“When companies motivate and assist their staff in saving for retirement they are showing a level of respect and concern for them that goes beyond the years they will be of service to the business,” says Mica Townsend, Business Development Manager at 10X Investments.
“It is very meaningful to help set your employees up for a decent retirement. Unfortunately, many workers just don’t understand their policy and, therefore, fail to make the most of the benefits. An example is how easily members will cash out their savings without any idea of what it will cost them in the long run.”
The South African guide to Corporate Retirement Funds, which is downloadable for everyone at no cost from the 10X Investments website, is an informative and user-friendly guide that cuts through many layers of confusion for employers and employees alike.
This e-book answers a multitude of frequently asked questions. Townsend adds that the guide will also give employers a good basis from which to evaluate their current funds.
“Understanding the underpinning principles will give employers, as well as employees, the tools they need to ask the right questions and make good choices to ensure that they have the best possible chance of meeting their retirement goals.”
The e-book gives an overview of the various types of funds and digs into some detail around the benefits members can access – from death and disability cover to funeral cover for family members – as well as giving information about tax allowances and what happens to a member’s savings when they retire. This guide cuts through all the complexity surrounding this topic.
“Helping employees to understand what fund membership means will take the provision of a company pension savings fund to another level,” says Townsend. “By helping employees to maximise on the benefits of membership, this guide will unlock the door to retirement savings success for so many.”
Download the free ebook here.