Your employer can provide employee benefits (perhaps they refer to these as ‘group arrangements’). However, you may not realize what those benefits are, or how important they are to you.
The past year has been an exceptionally difficult time for families, businesses, and the world in general. Financial health (not to mention physical health) is extremely difficult to maintain. In times of high pressure and stress, you may be tempted to dip into your savings, reduce contributions to retirement funds, or cancel these products outright. However, this happens at a time when good financial products – backed by expert advice on how to maximize your potential – can see you through difficult times.
A typical employee benefit package includes both financial and health benefits
These often cover not only the employee, but also the employee’s family. A benefit package from Alexander Forbes provides financial advice to help families manage their day-to-day expenses, make big financial decisions and plan for the future. This means that you can live comfortably within your means. With a good financial plan, you can also have money left to save. Tax-efficient savings and investment products will help you make your money, no matter how much you earn.
Financial stability means that you can plan everything:
- Things you don’t want, such as layoffs or illness
- And things you hope will happen, such as buying a house or sending your children to tertiary institutions
- Essentially for such things as retirement
In addition to financial services, a benefit package from Alexander Forbes also provides health services, which can extend to spouses and dependents. Medical support advice helps your family choose the best cover for your needs. Life and disability cover ensures that your family’s safety is anything to do with you or your husband. And some employee support programs will also include counseling to ensure your mental and emotional well-being.
Employers often have a contribution matching policy, which means that for each rand you contribute to your employer’s retirement fund, your employer will contribute more of one rand. It helps you to accumulate retirement savings in half the time. The employer’s contribution usually also covers the cost of benefits and fund expenses. Additionally, as part of a workplace fund, you will receive institutional rates, which are not available to individuals. This means that your savings and investment will cost you less in management fees, giving you more room for growth.
On Alexander forbes, We partner with employers to personalize their employee benefits with these specialist solutions. We also provide financial literacy training throughout your working life – and beyond. Together, they can help you and your family maintain financial and physical well-being throughout their lives. Now this is something you can trust.