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Benefits of Group Savings

  • A competitive annual interest is generated on savings
  • A lump sum payment when leaving employment/retiring
  • Investment in a balanced managed fund
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  • Group Savings

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.

There is no doubt that setting up a Group Saving Scheme benefits both the company and its employees. For the company, the plan is an effective way to do the following:

  • Recruiting talented staff
  • Retaining good quality employees
  • Motivating the staff
  • Sowing the saving culture in the institution

For the employee, the plan is a cost-effective way to help employees to do the following:

  • Growing personal savings
  • Saving and valuing the bonus benefit given by the employer
  • Availing a sum payment by the time of leaving the employment or on retirement.
It is a comprehensive way to encourage loyalty that enables the employer to show appreciation to the 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, the employee or by both combined employer or 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.

  • Other Key Benefits

  • A guaranteed minimum return based on the Scheme Terms and Conditions
  • All administration will be managed by Prime Life Insurance Ltd
  • The Scheme is flexible and accommodates changes in salaries, staff turnover and voluntary contributions from employees
  • Scheme members can check the policies statement using a friendly digital Prime Life platform by dialing *177# USSD code.

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