Do you pay in to a retirement fund for your employees?

[Grant]

If you're a business owner and have a group of employees, do you give them a retirement fund? I have never worked for a company that gave me health insurance or a retirement fund or anything, but it's something I wish I had going. I am saving up for my retirement my own way, but I wish there was a way to make more towards retirement faster.

Anyway, what do you pay in for your employees if you pay in for their retirement?

 

[Kane]

Apart from the monthly salary, I have not paid anything to my staff. I can't even if I want to. My business makes very little money so I cannot give extra perks like paying for their retirement funds. However, sometimes I give bonuses when my business manages to make a lot of sales.

 

[Grant]

Apart from the monthly salary, I have not paid anything to my staff. I can't even if I want to. My business makes very little money so I cannot give extra perks like paying for their retirement funds. However, sometimes I give bonuses when my business manages to make a lot of sales.

That's fair. You don't need to do this for everyone you hire. I'm assuming you hire people for temp jobs, and have hired mostly from freelance sites right? I don't think you'd need to provide benefits to those types of workers. I wouldn't call them employees unless it's a 9-5/Full time job.