Staff incentive scheme


Overview
A staff incentive scheme, also known as preferred compensation, is a policy designed to provide your staff who have special skills, training or experience, and whom you wish to retain, with a cash benefit before retirement.

Features

  • Proceeds are paid to employees after five years
  • An endowment policy or a unit trust investment can be used
  • An agreement is drawn up between the employer and employee.


Benefits

  • Contributions are tax deductible
  • Ensures loyal and dedicated staff
  • Control is retained due to cession of the policy
  • A flexible negotiating tool.

 

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