Hereford GroupFocus is a specialist affiliate franchise working in association with The Hereford Group. We specialise in dealing with the unique needs of our corporate clients and their staff needs. Developed to manage a wide range of employee benefits structures and related financial services for a diverse range of clients nationally. With over 20 years experience designing, establishing and mana
ging group pension and provident funds we have gained the ability to discern the unique needs of each client and match with tailor-made solutions.
The drive for this service stems from the Managing Director, Robin McIntosh, who has 24 years experience in the Financial Services Industry within South Africa. His experience in leading teams, deep seated desire to better the lives of others, and knowledge in financial services has culminated in a Corporate Benefits service which cannot be rivaled within Kwa-Zulu Natal. The South African pension system is composed of a non-contributory, means-tested public benefit program, various pension and provident fund arrangements and voluntary savings. The old-age grant provided by the government under pillar 1 is the main source of income for 75% of the elderly population in retirement. This inversely implies that about three quarters of the population reach retirement age without a funded pension benefit. Due to the economic structure of the country, many employees lack access to affordable retirement funding without assistance from employers. Employer-based retirement plans have a long history in South Africa, in place since the Pension Funds Act of 1956 and therefore, over 60% of retirement fund members are necessarily privately administered and funded. A pension is the most efficient and secure manner in which to build up savings for that inevitable milestone when the working population either cannot, or won't want to continue to work. In addition, studies have shown that pensions are the company benefit valued most by employees. A good company pension is a sign the employer is prepared to make long-term investments in staff, not only giving them a salary today, but also providing a lump sum at retirement age. This is a valuable means to attract and retain valuable staff, while simultaneously ensuring the continued lifestyle of the wealth of the business community. The support and education of client management and staff provided by Hereford GroupFocus is crucial in realizing meaningful benefits for all.
