Efficient Benefit Consulting is a specialist independent employee benefits consulting company that focusses on providing customised, value-added retirement fund solutions to members, employers, and Boards of Trustees.
Efficient Healthcare Consulting prides itself on providing independent advice, as we do not own any white-label products. We collaborate with various providers in the market to ensure your company’s needs are met.
Our Retirement Benefits Counselling Service, highlighted by the Default Regulations effective from 1 March 2019, is crucial given that only about 6% of South Africans can meet their retirement income goals, and 97% withdraw their savings in cash upon resignation or retrenchment. The Pension Funds Act mandates access to counselling when members join, leave, or retire from the fund. Our service offers access to counsellors at walk-in centres or via email and telephone, proactive contact, regular communication, and customisable contact frequency. Counsellors provide information on available options, including default annuity and preservation options, and explain tax implications, performing calculations if requested. Communication is clear, simple, and available in all South African official languages. Members can be referred to accredited financial advisors if needed. EFBC provides quarterly reports on member interactions, ensuring member interests are protected as required by Section 7C of the Pension Funds Act.