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A financially secure, middle-aged couple holding hands and walking barefoot along the beach in overcast weather.

Momentum Traditional

Long-standing insurance policy administrators

We administer traditional policies, including life assurance, investments and retirement annuities.

These older policies include Momentum policies which commenced prior to 2002 and other policies we’ve assumed responsibility for from companies such as Sage, LifeGro (formerly Legal & General), Southern Life, Odyssey, and others. (View the complete list of companies).

Get instant access to your Traditional policy details when you register online or via the Momentum App.
Find out if your policy is being administered by us.
Get expert assistance to manage your policy.

How to get the most out of Momentum Traditional

Keeping track of your long-standing insurance policy administered by Momentum Traditional has never been easier! Register online or access your policy via the Momentum App and get peace of mind, knowing you’ve secured a financial future for yourself and your loved ones.

A lady with coffee in hand logging into the Momentum App to access her Traditional policy details.

Take advantage of our self-service features

Registering online gives you access to your policy details anytime, anywhere. Log onto the website or download the Momentum App to view your policy statements that include your beneficiaries and benefits. You can also download your tax certificate.

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Get specialised support

Our knowledgeable service team is equipped to handle requests, resolve queries and explain the specific terms of your policy. Get financial advice tailored to your life goals with our network of trusted financial advisers.

Momentum Traditional FAQs

Get answers to some frequently asked questions related to older Momentum policies, Sage, LifeGro, Southern Life, Odyssey, and others that we administer.

When can I access the funds on my retirement annuity?

The Income Tax Act only allows access to retirement annuity fund benefits if you:

Are 55 years or older.
Are medically disabled.
Have been a non-resident for at least 3 consecutive years on or after 1 March 2021.
Have left the country on expiry of your visa or work permit

Find out more in the 2022 Retail Funds Trustee Newsletter.

Can I access my retirement benefits before I retire?

If you are a member of a preservation fund you are allowed to make one withdrawal from your benefit before retirement, if the benefit that was transferred into the preservation fund was a benefit that you became entitled to before you reached the normal retirement age in the transferring fund.

If you are a member of a retirement annuity fund, you are only allowed access to your benefit before retirement if the total benefit in the fund is less than the prescribed minimum of R15 000 (the value of combined retirement annuities on different platforms, in the same registered fund).

What are my options for early retirement at age 55?

When you reach the age of 55, you may access your retirement benefit.

A member of the Momentum Retirement Annuity Fund and the Momentum Pension Preservation Fund may only take one third of their retirement benefit in a lump sum; the rest of the benefit must be used to buy an annuity (a pension). If, however, the total benefit in the Fund is R247 500 or less, the member can take the whole benefit in a lump sum.

A member of the Momentum Provident Preservation Fund may take their total retirement benefit as a lump sum if the benefit transferred into this fund was transferred before 1 March 2021. If the benefit was transferred after 1 March 2021, the same rules as those applying on a pension preservation fund will apply. The member can still use any portion of the retirement benefit to buy an annuity.

Can I increase my premium on my Traditional policy?

The FSCA implemented Phase 1 of the Retail Distribution Review (RDR) legislation that regulates commission on positive alterations on all pre-2009 commission dispensation savings policies. This legislation is effective 1 January 2018.

Due to the above implementation, the following alterations are not allowed on the Traditional platform:

Term extension
Premium increase
Cover increase
Added benefits

Can I continue with my policy after the maturity or end date?

After maturity, we will continue investing your policy albeit in a more conservative portfolio to ensure your investment doesn’t reduce significantly. You can contact us to change your investment if you wish or consider other new business solutions we offer.

Momentum Traditional Resources

Forms

Download our forms to update your details or access your Momentum Traditional funds.

Cash withdrawal from a preservation fund form Debit order form Personal information form Retirement annuity full withdrawal form Retirement instruction form