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Momentum FundsAtWork makes it their business to understand the working environment

Momentum  |  22 August 2014

FundsAtWork, Product, Media release

The Momentum DNA of financial wellness partnership forums kicked-off in Polokwane on 21 July 2014 and the forum was dedicated to profiling Momentum’s entire product range.

FundsAtWork which complements the rest of Momentum’s suite of products consists of an established and award winning umbrella fund that delivers innovative and flexible products that cater for the retirement and insurance needs of any company. Based on thorough client research and recognising that small businesses have industry nuances, FundsAtWork has designed tailored employee benefit packages that range from retail and hospital to professionals and mining. This implies that employers can utilise existing packages without having to engage in any research of their own.

During the DNA forums, FundsAtWork shared their broad understanding of the changing client behaviour with emphasis on the small business employer needs.

With Momentum's focus shifting to a client-centric approach which is underpinned by their clients' financial wellness, FundsAtWork has also embraced the concept by pin-pointing how they can assist fund members to improve their individual financial wellness. As a result, Momentum highlighted the fact that their products make provision to meet both the employer's and the individual member's needs at various stages of their lives.

This includes assisting fund members to increase their retirement savings by offering a preservation fund where members can invest their money when they leave their employer. FundsAtWork also offers a default with profit annuity at competitive pricing when members retire. Members can also take individual insurance policies when they transition from one employer to another.

From an innovation point of view, FundsAtWork provide fund members with a completely transparent, transactional and live website where they can freely switch portfolios, update their details, see the performance of their investment portfolios and track how much money they have saved. Employers are also given access to a fully transactional and live website, called the "employer portal" which can be utilised for their monthly reconciliation, inform FundsAtWork about claims and see reports amongst many other functions.

This brilliant first in South Africa enables members to receive their withdrawal benefits in cash, the day after they have left their employer but this will only happen if all SARS related matters are up to date.

True to their innovative nature, Momentum's FundsAtWork makes it their business to offer solutions that facilitate the sustainable financial wellness of their clients and their employees.

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