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News & Insights

Incentivising Staff - Our Corporate Solutions

Through our Trireme Pension Services' offices in Guernsey and Malta and our new office in the UAE the Praxis Group provides innovative solutions for employers wishing to reward incentivise or retain employees via an employee benefit programme.

We offer a variety of plans to suit all types of companies whether it is a single office company or a multinational with many offices in multiple jurisdictions. The Group is not bound by geographic restrictions and is able to establish plans for US connected companies and employees.

Our solutions can be designed to exacting standards and will often be in the form of an end of service gratuity plan or an international pension plan but in all cases can be tailored to the bespoke requirements of the employer.

The Group's main focus is to provide a cost-effective solution whilst using modern day technology to improve efficiency reporting and seamless administration.

It is well-known that employees are incentivised by more than just salary. The law of some jurisdictions leaves this to the discretion of the employer. However others have a mandatory requirement for employers to contribute to a benefit programme on behalf of employees.

For example within the UAE labour law has mandatory application and entitles employees to an end of service gratuity from their employer. Increasingly UAE employers are using trust-based arrangements run by independent third party Trustees and Administrators in order to segregate funds to meet this liability. Praxis has offices situated in the Abu Dhabi Global Market with a highly experienced team to provide end of service benefit and a wide range of employee benefit services to UAE-based and international employers.

The long-term security that a well-established employee benefit programme offers to employees can be the difference between staff retention and losing key employees. Employees who can see that their future is being protected by their employer are more likely to be secure in their roles resulting in greater productivity and loyalty.

We provide in-house administration and full trustee services for a wide range of employee benefit solutions. These can be simply providing back office pension administration or designing implementing and administrating a wholly bespoke employee benefits plan. The features of each plan can be adapted to fit the needs of the employer as listed below:

  • End of Service Gratuity Payments
  • Defined Contribution
  • Deferred Compensation
  • Share Benefit Options
  • Bonus Vesting
  • Contribution-matching Options
  • Pension Payroll
  • Flexible Investment Solutions
  • Portability
  • Multi-currency
  • Specific US Member Planning
  • Monthly Quarterly or Annual Funding Options

The day-to-day operation of each plan is designed with simplicity in mind. Our policies and procedures have been developed over many years working with globally diverse companies and individuals and we believe they maximise flexibility within a compliant environment.

The Praxis Group has dedicated employment benefit specialists in Malta Guernsey and the UAE and can leverage from the Group's wider network of offices and resources to the benefit of its clients.