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FundsAtWork members

We understand that each individual’s financial journey and needs are unique.

Your family, your job, your health and your income are just some of the many things that make up your world. At the core of our FundsAtWork product solutions is the ability to meet your unique needs with innovative products that offer flexibility, ease of use and value for money, as well as transparent information and services.

Individual member benefits:

  • Relevant, regular communication through sms and email subscriptions
  • Real-time information and benefits on www.momentum.co.za/fundsatwork
  • Online tools educating members of their needs and benefits
  • Contribution flexibility and investment switching
  • FlexiCovers, Life Eventing and Family Protector PLUS benefits
  • Auto-preservation and option to continue cover on exit
  • Multiply
  • Home loans

FundsAtWork benefits
Retirement product options Open

Our retirement and preservation product options are designed to facilitate income continuation for when you reach retirement and are ready to enjoy your golden years. Preparing for retirement should start as early as your first job.

Your employer and the advisory body make the initial selection of benefit options, contribution rates and investment portfolios. This is called the default option and you can decide to move out of it if you find that it does not suit your financial needs.

If you wish to select a product option outside of the default option, it's best to do so with the help of your financial adviser. They can help you to make the best financial choice, taking your needs into account.

At FundsAtWork we have three product options and we have selected a range of investment portfolios that match the investment requirements of each option. The product options are as follows:

The product options available to you are summarised below.

  • Founder - suitable if you need to protect your capital while targeting inflation-beating returns over long-term periods in excess of five years.
  • Provider - offers a range of investment portfolios targeting inflation plus 3% to inflation plus 7%, a range of guaranteed portfolios as well as the life stage solution.
  • Entrepreneur - suitable if you want to structure a specific and unique investment profile using a selection of unit trusts and Momentum portfolios.
Umbrella funds
Founder Provider Entrepreneur Standalone Insurance
Trustee Choice Portfolio - Momentum Enhanced Factor 3

Momentum Smart Passive +4
Lifestages
Momentum Lifestages

Guaranteed range
Momentum Multi-Manager
Smooth Growth Fund Global
Momentum Smart Guaranteed +3

Inflation linked
Momentum Enhanced Factor 7 (CPI + 7%)
Momentum Enhanced Factor 6 (CPI + 6%)
Momentum Enhanced Factor 5 (CPI + 5%)
Momentum Enhanced Factor 4 (CPI +4%)
Momentum Enhanced Factor 3 (CPI + 3%)
Trustee Choice Portfolio

Momentum Enhanced Factor 3
All Provider portfolios

Momentum Smart Passive +4
Momentum Passive Lifestages

Momentum Money Market
Momentum Balanced

Momentum Multi-Manager Momentum Market
Momentum Multi-Manager Balanced
Momentum Multi-Manager Aggressive
Momentum Shari’ah
Momentum Super Nation
Momentum Bond
Momentum Capital Plus
Momentum Gold Bullion
Momentum AM CPI+5% Global Fund

Over 300 unit trusts
Not applicable
Preservation funds
Founder Provider Entrepreneur Standalone Insurance
Same as the umbrella funds Same as the umbrella funds Same as the umbrella funds Not applicable
Insurance product options Open

FundsAtWork insurance income continuation benefits help to minimise the impact of unexpected life-changing events that could leave you unable to earn an income due to illness, dread disease, disability or death. Our products are designed to provide the cover needed in the event that you can no longer earn a regular income.

  • Spouse's and children's pension (SAC) - A monthly benefit is paid to your spouse and children on your death while in service of the employer. The monthly benefit cannot exceed 100% of your monthly salary.
  • Spouse's life cover - This is a monthly lump sum benefit paid to you on the death of your spouse
  • Accidental death - This is a lump sum benefit paid out if you die as a result of an accident.
  • Dread disease - If you are found to have one of the essential and inclusive conditions as listed in the policy document, the benefit pays you either 100% of the benefit amount for life threatening conditions or a percentage of the benefit for non-life threatening conditions.
  • Temporary income disability (TTD) - This benefit provides you income disability cover during the waiting period of PHI or PTD. An income is only paid on disability, after expiry of the waiting period, for a limited period of time, after which all payments cease. This benefit pays a monthly income while you adjust your lifestyle and possibly make alternative working arrangements.
  • Group life cover (GLA) - On your death, the cover is paid as a lump sum. The maximum total benefit is 10 times annual salary.
  • Family protector - The Family Protector benefit comprises three parts, namely, funeral benefits, education benefits and health premium waiver benefits. The funeral benefit pays a lump sum if you or your spouse or child dies; the education benefit pays a lump sum upon your death for the beneficiaries' education and the health premium waiver pays for the medical aid for a period of 12 months after you have passed away.
  • Lump sum disability benefit (PTD) - You will be paid a lump sum should you be found to be totally and permanently disabled in terms of the fund policy.
  • Permanent health insurance (PHI) - Should you become disabled in terms of the policy, a monthly benefit is payable until you recover or retire or die or live outside South Africa for more than 12 consecutive months unless an arrangement is made with Momentum.

Insurance benefits are available on all three product options; Founder, Provider, Entrepreneur, as well as on a standalone basis without the retirement component

About FundsAtWork Family Protector

FundsAtWork Family Protector is designed to protect your world and offers you funeral, education and health waiver benefits for your family in the event of your death or if you become disabled.

FundsAtWork Family Protector covers:

  • Funeral expenses - basic payouts if a member or family member dies.
  • Education expenses - basic payouts if a member dies.
  • Medical Aid Expenses - extension of medical scheme cover if a member gets disabled or dies

You can also choose to increase the family protector benefit from BASE to PLUS option allowing you to add more children, parents / parents-in-law and even increase the cover amount.

To find out if you have enough life and disability cover, use our insurance calculator.

Preservation Open

What options do you have if you leave your employer due to resignation, retrenchment or dismissal?

  • If you do not continue saving your retirement benefit, your lifestyle expectations at retirement age may not be met and this could have a negative impact on your overall financial wellness.
  • We encourage you to preserve your retirement savings when you leave your current employment, whether due to resignation, dismissal or retrenchment. Your benefit is transferred without having to pay tax.

Preservation funds product options:

  • The preservation funds offer the same product options and investment portfolios as in the umbrella funds.

Family Protector benefits:

  • If you transfer your retirement savings benefit from the FundsAtWork Umbrella Funds to a FundsAtWork Preservation Fund, you can keep the Family Protector BASE funeral benefit at no monthly fee.

Automatic preservation:

  • FundsAtWork Umbrella Fund members have the option of saving their retirement benefit automatically, meaning that the balance in their retirement savings account will not be disinvested from the market if they choose to transfer it to the preservation pension or provident fund. The savings will stay invested without losing growth.
Lifestyle benefits Open

Home loan facility

  • With your employer's agreement, you can have access to a pension-backed home loan facility at competitive rates. Your employer must choose to partner with either FNB or Standard Bank for you to enjoy this benefit.
  • The loan facility can only be used to buy or renovate your primary residence and must be paid off before withdrawing or retiring from the FundsAtWork Umbrella Funds.

How to apply:

  • If your employer has made this facility available on your scheme, you can apply at any FNB or Standard Bank branch (whichever is selected by your employer) for your home loan. If your loan is approved, the selected bank will notify us and we will record the loan amount against your fund benefit.
  • At claims stage, we will pay the home loan first and then pay you or your beneficiaries the balance of your benefit.

Multiply wellness & rewards programme

  • Momentum's wellness & rewards programme is available to all FundsAtWork members.
  • The FundsAtWork Multiply benefit rewards you depending on the health of your heart. Click here for information on how you can get the rewards paid into your FundsAtWork retirement savings account, your Momentum Health HealthSaver account or converted into Pick n Pay smart shopper points.
  • For more information on Multiply, click here
FundsAtWork online convenience Open
  • All members are able to access their FundsAtWork benefits via www.momentum.co.za secure site. The site is designed for secure and convenient online management of your information and transactions, which mean, you can be in charge of your benefits.
  • This transparent online tool gives you access to your personal and scheme information, the ability to track the balance of your retirement savings account, insurance and lifestyle benefits, as well as make changes to your personal details, beneficiary nominations, product option, investment portfolio and insurance benefits.
  • Members can access the website by using the login details provided post installation. These include your username, user id and pin. To activate this information you would need to log on or call our contact centre on 0860 657 582.

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Contact FundsAtWork

Speak to us for customised financial solutions tailored to your business and staff needs.

Contact centre
0860 657 585
Fax
012 675 3970
clientcontactcentre@momentum.co.za