Group Superannuation Scheme
Secure retirement planning for employees with pension or lump sum benefit upon retirement.
What is Group Superannuation Scheme?
Secure retirement planning for employees
This plan has features like Retirement benefit which provides a pension or lump sum payment to employees upon retirement and Group Coverage to cover a group of employees under a single scheme. Employers contribute to the scheme, and the funds are managed by a life insurer or a pension fund.
This Scheme provides a regular income or lump sum payment to employees in retirement and the contributions made by employers are tax-deductible. It helps Employee retention, helps attract and retain talent by providing a valuable retirement benefit. This scheme provides a guaranteed benefit amount based on salary and service. The benefit amount depends on the contributions made and investment returns.
Key Features:
- Pension or lump sum benefit
- Employer contributions
- Tax-deductible for employers
- Guaranteed benefit options
- Professional fund management
- Flexible retirement options
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What is Group Superannuation Scheme?
It's a retirement benefit scheme where employers contribute to a fund for employees' pension benefits.
What are the Key features of Group Superannuation Scheme?
Employer contributions to a trust fund, payout as pension or lump sum on retirement, and tax benefits for employer contributions.
What are the key benefits of Group Superannuation Scheme?
Retirement income security for employees, tax efficient for employers, and the scheme encourages employee retention.