Hereford Groupfocus

Hereford GroupFocus is a Financial Services orientated company, specialising in the establishment and management of Corporate Pension Funds and Insurance Investment on a corporate level. The drive for this service stems from the Managing Director, Robin McIntosh, who has been in the Financial Services Industry within South Africa since 1992. 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.