Employee Benefits

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Employee Benefits

Nyaradzo EB Department offers the following:

1. PENSION FUNDS ADMINISTRATION

Our team has extensive experience in providing solutions for defined benefit (DB) or defined contribution (DC) schemes. Our services include pensions administration, pension fund accounting and pensioner payroll. At Nyaradzo Life, we listen, understand and provide solutions to the needs of our clients as well as design a benefit structure or plan that meets the objectives of the trustees and members.

Why a pension scheme

- To smoothly adjust the standard of living after retirement

Whether a plan is a defined contribution or a defined benefit, it will provide a replacement income when you get to retirement.

Concrete advantages for employees and employers
- Pension is a form of fringe benefit that an employer can offer to employees.
- Besides the financial security it offers after retirement, for the employer, having a pension plan can make it easier to attract and keep competent employees.
- Pension is a form of deferred income that most people only get to appreciate after retirement.

For retirement and much more…

Contributions made to a pension plan are tax deductible.
Investment income generated by the pension fund in which contributions accumulate are tax exempt.
The employer contributions are credited to the member’s plan as soon as his or her membership begins.
In the event of a member’s death, his or her spouse receive a pension or other benefit. If there is no surviving spouse, a benefit can be paid to a designated beneficiary or to the member’s heirs.
The pension fund does not belong to the employer; it cannot be seized if the business goes bankrupt.

1. 2. GROUP LIFE ASSURANCE SCHEMES
2. An insurance that covers a defined group of people, for example employees of a particular employer. A group coverage can help by pooling resources from a group of people with a common interest to purchase insurance. Cover is based on one’s salary.
1. Benefits for your employees

- Peace of mind for them and their loved ones.
- Lump sum benefits are paid without a waiting period
- The Lump sum payment is tax free.
- Soft landing for the loved ones when the breadwinner passes on.

WHY NYARADZO LIFE?

Available to employers who want to cover 20 or more employees.
Easy to set up and straightforward administration with support from a dedicated team.
Simple and fast claim processing, payments are usually done within five working days of claim approval.
Have a team with wealth of experience in pension administration.
Nyaradzo Life has a proven record of delivering home grown solutions.
We listen, understand and provide solutions.
Peace of mind for them and their loved ones.
At Nyaradzo Life we pride ourselves in keeping promises.
Nyaradzo Life, your trusted partner.