We provide specialist services such as Group Risk Benefits, Pension Funds and Provident Funds and Financial Planning to members of these funds – to ensure your business can build, protect and preserve the value of hard-earned assets to benefit your valued employees.
Employee Benefits has become an essential foundation to any business in the corporate world that cares for their employees.
These days, a great job isn’t just down to a salary – and the advice and experience of an independent specialist employee benefit consultancy such as ours can benefit your business with knowledge and insight.
Beginning with a thorough consultative process with your business, we gain an in-depth and comprehensive understanding of the company and the benefits currently offered and/or required.
We give your business a detailed analysis of the current status of your employee benefits situation – and all the alternative options available.
We facilitate regular board of management / trustee meetings, where legislative updates, investments, benefits, administration matters,
costs (and comparative costs) are reviewed and considered.
Employee Benefits also facilitates presentations that educate employees on their benefits, as well as providing one-on-one consultations.
This expert independent consulting is a value-added service provided at no additional cost to the fund. We will give each individual member in the fund a complete financial needs analysis so that they can plan their financial future more effectively.
We are accredited with all major service providers and as an accredited financial advisory and intermediary services provider we operate with complete transparency. We fully disclose the offerings of each administrator, risk provider and asset manager, as well as our consulting services and fees. This is particularly important given that the employee benefits industry and product offerings have become very complex and there is significant potential for differences in offerings to be hidden from the untrained eye and for fees to be layered.
Employee Benefits offers cover for:
Contributions are usually expressed as a percentage of each members defined salary and paid into a pension fund for the term of membership. Accumulated net contributions invested and adjusted with investment return is called a members fund credit. At retirement, the members may take up to one-third of the fund credit as a cash lump sum and tax will be paid on this cash portion. The balance will be used to purchase a monthly pension. Members have the option to use their full fund credit to purchase a higher pension.
Contributions are usually expressed as a percentage of the defined salary of each member and paid into a provident fund for the term of membership. The accumulated net contributions that are invested and adjusted with an investment return is called a members fund credit. At retirement, the members are allowed to take the full fund credit as a cash lump sum after tax has been paid or the members may opt to use a portion or all of the fund credit to purchase a monthly pension.
Group Retirement Annuity
The group retirement annuity is taken out in the members name and is portable as the member can take the policy and continue the contributions after their employment has ended or been terminated. The accumulated net contributions that are invested and adjusted with an investment return is called a members value and can only accrue to the members as a retirement on or after age 55. At retirement the same rules for pension funds will apply to retirement annuities.
Group Risks Benefits
There is a range of group risk benefits to ensure the financial wellness of employees and their families in the event of death, disability, critical illness and funeral assistance.
When a member leaves a company their fund credit becomes payable . A preservation fund is one of the options available to the members and it enables them to preserve their fund credit by transferring it tax-free to a preservation fund until retirement. Before retirement one full or partial withdrawal is allowed and this withdrawal will be taxed before it is paid to the members
Life and Financial Planning
All of the Employee Benefits are in conjunction with the services we offer at the Pogir Group. Our financial advisors assist with advice and guidance to the individual members in the fund and their needs which allows for ongoing advice to the member when they leave the fund. For more information and assistance on Life and Financial Planning you can visit Life Finincial Planning
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