retirement fund solution to suit your specific needs.
Advantages of a Staff Retirement Fund
Benefits for you, the employer
- Retain your valuable employees
Employee benefits such as a Staff Retirement Fund minimise the risk of losing valuable employees. You can be assured of keeping your employees and being able to offer an attractive, competitive package to new employees.
The employer's contribution to the Retirement Fund is tax deductible to a maximum of 20% of annual taxable salary.
- Peace of mind
The responsibilities of the employer regarding employee retirement, death or disability are automatically reduced as these are taken care of by a tailor-made specialist Retirement Fund.
- Transferable benefits
The accumulated benefits of members are transferable between employers, or to another approved Retirement Funds.
- Ease of payment
Contributions are levied monthly and to make life easier for you, these are done by debit order. The single contribution covers all the benefits of the Retirement Fund.
Benefits for the employee
- Retirement Benefit
On retirement, at any age between 55 and 70, the member will receive the equitable share (nett contributions plus interest) in a Provident Fund as a lump sum or, if preferred, a portion or the full value paid by means of a monthly pension.
- Resignation Benefit
Upon termination of service, the member's risk benefits, i.e. death, disability and funeral cover, will cease. The member is entitled to the equitable share of the Retirement Fund (nett contributions plus interest) and this benefit can be taken in cash or can be transferred to a Preservation Fund or a Retirement Annuity. Alternatively the equitable share can be transferred to another Retirement Fund offered by the new employer.
- Death Benefits
In the event of death before retirement, the member's dependents and/or beneficiaries will receive a cash benefit.
- Total and permanent disability
Should your employee become permanently disabled before the predetermined age he/she will receive a cash benefit.
A member will be issued with a membership certificate once the first contribution has been made. Every member will receive an annual benefit statement, which will reflect the member's equitable share in the Provident Fund, and the cover for death, disability and family funeral benefits under the associated separate group schemes. The benefit statements will be forwarded to the participating employer for distribution to employees.
Ginsberg Financial Brokerage. Helping individuals and businesses prosper since 1991.
An Authorized Financial Services Provider | FSP No. 3991 | We are FICA and FAIS compliant