The Group Retirement Plan
Advances in medical technology, as well as a greater awareness by individuals about their personal health are resulting in people living longer. As a result saving for retirement is becoming increasingly important because people are retired for a larger portion of their lives.
Discovery Group Retirement Plan
Employers can assist employees in saving for retirement, therefore having a positive influence on their long-term economic prospects. Not only does this appeal to the desire to care for employees, but by improving the financial wellbeing of your employees, you are able to keep qualified staff and increase productivity.
Discovery Invest offers employers the Group Retirement Plan, a tax efficient and flexible solution for their employees.
Download our Group Retirement Annuity Plan brochure
Key Benefits of the Discovery Group Retirement Plan
A tax efficient saving structure
There are tax advantages since the Group Retirement Plan is a retirement annuity. This means contributions to the Group Retirement Plan are tax deductable up to certain limits, and investment growth is tax free under current tax practice.
Access to a wide range of investment options
You will have access to a comprehensive range of over 200 investment options, including the Target Retirement Date Funds and Escalator and Geared Escalator funds.
A low cost retirement option
The Group Retirement Plan provides access to Discovery Invest’s unique Fee PayBack ™ benefit which provides a refund of 55% of all Discovery Invest Annual Administration Fees (including growth, less previous refunds) at the end of 10 years and every five years thereafter. If the employee’s retirement date does not coincide with a Fee Payback date, they will also receive an additional Fee PayBack of up to 55% at retirement.
Integration with Discovery Group Life
Your employees could qualify for the Investment Allocation Booster ™ and the Group Asset Protector ™. The Investment Allocation Booster ™ boosts the amount of each contribution by up to 5%. The Group Asset Protector ™ protects their fund values against poor investment performance by comparing the fund’s performance against an underpin of CPI. Should the fund underperform it will be topped up at retirement or on death.
