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Momentum Corporate demystifies complexities in the employee benefits arena

21 September 2021 1:16 PM
Tags:
nominees
Momentum
employee benefits
pensionable salary
umbrella retirement fund

Momentum Corporate member solutions executive Ncumisa Madinda speaks to Mandy Wiener on how benefits can be understood better.

While many people have employer benefits through their employers, they often shy away from understanding these benefits as they can be so complex.

What does industry terminology like pensionable salary, nominees and umbrella retirement funds?

The coronavirus has really underlined the value of group benefits like death, disability and illness cover which protect families from financial catastrophe when life happens.

Momentum Corporate member solutions executive Ncumisa Madinda speaks to Mandy Wiener on the Midday Report on how benefits can be understood a lot better.

The research that Momentum did shows that many institutions dealing with consumers believe that most South African consumers are not financially literate.

Ncumisa Madinda, Member solutions executive - Momentum Corporate

She adds that research shows that retirement fund members especially the younger generations are unfamiliar with industry terminology.

Unless we empower South Africans with the right financial knowledge and also encourage them to make financial choices, people will always be hamstrung on their journey to financial success.

Ncumisa Madinda, Member solutions executive - Momentum Corporate

Listen below to the full conversation:




21 September 2021 1:16 PM
Tags:
nominees
Momentum
employee benefits
pensionable salary
umbrella retirement fund

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