Retirement should be a time to enjoy - your proverbial 'golden years'. But so often people are in for a rude shock once they bid their colleagues farewell and begin to prepare for this new phase in their lives. Even having contributed to a pension or provident fund for many years, people are often disillusioned at retirement when they find that the provision they had thought adequate is nowhere nearly enough.

The cold facts are that inflation erodes large portions of even the most comfortable pension. Moreover, people live a lot longer these days, and retirement money has to be spread over a long period. And, as one grows older, medical expenses tend to escalate dramatically.

Are you sure your employees will enjoy carefree retirement?

If your employees are already contributing to a pension or provident fund, it is important for them to be aware of the following:

• how the fund operates

• how they are likely to benefit from it eventually,

• whether the benefits that accrue to them will be enough to maintain a reasonable standard of living,

• their medical expenses will be covered once they retire, and

• what they should do if they decided to change jobs

It's important for your employees to have the peace of mind that provision is being made for their retirement

Central Provident Fund

A fund for employees to increase their retirement capital with tax advantages for both the employer and employee

Deferred Compensation

Retirement provision for employees to increase their retirement capital with tax advantages for both employer and employee.
Note: As from 1 February 2006 this fund will not be available for new members

Retirement provision for small businesses

A flexible retirement annuity scheme for smaller businesses that may not employ enough people to qualify for a traditional pension or provident fund, but that still want to make provision for employees' retirement.