Originally established in 1966, the institution merged with Sage in 2005- thus contributing to making it one of South Africa’s leading insurance and asset management providers. The company handles assets of more than R206 billion for more than 744 000 retirement fund members.
Retirement fund members can be assured that their funds are invested safely. Through the Momentum Pension Fund, individuals can secure their financial future.
Having a pension fund ensures that you have enough money saved to ensure that your retirement years are financially comfortable.
Life can be unpredictable however, and many people find themselves facing financial challenges once in a while. This is when it can be useful having access to funds in your pension fund. Being able to withdraw from your pension fund can be helpful for getting access to extra cash when you need it most.
How the Momentum Pension Fund Withdrawal works:
FundsAtWork administers the Momentum Pension Fund. It provides income continuation through insurance, retirement and preservation solutions. The service provided is designed to facilitate income continuation for when a member reaches retirement.
If you do however need to withdraw funds, this is possible.
You first need to download the Momentum Pension Fund Withdrawal Form.
- Complete the field and sign.
- Ask the authorised signatory at your employer to sign the form.
- Include a copy of your ID and proof of banking details.
- Scan and email to firstname.lastname@example.org and Cc email@example.com
When withdrawing funds, you have options to:
Take the whole withdrawal benefit in cash
Transfer the whole withdrawal benefit to an approved pension fund, approved pension preservation fund or approved retirement annuity fund.
Take a portion of the withdrawal benefit in cash and transfer the balance to an approved pension fund or approved retirement annuity fund.
- Indicate the Rand amount or percentage you want to withdraw in cash.
- Sign the declaration.