Building Stronger Teams with Comprehensive Group Benefits
Corporate Benefits and Group Schemes are designed to enhance the well-being of your team and strengthen the foundation of your business. By investing in comprehensive group schemes, you not only boost morale and productivity but also attract and retain top talent. Let us help you create a benefits package that aligns with the specific needs of your workforce and the goals of your organization.
Retirement Benefits
The employer and employee both contribute a percentage of the member’s pensionable salary towards the retirement fund.
Employer contributions to group retirement funds are often tax-deductible as business expenses. This means that contributing to an employee’s retirement plan can reduce the employer’s taxable income, resulting in potential tax savings.
Group Risk Benefits
Group risk benefits, provide employees and their families with financial protection in the event of death, disability, or illness. This coverage can ease financial burdens during difficult times and provide peace of mind to employees, enhancing their overall well-being.
It typically offers coverage at lower costs compared to individual policies because the risk is spread across a larger group of employees. Employers can negotiate favourable rates and terms with insurers due to the collective purchasing power of the group.
Premiums paid by employers for group risk benefits are often tax-deductible as business expenses. This can result in tax savings for the employer while providing valuable coverage to employees.
Group Medical Schemes & Insurance
There may be several benefits for an employer to offer their employees medical coverage, whether as part of a medical aid or medical insurance. Group medical schemes often allow employers to negotiate lower rates for healthcare services and insurance premiums compared to individual plans.
Offering a group medical scheme or health insurance can assist in attracting new employees and retaining existing talent in a competitive job market.
When employees have access to medical care, they are also more likely to address health issues promptly which can reduce absenteeism and increase productivity – healthy employees are generally more engaged and motivated in their work.
CONTACT INFORMATION
Tel: +27 975 1225
Email: admin@innofin.net
Suite 1, Canal Edge Four
Fountain Road
Tyger Waterfront, 7530
PO Box 4482, Tyger Valley, 7536
OUR SERVICES
Innofin Financial Solutions (Pty) Ltd
Reg No. 2017/300666/07
VAT 4950185746
Authorised Financial Service Providers by the Financial Sector Conduct Authority (FCSA) License No. 7542
Professional Indemnity Insurance
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