Momentum Funds at work

Momentum’s FundsAtWork is an umbrella fund solution that combines both a pension fund and a provident fund under one umbrella. The structure is designed to simplify the administration and management of employee benefits for companies while delivering significant value to employees. With multiple options to cater to varying needs, FundsAtWork provides employees with retirement planning, savings, investments, and group insurance.

Key Components of Momentum FundsAtWork

Momentum FundsAtWork is built on three essential pillars to address the diverse needs of South African employees and employers:

  1. Investments and Savings for Retirement
    FundsAtWork provides retirement savings and investment solutions to help employees meet their financial goals for retirement. With a variety of investment portfolios to choose from, employees are more likely to reach their retirement targets, thanks to a well-structured and flexible investment framework. Additionally, FundsAtWork includes multiple annuity options to help employees sustain their lifestyle post-retirement.
  2. Group Insurance for Financial Security
    Group Insurance offers essential protection against unexpected life events. This coverage includes group life, funeral, and disability insurance, ensuring employees and their families have financial support during critical times. These benefits not only provide peace of mind but also foster a sense of security among employees, knowing their families are financially protected.
  3. Value-Adding Services for Holistic Support
    Momentum goes beyond the typical benefits by offering additional services. The Employee Assistance Programme provides support during traumatic life events, and the Housing Loan Guarantee helps employees secure financing for home purchases or renovations. Additionally, Hello Doctor offers free expert health advice over the phone, promoting health and wellness among employees.

FundsAtWork Product Options

FundsAtWork offers several product tiers to meet the varying needs of employers and employees:

  • FundsAtWork Core: A basic, cost-effective option offering essential retirement and insurance benefits, such as basic death, disability, critical illness, and funeral cover.
  • FundsAtWork Founder: A straightforward plan with limited investment and insurance flexibility, ideal for employers seeking basic employee benefits.
  • FundsAtWork Provider: A balanced option providing more investment flexibility and a broad range of insurance benefits, including FlexiCovers for members who need more comprehensive coverage.
  • FundsAtWork Entrepreneur: Tailored for companies with diverse needs, this option offers a wide selection of investment portfolios and comprehensive insurance benefits, maximizing flexibility for employees.

Why Choose Momentum FundsAtWork?

Momentum’s FundsAtWork solution is designed to provide businesses with flexible and cost-effective employee benefit plans, while supporting employees’ long-term financial well-being. Here’s what sets FundsAtWork apart:

  • Flexible Contribution and Investment Options: Employers can set contribution rates, and depending on the product tier, employees can adjust their investments and contributions.
  • Robust Support Resources: Momentum provides detailed resources, including signed forms, brochures, fund fact sheets, legal updates, and newsletters to keep both employers and employees informed and empowered.
  • Compliance and Transparency: FundsAtWork adheres to POPIA and PAIA regulations, ensuring the highest standard of privacy and transparency.

Getting Started with Momentum FundsAtWork

Starting with FundsAtWork is simple. Employers can select from the product options that best align with their company’s needs, and employees can take advantage of a tailored retirement and insurance solution that secures their future. For more details on the available product tiers and to access the essential resources, visit Momentum FundsAtWork.

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Complete Guide to NSFAS Online Loan Application for South African Students (2025)

If you are a South African student looking to pursue higher education but are facing financial difficulties, the National Student Financial Aid Scheme (NSFAS) is one of the most accessible funding options available. NSFAS provides financial aid in the form of bursaries and loans to qualifying students at public universities and TVET colleges in South Africa.

This guide will walk you through everything you need to know about the NSFAS loan application process, from eligibility requirements to application steps and frequently asked questions.

📌 What is NSFAS?

The National Student Financial Aid Scheme (NSFAS) is a government-funded financial aid scheme aimed at helping students from low- and middle-income households to access tertiary education without the burden of upfront fees.

NSFAS offers both bursaries and income-contingent loans:

  • Bursaries: For eligible students who meet academic and household income criteria (especially for TVET and university students).
  • Loans: For students who do not meet all bursary criteria or who are pursuing postgraduate qualifications not funded under bursary schemes.

✅ Who Qualifies for an NSFAS Loan?

To qualify for an NSFAS loan (especially for postgraduate students or programs not funded under the bursary system), you must:

  • Be a South African citizen.
  • Be financially needy, with a household income of less than R350,000 per year.
  • Have a valid South African ID.
  • Be enrolled or accepted to study at a public university or TVET college.
  • Not be funded through another bursary program that covers all expenses.
  • Maintain satisfactory academic progress (returning students).

📚 Courses Funded by NSFAS

NSFAS primarily funds undergraduate qualifications, but certain postgraduate programs (e.g., PGCE, postgraduate diplomas in education, and professional courses like LLB) may be considered under the NSFAS loan scheme, not bursaries.

If you’re studying:

  • Undergraduate degree or diploma: You are likely eligible for a full NSFAS bursary.
  • Postgraduate study: You may qualify for a loan, depending on the course and funding availability.

📄 Required Documents for NSFAS Application

When applying, make sure you have the following documents scanned and ready:

  1. Certified copy of your South African ID or Smart Card.
  2. Parent(s) or guardian(s) ID documents.
  3. Proof of income (latest payslips, UIF, or affidavit if unemployed).
  4. Consent Form signed by your parent(s)/guardian(s) to allow NSFAS to verify income.
  5. Proof of registration or acceptance at a public institution.
  6. Academic transcripts (for continuing or postgraduate students).

🖥️ How to Apply for an NSFAS Loan Online

Step-by-Step NSFAS Online Application Process (2025)

  1. Visit the NSFAS Website

    Go to: https://www.nsfas.org.za

  2. Create an Account

    • Click on “MyNSFAS” and register your profile.
    • You’ll need a valid email address and South African cellphone number.
    • Choose a strong password and verify your account via email or SMS.

  3. Login and Start the Application

    • After registration, log in to your MyNSFAS account.
    • Click on “Apply” to begin a new application.

  4. Fill in Your Personal Details

    • Input your ID number, name, surname, and other details exactly as they appear on your ID.
    • Provide household income information and living arrangements.

  5. Upload Required Documents

    • Upload all supporting documents in PDF or JPEG format.
    • Each document must be clear and under the size limit specified.

  6. Submit Your Application

    • Review your application for accuracy.
    • Click “Submit” and wait for a confirmation message.

  7. Track Your Application

    • Log in regularly to check your application status.
    • You will be notified via SMS and email at each stage of the process.

🗓️ Important NSFAS Dates (2025)

  • Application Opening Date: September 1, 2025
  • Application Deadline: January 31, 2026
  • Appeals Period: February 2026 (if rejected)
  • Disbursement: After registration and approval

Note: Dates are subject to change; always confirm on the official NSFAS website.

💸 What Does the NSFAS Loan Cover?

NSFAS funding typically includes:

  • Tuition fees
  • Registration fees
  • Accommodation (if living away from home)
  • Meals and transport
  • Learning materials (e.g., textbooks)

For loans, repayment is only required once you start working and earn above a threshold (around R30,000 annually, but subject to change).

🔄 NSFAS Loan Repayment

Repayments are:

  • Income-contingent – you only repay when you can afford to.
  • Administered by DHET (Department of Higher Education and Training).
  • Interest-bearing, but interest rates are low and favorable.

You can also apply for a partial loan conversion to a bursary if you perform well academically.

🔁 How to Appeal a Rejected NSFAS Application

If your application is rejected, you may submit an appeal via your MyNSFAS portal:

  1. Log into your MyNSFAS account.
  2. Click on “Track Funding Progress”.
  3. If rejected, click on “Submit Appeal”.
  4. Upload any missing or corrected documents.
  5. Provide a clear explanation or motivation.

📱 NSFAS Contact Information

📝 Final Tips Before Applying

  • Apply early to avoid system overload near the deadline.
  • Use your own email and cellphone number (do not use someone else’s).
  • Double-check that all your documents are certified and legible.
  • Keep a copy of your submission confirmation for reference.

By following this guide, you can confidently apply for NSFAS funding and move one step closer to achieving your academic and career dreams—without the burden of immediate financial pressure.

 

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