Momentum Retirement Administrators

01/2018

Put your retirement fund and its members on the path to financial wellness today.

We believe that retirement fund administration is far more than simply collecting contributions and paying benefits.

MRA’s holistic approach to retirement fund administration places the member at the centre of all decisions, innovations and processes. Our people work tirelessly to support the members of the retirement funds we administer, to move towards financial wellness.

We take time to understand each retirement fund’s specific needs and goals, and how we can support your members on their financial wellness journey. Armed with these insights, we will tailor our delivery around meeting these needs and surpassing your expectations.

Enhancing value for employers

Employers are key retirement fund stakeholders. Our value proposition for retirement funds includes features that enhance the financial and physical health of members, to improve employee productivity. In this way, our solutions unlock additional value for employers and also support their financial wellness journey as a business.

How members benefit

While fund administration typically consists of many different processes and elements, service delivery and member engagement is always on a personalised basis. Your members will benefit significantly from the different elements of our value proposition, which includes:

• Highly efficient and cost-effective in-house administration services, powered by our proprietary technology which is tailored around the South African regulatory environment and retirement fund members.

• Seamless delivery and service excellence.• Our client-centric approach which respects the uniqueness of

each fund and tailors delivery to address a fund’s specific needs, circumstances and expectations.

• Our extensive experience in retirement fund administration, specialist knowledge of the South African retirement fund industry and strong relationships with employers in the private and public sectors.

• Access to innovative value-adding services such as Multiply and Hello Doctor, which incentivise and empower members to improve their physical and financial wellness.

• Highly personalised communication and engagement with members, which adds real value to each member’s individual journey towards financial wellness.

Nationwide footprint

MRA employs approximately 240 staff and has two operational processing offices in Johannesburg and Cape Town. In addition, there are 8 regional client services centres conveniently located throughout the country.

Being a retirement fund trustee is not for the faint-hearted. You work hard to ensure your retirement fund members have sufficient savings for a comfortable retirement. Plus, you need to make sure members have adequate death or disability cover if they die or become disabled. This is a challenging task, particularly in the current

economic climate and dynamic regulatory environment.

The current low levels of benefit preservation when

changing jobs and people living longer add to this challenge.

Momentum Retirement Administrators (MRA), a division

of the MMI Group of companies, is perfectly positioned to

be your partner to meet these challenges in an efficient and

cost-effective way.

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Why Momentum Retirement Administrators?

Our services: Contribution management

Various systems and processes ensure the way we manage contributions comply with Section 13A of the Pension Funds Act. We can receive data about contributions in any format – through email, FTP or on our portal.

Claim payments

In addition to traditional claims payment submission processes, our online forms automatically check that all relevant data is included before they are submitted. This saves time and ensures accuracy and the forms can be customised for each fund.

Where employers are linked and registered to the portals the claims can be submitted to the portal and all supporting docs uploaded to the portal.

Member data management

Tools such as the online employer portal help to make member data management more accurate and more efficient and assist with claims processing.

Insured benefit management

We pay premiums to Momentum or other insurance companies for the insurance benefits. We allocate the insurance benefits to members and manage the claims process.

Unclaimed benefits

We have the ability to reclassify members, pay taxes and work with tracing agents to find members.

Member communication

We provide benefit statements, fund guidebooks, newsletters and educational materials.

Member transactions

We offer funds the option for members to transact online, using a portal or an application for smartphones, with SMS notifications.

Smart exits solution

Momentum’s award-winning smart exits solution is the first online process of its kind that guides retirement fund members to make better financial decisions. Smart exits saves members time and enhance their financial wellness by helping them make informed decisions when changing jobs. The solution plays a key role in reducing the temptation of taking retirement savings in cash rather than preserving them. Smart exits also reduce the administration burden at the time of withdrawing or transferring retirement benefits, which is typically time-consuming and paper-intensive.

Smart retirement solution

This is a tool that helps members understand what type of pensions will be available when they retire. Please don’t be alarmed, members will not be asked to buy anything or transfer any money. Members just need to spend some time going through the tool to understand the types of pensions and which one could be the most suitable for them. The tool provides members with the knowledge to feel comfortable to make the right financial decision when they retire.

As a stand-alone retirement fund, you are free to choose the partners you believe will add the greatest value to your members and the fund.

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Highly efficient, cost-effective service delivery

High levels of automated processing inject efficiency into our services and enable competitive pricing. This, along with economies of scale, allows us to offer your fund competitive fees, which include the following services:

• Administration services;

• All switches (life stage and online member switching);

• Investment accounting services;

• Daily unitisation;

• Integrated fund accounting; and

• Reporting services (including statutory reporting).

Lower administration costs mean more money is available to go towards the members’ retirement savings. Despite high-levels of automation in the background to fuel efficiency, our personal human touch is always evident when interacting with members, trustees, employers, payroll, etc.

High levels of flexibility

We offer high levels of flexibility in member investment options, and can implement pooled investment arrangements, life stage models and member investment choice. There is also a high level of flexibility for retirement benefits, access to insurance benefits, contribution rates, expense payments and reporting.

The application allows for multiple lifestyle products with different rules within the same fund. The benchmark system allows for various reporting requirements ranging from complex actuarial, operational and activity as well as detailed audit trails. These reports can be exported in various formats which allows for them to be incorporated into a range of presentation layers.

Market-leading technology

Over the years, we have invested heavily in developing a leading technology platform that is regularly and independently reviewed and evaluated through the ISAE 3402 Type II audit. We designed and built a system that aligns fully to the South African regulatory landscape and is tailored around the needs of the local retirement fund industry and its membership.

Outcome-based investing

Outcome-based investing (OBI) is about putting your retirement fund members and their goals at the centre of the investment process. Momentum offers a leading range of outcome-based investing solutions, which are not limited to a single benchmark but instead focus on consistently maximising the probability of achieving your members’ retirement goals. Goals are analysed in terms of their return, risk tolerance and the time frame needed to achieve them. Momentum Investment portfolios are flexible, adaptable and diversified. OBI maintains the focus on meeting your members’ future needs by ensuring that their investment grows in line with inflation and protecting them from uncertainty.

Insurance benefits

Everyone needs financial support at crucial times, such as the distress that accompanies death, disability or critical illness. Give your members the peace-of-mind that reliable insurance benefit solutions have them covered in these times of critical need. Our proven group insurance solutions and administration allows retirement funds to tailor the most appropriate benefit package for their members. We can offer you a holistic value proposition with even greater cost savings if you integrate your group insurance solutions, retirement fund administration and investment solutions through us.

Multiply

Multiply is a wellness and rewards programme that helps members make the right choices so that they can live a better, healthier life, and also gives them the money to help them afford it.

You can decide to offer Multiply Starter to your retirement fund members. This will allow them to enjoy great rewards from some of our partners like Dis-Chem, Edcon, NuMetro, Intercape and takealot.com.

To experience the real value of Multiply, members can upgrade to Multiply Provider or Multiply Premier at an additional monthly fee where they will enjoy even greater rewards from over 60 partners.

Multiply Provider offers great value for the member and the whole family. Members can use Multiply Provider to get more money by doing the things that matter to them - things they already do every day. Multiply Provider helps them make the right choices so that they can be healthier, safer and more on top of their finances.

Multiply Premier looks at what really matters to people. And that is being healthier, safer and on top of their finances. Multiply Premier makes it simple to achieve these needs in three steps:

Speak to your financial adviser about how we can put your retirement fund and its members on the path to financial wellness, or visit our website: https://mra.momentum.co.za

Know – if the member knows their starting point they can start their path to wellnessTrack – members track their progress as they reach each of their goalsScore – members improve their lifestyle and get more real rewards

Hello Doctor

Hello Doctor is a mobile phone-based service that provides members with access to doctors, anytime, anywhere.

In a nutshell this is what Hello Doctor provides:

Cost savingOur telephonic consultation has a resolution rate of 70%, saving patients time and money without needing to see a doctor face-to-face.

AbsenteeismWith Hello Doctor being one phone call away, employees can get medical advice and resolution almost immediately.

PresenteeismA doctor’s advice and reassurance is often all that people want to give them that much needed peace of mind.

Health managementHello Doctor’s regular heath education equips employees to pay attention to their health and to make better decisions about their lifestyle choices.

You can decide to offer Hello Doctor to your retirement fund members.

Retirement fund administration is what we do, and we do it very well. However, our holistic approach delivers a solution that goes beyond traditional, transaction-focused retirement fund administration. Drawing on capabilities across the MMI Group of companies, our innovative, integrated solution will enable your retirement fund members to move towards financial wellness, before and during retirement.

“Someone is sitting in the shade today because someone planted a tree a long time ago.“Warren Buffett

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DisclaimerCopyright reserved © MMI 2018 - Momentum is a division of MMI Group Limited (registration number: 1904/002186/06), a wholly owned subsidiary of MMI Holdings Limited. The document is for illustrative purposes only and does not constitute tax, legal, accounting or financial advice. The user relies on the contents at his sole discretion. A person should not act in terms of the information in this document without discussing it with an authorised financial adviser and should seek personal, legal and tax advice. MMI Holdings Limited, its subsidiaries, including MMI Group Limited, shall not be liable for any loss, damage (whether direct or consequential) or expenses of any nature which may be suffered as a result of or which may be attributable, directly or indirectly, to the use or reliance upon this publication. Terms & Conditions apply.

Head office10th Floor, Tower 2102 Rivonia Road

Sandton

Postal addressMomentum Retirement AdministratorsPrivate Bag x41Braamfontein2017