Helping Employees Build Extra Savings with a Discretionary Account

Helping employees take control of their financial future is more important than ever. While retirement savings are crucial, empowering your employees and members to build wealth beyond their pension fund is equally vital. EasyRetire is committed to empowering employees by providing a unique platform where they can manage their own discretionary investment accounts. As the only platform that allows employees to set up and manage these accounts with ease, we enable businesses to support their teams in building long-term wealth beyond traditional retirement savings.

Why a Discretionary Account Matters for Employees

A discretionary investment account gives employees the flexibility to invest beyond their employer-sponsored retirement fund. Unlike pension and provident funds, which have restrictions on withdrawals, a discretionary account allows employees to:

• Invest additional savings outside of their retirement fund. Discretionary accounts offer access to funds for unforeseen expenses, educational needs, or taking advantage of investment opportunities without affecting retirement savings.
• Diversify their investments across various asset classes, including ETFs, shares, and unit trusts. A discretionary account allows individuals to build additional wealth for specific goals or general financial security.
• Access funds when needed without the limitations of a retirement fund.
• Take control of their financial future by making informed investment decisions tailored to their goals. Even after retirement, a discretionary account can provide a supplementary income stream, enhancing financial independence.

Why Offer Discretionary Accounts to Your Employees? (For Employers)

• Attract and Retain Talent: In today's competitive job market, offering innovative and empowering benefits is crucial. Discretionary accounts demonstrate your commitment to employee financial well-being, making your company an attractive place to work.
• Boost Employee Engagement: When employees feel in control of their financial future, they are more likely to be engaged and motivated in their work.
• Improve Financial Literacy: By actively managing their investments, employees gain valuable financial knowledge and skills that benefit them both inside and outside the workplace.

How EasyRetire Supports Employers and Members

We recognise that many employees may not know where to start when it comes to investing beyond their pension or provident fund. That’s where EasyRetire steps in to assist both employers and members with setting up and managing their discretionary accounts.

1. Seamless Account Setup: EasyRetire simplifies the process of opening a discretionary account, ensuring employees can get started with minimal effort.
2. Employees can align their discretionary investments with their long-term retirement goals, complementing their existing retirement savings.
3. Employer-Assisted Contributions: Companies can opt to facilitate discretionary contributions for their employees, encouraging additional savings without locking funds into a retirement structure.

How Employers Can Encourage Utilisation of Discretionary Accounts

Employers play a crucial role in promoting financial wellness. Here’s how businesses can help employees maximise this opportunity:

• Educate Employees on the Benefits: Host financial wellness sessions and provide educational material on how discretionary accounts can supplement retirement savings.
• Encourage Regular Contributions: Promote a culture of investing by encouraging employees to contribute a portion of their salary to their discretionary accounts.
• Offer Payroll Deductions: Make it easy for employees to invest by facilitating automatic deductions into their discretionary accounts.
• Provide Matching Contributions: Consider offering a matching contribution incentive to further encourage employees to save and invest.

Unlocking Financial Independence

By incorporating discretionary accounts into employee financial wellness initiatives, employers can play a significant role in helping their teams achieve financial independence. EasyRetire is here to support both employers and employees every step of the way, ensuring that everyone has the tools and knowledge to build a secure financial future.

Want to know more about the latest news?

New: Student Economy Investing Theme

How Your Tax Bracket Might Impact Your Retirement Strategy

Why this Pro Runner Moved Her RA to EasyEquities

The upside of having all of your investments in one place

Tax Free Savings Account Power Potential

8 Ways Investors like You Can Profit from Corporate Actions

Any opinions, news, research, reports, analyses, prices, or other information contained within this research is provided by an external contributor as general market commentary and does not constitute investment advice for the purposes of the Financial Advisory and Intermediary Services Act, 2002. First World Trader (Pty) Ltd t/a EasyEquities (“EasyEquities”) does not warrant the correctness, accuracy, timeliness, reliability or completeness of any information (i) contained within this research and (ii) received from third party data providers. You must rely solely upon your own judgment in all aspects of your investment and/or trading decisions and all investments and/or trades are made at your own risk. EasyEquities (including any of their employees) will not accept any liability for any direct or indirect loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on the market commentary. The content contained within is subject to change at any time without notice.