Group Superannuation Insurance Advantage
Better Returns
Under Group Superannuation scheme, the funds are invested scientifically and in a well-researched mix of equity and debt. Since your fund is invested wisely, you are likely to get better investment returns. This will ultimately contribute to your employee’s long term financial goal or savings for their retirement years.
Group Superannuation Insurance Advantage
Annuity Option
Various types of high quality annuity options are available in group superannuation plan. You can offer pension plan to your employees to take care of their life after retirement. Group Superannuation plans allow multiple payout options like yearly, half yearly, monthly, or quarterly. It is also possible to buy annuities that return the premium to nominees when you die or where the amounts are guaranteed for as long as you live or even options that allow an increase in annuity benefit each year to keep pace with inflation.
Group Superannuation Insurance Advantage
Nominal Cost
Extend the advantage of superannuation scheme to employees at a nominal cost. Give your employees a sizable corpus without bearing significant expense yourself. The primary benefit is that a superannuation scheme encourages your employees to save each month. This discipline results in large retirement savings something that your employees will be grateful for.
Group Superannuation Insurance Advantage
Tax benefit
Investment in this insurance is tax efficient. The employer’s contribution is treated as a business expense which reduces your tax incidence. Employees also benefit because the fund is not treated as a perquisite for the employee, which is tax efficient. Moreover, the contribution by the employee towards this policy is eligible for deduction under section 80C. Also, the benefits payable on death and the amount accumulated on maturity are exempt from tax.
- Better Returns
- Annuity Option
- Nominal Cost
- Tax benefit
