Group Superannuation
Group Superannuation
It is a pension plan that an employer creates with the help of insurance companies for the employees’ benefit. It allows the employees to get a steady source of income even after retirement to meet their financial needs. Benefits of Group Superannuation:
For employers:
- Increases the trust factor in the employer and motivates employees to remain with the company
- Income received by the superannuation fund is exempted from tax upto a specific limit.
- Makes your organisation more attractive to potential employees
For employees:
- They receive excellent retirement benefits at a nominal cost
- Encourages them to save more towards Retirements than spending on unnecessary expenses.
- The 1/3rd of the accumulated corpus can be withdrawn from the superannuation fund at the time of Retirement & is fully tax-free
Group Superannuation for businesses
As an employer, investing in a group superannuation scheme for employees will help you retain your existing employees and attract new quality talent as well.
You can claim tax deductions on the contributions you make on behalf of your employees. Group superannuation schemes are cost-efficient and tax-efficient, benefitting both employers and employees.
Choosing the right Group Superannuation provider
To understand the different expenses, tax implications, and other benefits in a group superannuation plan, you need the assistance of an experienced financial consultant
Pick an insurance provider with this right mix:
You can count on Nesting Wealth’s in-depth experience in corporate insurance to select the right group superannuation scheme for your company. We will strive to provide the best possible experience for you and your employees.
