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FundsAtWork employers

Business growth, sustainability and employee wellbeing are amongst the most important aspects of an employer’s world.

With FundsAtWork income replacement solutions you can assist your employees to understand and manage their financial wellness. Selecting appropriate product options for your business size and employees is an important step towards protecting your world i.e. your business and that of your employees.

At the core of our product design is the ability to meet your unique business and employee needs with our product range that offers flexibility, ease of use and value for money, as well as transparent information and services.

FundsAtWork's product range includes a cost effective solution which offers limited choice to an option for the most financially sophisticated individual which offers a wider choice.

Benefits for my employees
Retirement benefits for your employees Open

Your financial adviser's guidance and needs analysis process will assist you when making the initial selection of the default contribution rates, the default investment strategy, and the insurance benefits that will be made available to members.

FundsAtWork's comprehensive insurance, retirement, preservation and lifestyle benefits are designed with the flexibility required to meet your needs.

At FundsAtWork we have four 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:

  • Founder - suitable for members who need to protect their 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 for members who want to structure a specific and unique investment profile using a selection of unit trusts and Momentum portfolios.
Insurance benefits for your employees Open

FundsAtWork insurance income continuation benefits help to minimise the impact of unexpected life-changing events that could leave your employees 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 they can no longer earn a regular income.

  • Spouse's and children's pension (SAC) - A monthly benefit is paid to the spouse and the children on the death of a member while in service of the employer. The monthly benefit cannot exceed 100% of the member's monthly salary.
  • Spouse's life cover - This is a monthly lump sum benefit paid out to the member on the death of a member's spouse
  • Accidental death - This is a lump sum benefit paid out on the death of a member if death is as a result of an accident.
  • Dread disease - If the member is found to have one of the essential and inclusive conditions as listed in the policy document, the benefit pays the member 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 income disability cover to employees 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 employees can adjust their lifestyle and possibly make alternative working arrangements.
  • Group life cover (GLA) - On the death of a member, 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 a member or the member's spouse or child dies; the education benefit pays a lump sum upon the member's death for the beneficiaries' education and the health premium waiver pays for the medical aid for a period of 12 months after the member has passed away.
  • Lump sum disability benefit (PTD) - A lump sum is paid to the member should they be found to be totally and permanently disabled in terms of the fund policy.
  • Permanent health insurance (PHI) - Should the member become disabled in terms of the policy, a monthly benefit is payable until the member recovers or retires or dies or lives 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.

Download the Needs based insurance solutions table to learn more.

To find out if you or your employees have enough life and disability cover, use our insurance calculators.

Family Protector

FundsAtWork Family Protector is designed to protect your employees' world and contributes towards the financial wellness of their families. It facilitates income continuation (product choice dependant) for family and loved ones in an event of the member's death or disability.

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

FundsAtWork Family Protector covers the following:

  • 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.
Preservation Open

Retirement savings preservation with FundsAtWork

What options do your employees have if they leave your company due to resignation, retrenchment or dismissal?

  • Those who do not continue to save their retirement money will find that their family's financial wellness and their lifestyle expectations at retirement will be adversely affected.
  • We encourage employees to continue their retirement savings so that they can continue their standard of living all through their retirement years.
  • Our preservation funds are designed to place or 'park' benefits when employees leave their employer before reaching normal retirement age. The retirement fund savings are transferred without you having to pay tax.

Preservation funds product options:

  • FundsAtWork members will be transferred to the same product option and investment portfolio as they were in the umbrella funds.

Family Protector benefits:

  • Members can keep the Family Protector BASE funeral benefit at no monthly fee when they transfer their retirement savings benefit from the umbrella funds.

Automatic preservation:

  • FundsAtWork Umbrella Fund members have the option to save their retirement savings automatically, which means that the balance in their account will not be disinvested from the market. The savings will stay invested without losing growth.
Lifestyle benefits Open

Home loan facility

  • Your employees can have access to a pension-backed home loan facility at competitive rates if they do not have access to home loan funding.
  • The loan facility can only be used to buy or renovate a member's primary residence and must be paid off before a member withdraws from the FundsAtWork Umbrella Funds.

How to apply:

  • FundsAtWork members can apply at any FNB or Standard Bank branch for a home loan facility.
  • The bank notifies FundsAtWork once the loan facility has been granted.
  • At claims stage, we will pay the home loan first and then pay the member or their beneficiaries the balance of their benefit.

Multiply wellness & rewards programme

  • Momentum's wellness & rewards programme is available to all FundsAtWork members.
  • The FundsAtWork Multiply benefit rewards members depending on the health of their heart. Click here for information on how members can get the rewards paid into their FundsAtWork retirement savings account, their Momentum Health HealthSaver account or converted into Pick n Pay smart shopper points.
  • For more information on Multiply, click here.
FundsAtWork online convenience Open
  • Employers have instant online access to their scheme's information. The employer portal is web-based and helps you manage your world more efficiently.
  • You can quickly and securely add and update your employees' information online, which can eliminate the need for paper-based tasks and reduce turnaround times for general data maintenance at month-end and claim stages.
  • You 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
012 675 3970