Group Chronic Illness

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This product was designed to enhance the benefits of an employee who would have retired on ill-health grounds. Under a Defined Contribution Scheme, the reduced years of service due to ill-health, negatively impact on the retirement package. Many employees who would ordinarily qualify for ill-health early retirement are therefore not keen to retire because of this element. The product allows for a win-win situation:-

Employee gets an enhanced retirement package
Employer can hire a more productive employee


All active members of a group pension scheme are eligible to participate in the Fund.


The employer pays an additional contribution expressed as a percentage of salary bill for the provision of this benefit.


The fund releases a lump sum which is a multiple of member’s salary as at date of retirement. This additional lump sum when combined with the retirement capital accumulated under the main Pension fund, ensures that a more meaningful pension is paid to the Retiree.