Employee Benefits:

We utilise different strategies and products to ensure that your staff are happy. We believe in retaining staff through low cost benefits.

Pension fund:

A Pension fund is a product which is implemented by a company to provide with a form of tax relief up to a certain limit, and to provide for their ultimate retirement. The fund cannot be cashed in prior to retirement age 55, however, upon reaching retirement age, the member will have access to up to 1/3 rd of the capital (subject to tax), and the balanced can be converted into an income providing product such as a Living Annuity.



Resignation or Retrenchment

On resignation or retrenchment, the employee has the option to transfer the Pension fund into a privately owned retirement product such as a preservation fund or retirement annuity.

Tax Relief

Both the employer and employee get tax relief on all Pension fund contributions up to a prescribed limit.

Pension Fund

Pension funds are best suited to companies with 100+ staff members, that have a basic understanding of financial products.
  
  

Corporate Retirement Annuity:

The Corporate RA is similar to a private RA, however, the contributions are paid through the company on behalf of the employee. The product remains privately owned, unlike a Pension or Provident fund, which means the employee gets more control over their investment selection. The Corporate Retirement Annuity is also portable in the hands of the employee.

Employee Access

On resignation, the employee does not have access to the capital, which has to be preserved until retirement age 55 at the earliest.
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Tax Reduction

The employee will also benefit from a tax reduction on their contributions.
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Privately Owned

No need to transfer or convert into the individuals name, as it is privately owned
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Flexibility in Retirement Funding

This retirement vehicle is perfectly suited to smaller companies and SME’s with a staff compliment under 100.
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This product is suited for employees that want more flexibility in their retirement funding, and investment selection. We recommend this product for smaller companies that employ professionals, or employees with an understanding of financial products. This retirement vehicle is by far the easier of the products for the employer, as it removes the cumbersome administration created through conventional pensions funds who have to have trustees, and an investment committee.



Provident fund:

Similar to a Pension fund, the Provident fund provides the employer and the employee tax relief on their contributions. The major difference between a pension and provident fund is that the employee has the option to cash in the full value (subject to tax) when they resign or they are retrenched to preserve the capital until retirement

  
  

Resignation or Retrenchment:

On Resignation of Retrenchment, the employee has the option to cash in the full amount, or take a once off withdrawal amount, all subject to tax, or to preserve the benefit until retirement.

Tax Relief

Both the employer and employee have tax relief on contributions.

Provident Fund

Provident funds are suited to companies with lower income earners that may not have an understanding of financial product , or may require a lumpsum payment on retirement instead of an annuity.

Group Risk:

Group risk can be quoted on any Pension, Provident or Corporate RA product, which includes areas such as Group life, Disability cover and funeral cover, subject to the employers requirements
Contact Deton Private Wealth
Contact Deton Private Wealth