Provident Fund Momentum

Planning for retirement is something you can’t do without. With the cost of living rising, it’s important to have enough money to support your retirement. So having a pension or provident fund is helpful.

A provident fund is a fund set up by an employer to which both the employer and the employee pay a fixed percentage of the amount each month.

This fund is suitable for low-income individuals who cannot benefit from tax credits because their income is below the taxable limit. Provident funds give you more flexibility in your retirement.

After you retire, you can withdraw the full amount if you wish.

Momentum, a financial services provider that was established in 1966, strives to offer superior financial services. The institution offers a broad range of advice, insurance, investments and health offerings. FundsAtWork from Momentum administers the Momentum Provident Fund.

With this service from FundsAtWork, retirement and preservation product options are designed to facilitate income continuation for when you reach retirement.

Momentum encourages clients to preserve their retirement savings when they leave their current employment.

By choosing a Momentum Provident Fund you can be assured of getting relevant, regular communication from the company.

Should you want to withdraw your funds, you should first make sure that your tax affairs are in order. With the Momentum Provident Fund, the entire benefit may be taken in cash, or alternatively can be applied in whole or part to purchase a compulsory annuity.

You’ll have to submit the required documents, such as your ID copy, completed instruction form stating where the money should go, as well as proof of banking details.

Momentum operates with a value-system based on transparency, flexibility, value for money and ease of use.