Employee Benefits
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Due to the unique challenges we face in South Africa in terms of social security and national health insurance (NHI), businesses have taken on the social responsibility of protecting their employees’ and their families through group healthcare, risk and retirement benefits.
Employee Benefits solutions that we specialise in, but are not limited to are:
Retirement and Group Risk Benefits
Retirement
Retirement is highly regulated in South Africa and doesn’t currently enforce the behaviour of long-term savings. Even with the latest legislative changes.
In this environment, our role is to constantly communicate the right behaviours about saving for the long-term. Maximising savings is our objective. We need to be highly critical with providers about their fees and what they charge organisations and employees’ that ultimately erode their retirement savings contributions.
We work with Retirement Administrators that offer integrated systems and technology to minimise the burden of administration on your business and employees.
Group Risk Benefits
Group Risk Benefits (Life, Disability and Funeral cover) are seen as high priority benefits in South Africa due to the working class’s family responsibilities and circumstances.
The value in offering these benefits within a group can have significant cost and eligibility benefits to employees within your organisation. It is however critical to get the right balance between long term savings, and group risk cover to ensure employees prepare for both life changing scenarios.
Examples of broking and advisory services are as follows:
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Advising Retirement Fund Boards of Trustees and Management Committees on the cost and benefit effectiveness of their Retirement Fund and Risk Benefits to employees,
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Optimal benefit structuring and contribution levels for Retirement savings and Group Risk Benefits, through the development and alignment of a business’s investment strategy to the demographic of its employees,
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Providing data analysis and market information on evolving market conditions to pro-actively drive decision making, and place pressure on service providers for competitive pricing,
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Member communication that encourages the behaviour of long-term saving and preservation,
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Advice and planning regarding legislative changes,
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Driving operational efficiency through the use of systems and technology offered by
the insurers and retirement administrators.
Healthcare
We offer advice and education around the benefits and cost appropriateness of the health products offered to your employees’. We develop structured healthcare programs that can include:
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A competitive and relevant company healthcare policy,
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Health Audits, to understand current programs, covers and interventions to identify how products are integrating and not duplicated through ancillary products used by the company,
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Regular advice around the competitiveness of your chosen healthcare products and services. As the environment evolves, new products are regularly introduced, and existing products change significantly.
Examples of solutions utilised by organisations are, but are not limited to:
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Medical scheme optimisation
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International Travel solutions
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Primary care and Occupational health
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Employee Assistance and Employee Wellness Programs
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Health Insurance products
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HIV/AIDS/Chronic Illness Management
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Expat coverage
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Solutions for Post-Retirement healthcare liabilities