Our Services

Employee Benefit Services

• Employee Benefit
  Services
  • Record keeping
  • Contributions updates
  • Claims processing
  • Member statements
  • Reporting
    • Statutory
    • Member
    • Trustee / Sponsor
  • Accounting Services
    • Audited Accounts
    • Management Accounts
    • Annual Audits
    • Signatories

Technical Services

• Consultancy Services
  • Handbooks
  • Documentation
  • Plan Designing
  • Rule  changes
  • Benefit  consultancy
  • Actuarial  valuations
  • Trustees  Training
  • Risk  benefits
  • Secretarial Services

Our Products

Pensions Fund Administration

Saturnia Regna – Saturnia Regna Pension Fund Registered Trustees (SRPF-RT) incorporated in 1992 was the first Pensions product developed by Bencon’s predecessor. Saturnia was established to provide an investment platform for large and small employers alike. It operates as a multi-employer (umbrella) fund where multiple and unrelated employers join to take advantage of economies of scale and risk pooling, which potentially translates to significant reductions in overall costs, more so the unit cost. It stands in contrast to a standalone solitary fund established on behalf of a single employer.
This option provides the least number of registration requirements for a new participating employer. This pooled fund has standard governance documents ranging from the trust deed, rules, code of conduct of trustees, administration, and investment agreements, investment policy and other necessary legal documents. A new entrant is only required to sign a participation agreement or deed of adherence to become a member. Once a corporation becomes a member, all necessary legal documents are shared for information and adherence.
Joining this fund offers the easiest and quickest route to membership.

Golden Sunset – The Golden Sunset Pension (GSS) was launched in 2015 to provide an alternative to the Saturnia Regna Pension Fund. Though structured in similar manner to SRPF, the GSS provides an alternative to SRPF through a wide range of investment options to an employer seeking to take a more active role in the administration of the Fund. There are currently more the 15 participating schemes, and this number continues to rise, making it the fastest growing pooled fund in present times.

Pensions Fund Consulting

Advisory Services – We offer a wide array of services from retirement fund planning and implementation, advisory services, financial management, secretarial and other trustee services, compliance and regulatory reporting, trustees training, and member training and HR/payroll support

Investment Advisory

Bencon Gratuity Fund – Gratuity is a benefit that an employee receives from its employer when employed under non-permanent and pensionable service. The Bencon Gratuity Fund is a pooled fund designed to administer and invests gratuity fund provisions for employers before they fall due. While many employers opt to make a provision for employees’ accrued gratuity, the Gratuity Fund provides for an instance where no liquid cash is available to immediately honour the obligation when gratuity falls due or a separation happens. It is prudent for employers to set aside funds as the employee liability materialises, usually every completed month of employment, leading to an increase in accrual. However, setting aside accrued gratuity on a month by month basis into our Gratuity Fund will help the employer avoid sudden payments of huge sums and lead to poor cash flow. It also helps maintain clean books of accounts for the employer. This make the Gratuity Fund a must have product for smart employers.