Group Personal Pension Plan

Group Personal Pension Plan

A group pension scheme is a collection of personal pension schemes typically offered by employers for making life after retirement smoother for their employees. If you want to see your business reach the top, you must know how to keep your employees happy and make them feel financially secure. This makes buying group pension plans for your employees a must-do act. Jubilee Life Insurance offers group pension schemes that are suitable for employees irrespective of the industry they work in. 

The Basics of Group Pension Scheme

  • These schemes are established by employers for making their employees’ futures financially secure. 
  • Every employee working for the company offering these schemes is eligible to be a part of these programs. 
  • These schemes require a certain amount of contribution from the employer. The percentage of contribution can be 10%, 15%, or even more than that. 
  • The rate of voluntary employee contribution, on the other hand, can be 5%, 10%, and so on. 
  • These schemes offer a guaranteed interest rate of 5% per annum. 
  • Umbrella Pension Schemes: The role of trustee is played by Jubilee Life Insurance Company Ltd., the most trusted life insurance company in Tanzania and the whole of East Africa.
  • Occupational Pension Schemes: For these schemes, employers need to appoint a board of trustees.

About Our Group Pension Schemes

If you run a business in East Africa, you’ll not need to look beyond us when it comes to buying group pension plans for your employees. Jubilee Life Insurance is the highest-rated life insurance company in Tanzania. After securing the life of hundreds of thousands of people with term life insurance and other insurance plans, we have come up with amazing group pension plans. 

Once you select us as the provider, you can rest assured. The pension your employees will receive post-retirement will be based on individual contracts between us and the recipients. So, you’ll have little to do besides making the annual contributions. 

As an employer, you’ll have the full right to decide how much you’ll be contributing. However, we do have a minimum contribution requirement, which is not difficult to meet even for small businesses. Whatever might be the contributions made by you, our schemes will ensure that your employees derive maximum benefits out of them in form of pension. 

By contributing to these schemes, you’ll be enjoying substantial tax relief. This means, buying these plans will not only be beneficial for your employees but will also prevent you from paying high amounts of tax. 

There will be contributions even from your employees. They will also be saving on their income tax by making contributions towards their respective group pension schemes.

Why Choose Us?

Jubilee Insurance Group has served this part of Africa for more than seven decades. Over the years, we have only grown in stature and our popularity has increased by leaps and bounds. We have always operated with the goal of safeguarding the interests of our clients, let them be families, individuals, or businesses. This has allowed us to provide them with the best possible solutions consistently. 

Our biggest plus is our ability to tailor plans according to the exact needs of our clients. This has made us the number one choice for all kinds of businesses, big or small, old or start-ups. 

Another factor that makes us the most trusted insurance solution provider for businesses is the position of our mother company Jubilee Holdings. Other than being listed on the Dar es Salaam Stock Exchange, Jubilee Holdings has also been cross-listed on Nairobi Securities Exchange and Uganda Securities Exchange. This makes Jubilee Life Insurance the only ISO-certified insurance company to have listings on each of the three regional stock exchanges. 

As the company has the biggest shareholders’ funds in East Africa, you can rest assured about your investment’s security when dealing with us. In other words, call us if you want your money to be in safe hands and enjoy complete peace of mind. 

The next reason why businesses trust us is our transparent operations. We always provide our clients with easy access to information about the schemes they have purchased. We have invested big amounts in implementing more effective information technology. Jubilee puts in the best efforts to ensure that our system gets upgraded regularly. As a result, clients can monitor the schemes they have invested in seamlessly. 

Every region has some specific needs. You may be looking to purchase a group life insurance policy or group pension scheme Tanzania those needs must be fulfilled. As we have served people and businesses in this part of the world for decades, we never fail to meet the region-specific requirements of clients in Tanzania, Kenya, Burundi, Uganda, and Mauritius. 

Get in touch with us right away to know more about our group pension plans, credit life assurance plans, term insurance plans and more.