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page.keywordsEmployee benefits, Medical aid for employees, Retirement annuities for employees, Group insurance, Business short-term insurance, Key person life insurance, Workplace health and wellness
A group photo of the trustees of Momentum Corporate’s FundsAtWork Umbrella Fund.

FundsAtWork Governance

Acting with care, diligence and good faith.

The trustees of the FundsAtWork Umbrella Pension and Provident Fund work to ensure that all reasonable steps are taken to protect the interests of members at all times. The Fund is guided by good governance, legislation and the Fund’s rules. The trustees act impartially in respect of members and beneficiaries.

The trustees have extensive knowledge and experience, and at least half of the members are independent and have no relationship with Momentum.

FundsAtWork Trustees

The duties and responsibilities of the trustees are governed by legislation and the FundsAtWork Umbrella Pension and Provident Fund rules.

Trustee newsletters

A sponsor trustee is someone who is appointed by the sponsor of the umbrella fund. Their duty is the same as for an independent trustee. In terms of the Pension Funds Act, a trustee owes a fiduciary duty to act in the best interest of members, beneficiaries and to the fund itself. If a trustee fails in their duties, they can be held personally liable for breach of this duty.


Regard Budler

Regard is a qualified actuary and Certified Financial Planner® with over 10 years’ employee benefits industry experience. He has held many roles including, Head of Product and CFO at Momentum Corporate until February 2022. His experience ranges from product structuring, pricing, profitability and strategy across life insurance, retirement funding, including umbrella funds, investments and healthcare.



Meeta Gosai

Meeta is a CFA charter holder and a qualified actuary who specialised in investments. She has over 18 years of work experience, predominantly in asset management, and served as a portfolio manager for many years. She is well versed in the use of derivative strategies to enhance portfolio yield, with a focus on understanding and mitigating the associated risks. Meeta is currently the Head of Income Solutions (Annuities) at Momentum Corporate where she is responsible for the growth of the unit and providing strategic input at EXCO level. She is passionate about retirement savings and improving this landscape for future generations.



Rajeev Keso

Rajeev started his career in the pensions industry as Legal and Technical Officer of the then Institute of Retirement Funds in early 2000, where he published various industry legal updates and legal articles of interest. He liaised with the financial services authorities, SARS and National Treasury where he helped influence regulations to the advantage of retirement fund members. Rajeev joined Momentum Metropolitan Holdings (MMH) in 2008 and honed his skills in pensions, insurance and tax laws. He handles regulatory compliance and often liaises with the FSCA and the Prudential Authority. He also provides legal opinions to the Group, handles legal commercial aspects, product design, litigation and other disputes. He is an Admitted Attorney, Associate member of the Pension Lawyers Association and he represents MMH on ASISA’s Regulatory Affairs Board, analysing and commenting on draft legislation. He is passionate about financial services law and is currently completing an Executive Leadership Programme.


An independent trustee is someone who is not employed by or doesn’t have a material interest in the administrator, the participating employers in the umbrella fund and the sponsor. The independent trustee must also not have any interest in a service provider of the fund. In terms of the Pension Funds Act, a trustee owes a fiduciary duty to act in the best interest of members, beneficiaries and to the fund itself. If a trustee fails in their duties, they can be held personally liable for breach of this duty.


Wanjiru Kirima

Wanjiru is an experienced board member for with-profit and non-profit companies with expertise on retirement funds, medical schemes and consulting. She is an expert in sustainability, B-BBEE transformation and private equity. Wanjiru has gained 25 years’ global finance and pension experience when she held executive management positions at Shell, Mercer and FirstRand Bank. She is the founder of an initiative providing guidance to pension funds to integrate sustainability into the investment process.

BA (Computer Science)


Etienne de Waal

Etienne was admitted as a Fellow of the Actuarial Society of South Africa in 1994. His career in the financial industry spans more than 25 years and he has mostly worked in the employee benefits environment. His employee benefits experience includes serving in various management positions. He is also a retirement funds trustee and director for various companies.



Sandile Mbili

Sandile started his career as an actuarial assistant in 1980. He has held various positions, such as MD and consulting actuary, at Anchor Life, Wits Centre for Developing Business, Munich Reinsurance Company, Safrican Insurance Company, Optimum Assurance, Old Mutual and Momentum. He has been self-employed since 2014 and is the director at African Origins Actuarial Solutions and the adviser to the Member Services Pillar of the National Union of Mineworkers.

BBusSc (Actuarial Science), BCom (Hon. Financial Management)


Dr Olebogeng Selebi

Dr Selebi is a strategic government communications expert at the University of Pretoria, where she completed a PhD in Communication Management. She is also the Associate Co-ordinator for the South African SDG Hub. She has extensive teaching experience, having lectured approximately 2 000 undergraduate and postgraduate students every year. She was also a visiting lecturer at HAN University of Applied Sciences in The Netherlands.

PhD (Communication Management)

An alternate trustee has the same duties as that of a sponsor or independent trustee and can act as a member of the board during the absence of any other trustee.


Shaeera Garbutt

Shaeera joined the industry in 2004 as a retirement funds consultant at Alexander Forbes. She moved to Absa Consultants and Actuaries as strategic consultant and operations manager. She took part in the Absa Development Initiative, offering young people with potential a series of growth opportunities to help them deal with complexity, both emotionally and intellectually. In 2013 she joined Momentum Corporate and is head of Strategic Client Services: Public Sector.



Elsa Taylor

Elsa is a chartered accountant and registered auditor. After she obtained her BComm Honours degree, she did her articles at KPMG. She joined the employee benefits industry in 1996 and gained experience at Alexander Forbes and NMG. She joined Momentum in 2008 as head of the retirement fund accounting department and became the chief financial officer of FundsAtWork and Corporate Insurance. She is currently the chief financial officer of Momentum Health Solutions.

BComm (Hon), CA (SA)


Hilda Martins

Hilda is a certified financial planner with more than 30 years’ experience in employee benefits. She worked at Sanlam for 16 years before joining Momentum in 1999. Hilda worked in various roles, such as accounts executive, regional manager and head of operations. Her overall responsibilities included strategic and operational management and consulting to a national portfolio of clients. Hilda is currently the Head of Client Service for FundsAtWork and Group Insurance.



Siyasanga Kashe

Siyasanga is a seasoned executive and Certified Customer Experience Professional (CCXP) with over 20 years of insurance experience leading operations, technology, marketing, customer experience, digital transformation, and strategic projects across multiple markets on the African continent. She holds an MBA from UCT, plus additional MBA electives from Kellogg School of Management in Chicago and recently completed a Leading Digital Transformation and Innovation Programme from INSEAD Fontainebleau in France. Siya is a member of the Institute of Directors (IoD) having completed their Accelerated Directorship Programme and also serves as a non-executive director on several boards across Africa. As the Executive for Member Solutions at Momentum Corporate, Siyasanga’s key focus is to make employee benefits accessible to all employed in South Africa through educating and empowering members to make better financial choices, prioritising the human experience and service excellence.



Nirendree Reddy

Nirendree joined Momentum Metropolitan (MMH) in 2008 as a Tax Specialist and Tax Compliance Manager and later became the Insurance Tax Manager. Since 2014 she has been the Head of Insurance and Investment Taxes, assisting with developing and maintaining the Group’s tax strategy and related policies and procedures. She is accountable for planning and implementing the best practice framework for MMH’s insurance business and manages all aspects of the Group’s corporate tax compliance. Nirendree is also a member of the ASISA IFRS17 and ASISA Life Work Groups.

MCom Taxation, CA (SA), BCom Accounting (Hon)

FundsAtWork Independent
Principal Officer

Tasked with ensuring that the decisions of the board are executed and that the funds are legally compliant.


Tania Bakker

Tania is a certified financial planner. She began working in 1995 in the employee benefits industry before moving to Absa Consultants and Actuaries in administration, consulting and trustee training for 7 years. Tania consulted for 4 years at Lekana Employee Benefits, which was incorporated into Momentum, and has been an independent principal officer for a number of funds since 2007.

Post Graduate Diploma in Financial Planning (CFP)

Regulatory bodies

We adhere to the guidelines of several institutions and bodies that exist to oversee all aspects of the employee benefits industry in South Africa. The main ones are:

Financial Sector Conduct Authority (FSCA)

Financial Sector Conduct Authority (FSCA)

The FSCA is the market conduct regulator of financial institutions that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures.

The Pension Funds Adjudicator

The Pension Funds Adjudicator

The Pension Funds Adjudicator resolves complaints in terms of the Pension Funds Act; to uphold the integrity of the pension fund industry and to protect the interests of pension fund members.

Contact FundsAtWork

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