Group Saving Scheme
Setting up a Group Saving Scheme benefits both the company and its employees. For the company, the plan is an effective way of recruiting and retaining good quality employees. For the employee, the plan is a cost-effective way to save and provide a valuable bonus, in the form of a lump sum payment, when they leave employment or on retirement. It is a comprehensive way to encourage loyalty, show your appreciation to your staff, and more importantly, make a sound investment for the future.
The Group Saving Scheme is simply a regular premium payment made by the employer and the employee. A percentage of the salary is deducted from each employee, and is invested into a plan that is separate from other company assets. bnl will invest the contributions, administer the plan, and provide life insurance coverage as required.
- Lump sum payment when leaving employment/retiring
- Investment in a balanced managed fund
- A guaranteed minimum return based on the Scheme Terms and Conditions
- bnl provides support by introducing the Scheme through staff meetings
- Life Insurance can be added on a voluntary basis
- All administration will be managed by bnl
- The Scheme is flexible and accommodates changes in salaries, staff turnover and voluntary contributions from employees
- The Scheme includes a minimum level of life insurance