ADVANTAGES

For Employer

• It enables you to fund for the pensions in advance and spread the cost of pension over a longer period. If you wait till the employees are close to retirement age, the cost involved may be out of your reach and employees would have to forfeit many years of service
  
  
• It enables you to take advantage of tax relief available on the contributions you pay
  
  
• It helps you attract high quality employees and retain your staff
  
  
• It avoids the loss of efforts and money spent on training
  
  
• It promotes better industrial relations and enhance loyalty, morale and stability of employees
  
  
• It promotes a sense of belonging among the employees and makes them feel more responsible towards their job, thereby improving the quality of your staff
  

For Employees

• It is an additional fringe benefit for employees
  
  
• It provides security to employees and their families, bringing more job satisfaction. Pension schemes do not provide pensions at retirement as from the age of 60 only. There are also pensions payable on earlier retirement due to ill health and gratuity payable on death in service
  

QUOTATIONS

To enable us to work out a scheme for you, we require the following data:

• Employee Code
• Sex
• Date of Birth
• Nature of Duty
• Date of Commencement of Pensionable Service
• Present Pensionable Salary
• Break-in-Service if any

You may also specify the type of scheme you wish to have and its commencement Options as follows also may be specified:

• whether the benefits would be net of the benefits payable under the National Pension Fund or not
  
• the accrual rate
  
• whether previous service prior to the commencement date of the scheme should be considered or not
  
• whether pensions in payment would be increasing or not