Momentum Retirement Administrators for Corporates Review 2024

Momentum Guaranteed Life Annuities

Administration of funds requires a certain skill set and due diligence. A lot of things can go wrong if funds are not handled accordingly. The changes in the financial markets and the triumph of technology have since demanded fund administrators to always be up to date with what is going on in the financial markets. 

Fund administrators go through a lot and their due diligence is what makes them different from any other type of investor. Managing risk is one of their key strengths since they deal with money. Fund administrators are trusted with so much and still need to reach targets at all times. 

Choosing a retirement administration company can be tricky for employers. They need to make sure that their employees’ life savings are investments and are managed by reliable agents. Therefore, choosing one retirement administration company over a bunch can be cumbersome. 

Partnering with a retirement administration agency like Momentum can make the lives of the employer and the employees easy. Momentum involves the fund administrators,  the employer, and the unions to deliver the intended outcomes of the fund they administer. 

Momentum also mitigates risk through insurance. Insurance is taken to manage the risks involved in investing to ensure that members have sufficient cover to deal with unexpected events. 

What is  Momentum Retirement Administrators? 

Momentum Retirement Administrators provides comprehensive retirement fund oversight solutions that focus on engaging trustees, unions, and employers. The platform aims to empower members of retirement funds by providing accessible and understandable information, facilitating better financial decision-making.

Prioritizing the members of the retirement fund, Momentum supports them in making sound investment decisions for their retirement. The platform not only aids members in making informed choices but also provides guidance on saving adequately for retirement.

Why choose Momentum Retirement Administrators? 

Momentum Retirement Administrators is dedicated to guiding each member on their path to financial success. Through meaningful engagement and tailored solutions, Momentum brings over a century of expertise in fund administration services since the early 1900s.

With a track record of servicing numerous retirement funds, Momentum serves over 600,000 members with assets totaling R250 billion under administration. Choosing Momentum means opting for flexibility, with customizable options such as flexible investment choices, pooled investment arrangements, life stage models, and personalized member investment options.

The capabilities of Momentum Retirement Administrators are extensive. Managing 40 retirement funds, including complex ones, the platform retains decision-making control, ensuring it remains a pivotal decision-maker for your retirement fund’s success.

Contribution Management:

Momentum Retirement Administrators efficiently handle diverse and complex data formats related to contributions. Our integrated contribution process aligns with Section 13A of the pension fund act, ensuring accurate allocation and investment of contributions.

Member Data Management:

Our retirement fund solution provides employers with real-time access to member data through a web-based tool. This tool facilitates easy information retrieval, online claim management, and data submission, enhancing accuracy and efficiency in data management.

Insurance Benefit Management:

Our solution streamlines the process for members to access insurance claims and benefits promptly. Whether insured by Momentum or another insurer, our system allows for self-insurance options and manages the entire claiming process, relieving policyholders of administrative tasks.

Claim Payments:

We leverage technology to simplify the claims process for our clients. Members can submit claims online via our employers and members portal, ensuring accuracy through validation before submission and reducing turnaround time for claim processing.

Unclaimed Benefits:

Momentum implements a robust governance process to optimize outcomes for beneficiaries of unclaimed benefits. We work with tracking agents to expedite claim payments and settle tracing fees efficiently. Unclaimed benefits are invested until disbursed to maximize returns for members.

Member Communication:

Effective communication is vital for informed financial decisions. Momentum tailors member communication to elucidate benefits clearly, aiding members in making sound decisions throughout their journey, using mediums like newsletters, member booklets, benefit statements, and educational materials.

Annuity Administration:

Our solution is adept at administering various annuity types, including life, living, and hybrid annuities. We automate monthly payments to pensioners, issue payslips, and handle tax deductions and other adjustments as required.

Fund Accounting:

Momentum offers a comprehensive accounting package to maintain up-to-date records. We produce annual financial statements compliant with FSCA regulations and customize management accounts to meet specific fund requirements.

Member and Pensioner online application 

Members and pensioners can use the Momentum app or online portal to transact securely. Other features available to members and pensioners include switching of portfolios and viewing correspondence. 

Conclusion

Momentum Retirement Administrators solution is a solution that is there to help members and employers of a retirement fund to achieve their desired outcomes. The solution helps in communication, claims, investment administration, and more. If you want your fund to be administered by professionals then Momentum Retirement Administrators solution is for you.

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