Group Retirement and Investment Benefits
Many companies have existing Provident and Pension Funds to try and help provide for their employees old age. This is commendable and shows corporate responsibility toward employees.
Other employers would like to implement such savings options but are afraid of the costs and legal implications.
Certain Trade Unions force employers to have Retirement funds with
the Trade unions designated provider. These funds are often appallingly
administered with huge delays on payouts and much administrative bungling.
There are also questionable benefit structures in some funds.This
makes human resource departments’ payroll and auditing a nightmare.
Large trusted financial institutions have been widely exposed in the press of late due to their abuse of these funds administered by them. Excessively high costs are sometimes charged with the result of employees receiving vastly reduced payouts on retirement.
The implications are overwhelming.
Who can you trust?
How do you select a service provider who has your company and its’
employees best interests at heart?
• Service level agreement
• Proven track record
• Timeous reconciliations
• Accurately run schemes
• Availability for queries
• Member training
• Current happy customers
• Ongoing research into the marketplace
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