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INDIVIDUAL COUNSELLING

Due to lack of knowledge about their retirement savings plans many employees would like to meet and discuss their personal affairs with people who are knowledgeable in this area and who have no conflicts of interest.

We have been interviewing individuals, who come to us off their own bat, or who are employed by companies of all sizes, for over 20 years.  We are probably the only people who are both competent in personal financial services and who have no conflicts of interest.

Retirement Benefits Counselling as laid down in the Pension Funds Act

Resignation and Dismissal counselling

Retirement counselling one on one

Retrenchment counselling

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Our offering comprises the above three areas:

Retirement Benefits Counselling as laid down in the Pension Funds Act

From 1st March 2019 anyone leaving a retirement fund must receive retirement benefits counselling.  Such counselling may be conducted in several ways, but we believe that the most effective remains face to face, or one on one, sessions.

Due to the complexity of other fund exits it is our belief that specific, structured interviews, whether one on one, in groups or using on-line materials, would be best suited for employees who resign, or are dismissed.  Retirement and retrenchment counselling require considerably more knowledge and counselling skills and should be done in separate categories of one-on one counselling.

  • Retirement Benefits Counselling is not about giving advice but rather describing the options that are available to the departing member and making sure that they understand the consequences of each choice;
  • Retirement Benefits Counsellors must have detailed knowledge of the fund and its defaults and a good understanding of the retirement process.
  • Retirement Benefits Counselling is NOT giving advice and or selling financial products;
  • Retirement Benefits Counselling is NOT pronouncing judgements;
  • Retirement Benefits Counselling is NOT encouraging members to any particular course of action.

As our counselling work complies with all the above criteria we believe that all the work we do in this area can be described as Retirement Benefits Counselling.

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We divide this work into three categories:

Resignation and Dismissal Retirement Benefits Counselling

This is relatively straightforward as the options are limited.  In many cases the member may well leave accumulated retirement funds in the retirement fund of the employer he or she is leaving.  It is important that they be aware of the generic options available outside of what the fund can provide.

Full Retirement Counselling

Making this service available to retiring members within 3 months of their leaving would cover both providing those members with really thorough retirement counselling and, in the process, meeting the requirements of the Pension Funds Act;

Retrenchment counselling

Making this service available to retrenched employees within 3 months of their leaving would cover both providing those members with really thorough retrenchment counselling and, in the process, meeting the requirements of the Pension Funds Act, as well as the Labour Relations Act.