Benefit
Basis
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).
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