Benefit Basis - The benefit structure of a group insurance policy or pension arrangement. It defines the type and level of benefits for each category of membership. For example, life assurance cover for one category of employees might be 3 x salary and for another category of employees it might be 4 x salary (the categories must be clearly defined groups in terms of jobs carried out so as to ensure there is no illegal discrimination).
Benefit Basis : the benefit structure of a group insurance policy or pension arrangement. it defines the type and level of benefits for each category of membership. for example, life assurance cover for one category of employees might be 3 x salary and for another category of employees it might be 4 x salary (the categories must be clearly defined groups in terms of jobs carried out so as to ensure there is no illegal discrimination).
Benefit Basis