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Retrenchment Benefits

To help companies carry out fair and responsible retrenchment at the lowest possible cost

Here’s how it works:

MEMBERSHIP FEE

To be part of our Retrenchment Benefits, your company has to pay $9.99 a month for every employee covered.
Each membership term lasts for 1 year.

PREMIUM

The premium for each employee is $480 annually.
This premium is kept in your company’s Bandboo Account and belongs to your company.
It is drawn down only when there is a claim on the platform.
All unused premiums are fully refundable at the end of each membership term.

COVERAGE

For every employee retrenched, a payout is made to the employee on behalf of the company.
Each payout is equivalent to 3 months of the employee’s gross salary, up to a total of $18,000.

FREE CONSULTATION

Drop us an email today at info@bandboo.co.
Our relationship manager will visit your company to explain how you can benefit from joining our Retrenchment Benefits community!