Momentum Pension Fund- Simple Retirement Saving Solution
Momentum is a financial institution that was founded in 1966. Following a number of changes, the company became known as Momentum in 1973. Offering superior financial services, Momentum offers a broad range of advice, insurance, investments and health offerings.
The company handles assets of more than R206 billion for more than 744 000 retirement fund members. 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.
Individuals who are saving for retirement get to choose between a pension fund and a provident fund. Each option has its own set of advantages and disadvantages, so individuals need to choose wisely to secure their financial future.
Momentum offers a pension fund service that is designed to give retirees a suitable option for their savings.
The Momentum Pension Fund is administered by FundsAtWork. The administrators offer solutions that enable income continuation for various life circumstances and events.
FundsAtWork offers retirement and preservation product options that are designed to facilitate income continuation for when a member reaches retirement.
Momentum Pension Funds include the likes of:
- Southern Staff Pension Fund
- Pfizer South African Pension and Life Assurance Scheme
- Legal and General Assurance Society of S.A. Ltd Services Staff Pension Scheme
- Cape Asbestos Provident Fund
- Southern Field Staff Pension Fund
Through your working life you need to make sure that you save enough money to give you a comfortable lifestyle throughout your retirement years. The Momentum Pension Fund offers a viable solution for saving money for retirement, for various companies as well as individuals.
The company also offers options for pension fund withdrawal. Individuals have the option to take the whole withdrawal benefit in cash or to transfer the whole withdrawal benefit to an approved pension fund.