Remuniration Policy

Purpose:

This policy will support the overall business strategy as outlined in the business plan of Koinz (Pty) Ltd “Koinz”, by helping to build a competitive, high performance and innovative company with an entrepreneurial culture that attracts, retains, motivates and rewards high-performing employees of the required calibre.

Key Principles:
- To promote the achievement of strategic objectives within the company’s risk appetite;
- to ensure equity of reward for the same level of performance of similar types of work;
- to promote and strengthen positive outcomes across the economic and social context in which the company operates;
- to enable the company to achieve its vision and objectives considering all the relevant external business and economic circumstances, market forces, individual ability and effort;
- to set employees’ total remuneration package at a competitive level by using the market as benchmark and providing incentives geared to agreed performance outcomes;
- to emphasise that the long-term success of the company is directly linked to the calibre of employees and the working environment having the six principles of treating customers fairly as foundation in mind;
- making it imperative to promote and to align the best interests of the company, with that of the employees and all other stakeholders;
- to determine the total remuneration package i.e. base salary, pension, benefits and incentives with a competitive market in mind;
- to encourage the retention of employees with incentives relating to rewarding of their performance;
- to draw a clear distinction between employees who operate in a risk-taking capacity and those who fulfil control functions in the company;
- strive to minimise conflicts of interest by ensuring independence of all employees, and to
- use appropriate metrics to assess performance, level of achievement, risks taken in achieving the determined level of performance after being risk-adjusted accordingly.
Remuneration Outline

3.1. Total cost to Company

The total cost to company that makes up our employees’ guaranteed remuneration is monitored through stringent cost management. This procedure ensures that the cost of the remuneration package paid to employees is properly controlled and does not include excessive liabilities. The total cost to company represents a generally accepted practice for paying employees, which enables accurate and meaningful benchmarking of remuneration packages.

3.2. Bonus

Koinz will at its own discretion determine whether it will pay discretionary bonus based on a percentage of the annual CTC. The bonus is performance-related and will be paid if the Employee achieves pre-agreed targets and if the company has achieved a sufficient level of profitability.

3.3. Provident Fund

Employees shall become a member of the provident fund in which employees of Koinz participate, from time to time. The Employee’s membership of such fund shall be subject to compliance with the rules and regulations of the fund.

In accordance with the current rules of the provident fund, the Company undertakes the liability to pay the full contribution payable in respect of the Employee’s membership of the provident fund. The quantum of the aforesaid contribution shall be determined annually in accordance with the provident fund rules and the Company’s policies from time to time. The contributions payable in this regard shall form part of the Employee’s total cost to Company remuneration

3.4. Group Life Disability fund

100% of the contributions which the Company makes to the Group Life & Disability fund in which the Company participates at any point in time.

Conclusion:

All representatives of Koinz including key individuals and management are required to be dedicated to upholding the highest level of integrity and ethical conduct in all of their activities and relationships with all stakeholders.

Ownership and Accountability

This policy is owned by Koinz (Pty) Ltd, an authorised financial services provider in terms of the Financial Advisory & Intermediary Services Act (37 of 2002) and subordinate legislation.

As Key Individual of the Provider, I, Mark Howard Weetman, hereby confirm the adoption of the policy on behalf of the governing body of the Provider. I hereby accept responsibility for the successful training of employees and successful implementation of this Policy.

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