Premier Benefits
Specialises in the administration of retirement funds. The administration is done on a fully integrated financial services administration computer system developed by Lautus Solutions. Premier Benefits and Lautus Solutions are two associated companies with largely the same founder members and owners.
The three founder members have collectively more than 60 years experience in senior positions in the Retirement Fund and Information Technology Industries in South Africa. Some offices and resources are shared and most of the staff has post-graduate qualifications.
The administration service mainly entails the following:
- Contributions of every member are received and verified, premiums for the insurance of death and disability benefits are calculated and paid, fees are calculated and paid, and the balance (the biggest portion) are invested into the agreed and appropriate investment portfolios according to the investment choices of the members.
- Detailed records of the accumulation of the investments of every member are kept over the working lifetime and membership of the retirement fund.
- When leaving employment (e.g. resignation, death, retirement) benefits are calculated and paid according to the Rules of the retirement fund.
Members have Internet access to their own records (e.g. benefit statement, cash flow statement, investment statement). These are kept up-to-date daily.
We are passionate about clean, accurate and up-to-date administration. The key to this lies in the effective use of an excellent system by qualified and experienced staff and through disciplined processes with proper controls.
