Key terms - EOSB User Manual

Term	Meaning
Employer profile ID	Your organisation’s reference on the platform, such as `EMP-1792204467687-1001`. It is also your username.
EOSB	End-of-service benefit: the amount an employee is owed when they leave, based on their salary and length of service.
EOSB trust	The trust that holds your employees’ benefits. Each employee is assigned to one.
Trustee	The organisation that controls the trust’s money. It confirms your payments and approves benefit payouts.
Fund manager	The organisation that invests the trust’s money and pays its running costs.
Opening balance	The benefit an employee had already earned before they were added to the platform.
Monthly accrual	The benefit an employee earns in one month. The platform adds it automatically after each month ends.
Accrued benefit	Everything the employee has earned so far: opening balance plus every monthly accrual.
Total liability	The sum of every employee’s accrued benefit — what you would owe if everyone left today.
Funded amount	Money confirmed into the trust, plus investment income.
Funding ratio	Funded amount divided by total liability. 100% means the trust holds enough to pay every benefit.
Funding proof	Evidence of a payment you made into the trust by bank or mobile money. The trustee confirms it.
Final settlement	The benefit worked out for an employee when you terminate them. The trustee approves it before it is paid.
Expense budget	The fund manager’s plan for the trust’s running costs, such as audit and management fees. You approve it.
SmartPay wallet	A digital wallet. Employees get one when they are registered; employers can pay from one when it is linked.