Old Mutual Rewards is a free programme available to South Africans, offering points for taking steps towards better money management. Anyone can join, whether they’re an Old Mutual customer or not. By using tools like budget planners, financial quizzes, and assessments, users earn points that can be redeemed for airtime, electricity, vouchers, or even savings and investment contributions. The programme supports everyday financial goals without requiring any upfront spend.
Key Takeaways
- Earn Rewards by Improving Financial Habits: Old Mutual Rewards gives South Africans points for taking financially responsible actions such as completing assessments, using budgeting tools, and referring others.
- Redeem Points for Everyday Needs and Services: Points can be redeemed for airtime, data, shopping vouchers, travel bookings, donations to charities, or contributions to Old Mutual financial products.
- Tiered Benefits and Exclusive Partner Deals: Members enjoy more benefits as they progress through five tiers, with additional perks like discounted cinema tickets, fuel vouchers, and access to tools like TaxTim for tax filing assistance.
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What Is Old Mutual Rewards?
Old Mutual Rewards is a free programme that encourages South Africans to improve their financial habits by offering points for responsible financial actions. These points can be redeemed for various rewards, such as airtime, data, retail vouchers, or contributions to Old Mutual financial products.
Unlike typical loyalty programmes that reward spending, Old Mutual Rewards focuses on promoting good financial behaviour. Members earn points by engaging with financial tools, completing assessments, and using educational resources. This approach aims to support individuals in making informed financial decisions without the need for additional spending.
The programme is open to all South African residents aged 18 and above, regardless of whether they are existing Old Mutual customers. This inclusivity allows a broader audience to benefit from the rewards system and access resources to enhance their financial well-being.
Earning Points with Old Mutual Rewards
Old Mutual Rewards provides South Africans with several ways to earn points simply by engaging in financially responsible activities, using selected Old Mutual products, and referring others. The programme is designed to reward positive financial behaviour and encourage smarter money choices. Here’s how points can be earned across three main categories:
Financial Activities
Members can accumulate points by taking part in free tools and educational resources aimed at improving financial awareness and planning:
- Completing Financial Assessments and Surveys: Points are awarded for completing online assessments that evaluate your financial habits, goals, and preparedness. These surveys help users better understand their financial position while earning points at the same time.
- Participating in MoneyVersity Courses: MoneyVersity is Old Mutual’s free online learning platform. By completing these interactive financial education modules, users earn points and gain practical knowledge on topics such as budgeting, insurance, retirement, and investments.
- Requesting a Free Credit Report: Members can access their credit report at no cost through Old Mutual Rewards. By doing so, not only do they gain insight into their credit status, but they are also rewarded with points.
Product Engagement
Members who make use of certain Old Mutual products can grow their points balance through active participation:
- Earning Points from Old Mutual Product Premiums: Individuals who hold qualifying Old Mutual policies—such as insurance or investment products—can earn points based on their monthly premium contributions.
- Using the Old Mutual Money Account: When transacting with the Old Mutual Money Account, members earn points for qualifying activity, including card purchases and account management. This incentivises consistent use of the account for everyday banking.
Referral Programme
Members are encouraged to refer friends and family to join Old Mutual Rewards. For every successful referral, points are awarded once the referred person completes registration and starts engaging with the programme.
Points Earning Table
Below is a breakdown of how many points you can earn for specific activities within the Old Mutual Rewards programme:
10 points = R1
| Activity | Description | Points Earned |
|---|---|---|
| Refer a friend | Invite friends or family to join Old Mutual Rewards. | 100 |
| Speak to an adviser | Request a consultation with a financial adviser. | 100 |
| Complete MoneyVersity courses | Engage in educational financial courses through MoneyVersity. | 50 |
| Use financial tools and calculators | Utilise budgeting tools and calculators to plan smarter. | 20 |
| Complete financial assessments | Complete assessments to better understand your financial status. | 20 |
| Request a credit report | Access your free credit report and stay on top of your credit health. | 100 |
| Surveys | Complete brief surveys and earn points for your insights. | 50 |
Understanding the Tier System in Old Mutual Rewards
Old Mutual Rewards features a five-tier system designed to acknowledge and reward members based on the breadth of their financial engagement with Old Mutual. Progressing through these tiers unlocks enhanced benefits and greater earning potential.
The Five-Tier Structure
Your tier status is determined by the number of distinct product categories you hold with Old Mutual. Each category represents a different financial need, such as savings, insurance, or lending. The tiers are structured as follows:
- Tier 1: 0–1 product category
- Tier 2: 2–3 product categories
- Tier 3: 4 product categories
- Tier 4: 5 product categories
- Tier 5: 6 or more product categories
Alternatively, members with investments valued at R25 million or more qualify for Tier 4, and those with R50 million or more qualify for Tier 5, regardless of the number of product categories held.
Criteria for Ascending Tiers
To move up a tier, you need to acquire Old Mutual products from different categories. Holding multiple products within the same category does not contribute to tier progression. The ten recognised product categories are:
- Transactional (e.g., Old Mutual Money Account)
- Lending (e.g., Personal or Home Loans)
- Funeral Cover
- Life Cover
- Disability Cover
- Severe or Critical Illness Cover
- Savings & Investments
- Retirement Savings
- Income (e.g., Annuities)
- Short-Term Insurance
Each product must be active and in good standing to count towards your tier status.
Redeeming Points with Old Mutual Rewards
Old Mutual Rewards members have several practical ways to redeem their accumulated points, allowing them to extract real value from their financial engagement and behaviour. These redemption options cater to a variety of everyday needs, from shopping and mobile connectivity to investing and giving back.
Shopping Vouchers
One of the most popular ways to use points is by converting them into shopping vouchers. Members can redeem points for vouchers that can be spent at well-known South African retailers such as Checkers, Woolworths, and Takealot. These vouchers can be used for groceries, clothing, electronics, and other household items, making them a convenient option for both regular shopping and occasional purchases.
Airtime and Data
Members who prefer to use their points for mobile services can purchase airtime and data bundles directly through the Old Mutual Rewards platform. This feature is especially useful for those looking to stay connected without having to dip into their bank account, with points covering top-ups across major mobile networks.
Donations
Old Mutual Rewards also allows members to donate their points to a range of charitable organisations. This option gives members the chance to support causes that matter to them, such as education, healthcare, or community upliftment, by redirecting their points to registered charities partnered with the programme.
Investments
Points can be reinvested into selected Old Mutual financial products, providing members with a way to boost their long-term savings or investments. This redemption method supports a more structured financial future and allows members to use their points as a form of contribution towards qualifying investment or insurance products.
Travel
Members looking to use their points for travel can book domestic and international flights, as well as accommodation, through the Old Mutual Rewards travel portal. This makes it possible to offset part of the travel costs using accumulated points, helping members stretch their budget when planning holidays or business trips.
Exclusive Partnerships and Offers
Old Mutual Rewards gives members access to a variety of exclusive deals through its partnerships with well-known South African brands. These partnerships are designed to help members stretch their money further by turning earned points into real savings on everyday purchases and services
Fuel Savings with Total
Through its partnership with Total, Old Mutual Rewards allows members to save on fuel costs across South Africa. Members can convert their points into fuel vouchers, which can be redeemed at participating Total service stations. This benefit offers practical value, especially for those who commute regularly or travel long distances, as it helps reduce fuel expenses simply by participating in the rewards programme.
Entertainment with Ster-Kinekor and Nu Metro
For members who enjoy going to the cinema, Old Mutual Rewards offers discounted movie experiences through Ster-Kinekor and Nu Metro. Members can use their points to access movie tickets at a reduced rate, making it easier to enjoy the latest blockbusters with friends or family. This benefit makes entertainment more affordable and accessible without having to pay the full ticket price out of pocket.
Tax Return Assistance with TaxTim
Old Mutual Rewards also includes a partnership with TaxTim, an online tax assistant that helps individuals complete and file their tax returns with ease. Members can use their points to pay for TaxTim’s services, gaining support from a SARS-recognised platform that simplifies the filing process. This partnership is particularly useful for individuals who are unsure about how to file correctly or who want to avoid errors that could delay their refunds.
Advantages of Using Old Mutual Rewards
- Encouragement of Better Financial Habits: Old Mutual Rewards motivates members to improve their financial literacy by offering points for activities such as completing financial assessments, using budgeting tools, and participating in educational quizzes. This approach promotes responsible financial behaviour and helps individuals develop better money management skills.
- Tangible Benefits for Engaging with Financial Tools: Members receive direct rewards for their engagement, including discounts on flights, access to legal assistance, and contributions to savings or investment products. These tangible benefits provide immediate value and reinforce the importance of maintaining good financial practices.
- Accessibility for All Income Levels: The programme is open to all South African residents aged 18 and above, regardless of their income or whether they are existing Old Mutual customers. This inclusivity ensures that a broad audience can benefit from the resources and rewards offered, supporting financial growth across diverse communities.
- No Cost to Participate: Joining Old Mutual Rewards is completely free, with no membership fees or hidden charges. This allows individuals to access valuable financial tools and earn rewards without any financial barriers, making it an attractive option for those looking to improve their financial situation.
Tips to Maximise Your Old Mutual Rewards
Old Mutual Rewards offers several ways for South Africans to earn points by engaging in activities that promote financial well-being. By strategically participating in these activities, members can accumulate points to redeem for various rewards, enhancing their financial journey with Old Mutual.
Engage Regularly with Financial Tools and Quizzes
Consistent use of Old Mutual’s financial tools and quizzes can significantly boost your rewards points. These resources are designed to enhance your financial literacy and decision-making skills. By regularly engaging with these tools, you not only improve your financial knowledge but also accumulate points that can be redeemed for various rewards.
Set Monthly Reminders for Financial Check-Ins
Establishing a routine for monthly financial check-ins can help you stay on top of your financial goals and maximise your rewards. By setting reminders to review your financial status, complete assessments, and participate in available quizzes, you ensure continuous engagement with the programme. This consistent participation leads to a steady accumulation of points, bringing you closer to your desired rewards.
Stay Alert for Seasonal and Promotional Opportunities
Old Mutual Rewards occasionally offers seasonal promotions and special opportunities to earn extra points. By staying informed about these promotions through the Old Mutual website or communications, you can take advantage of these limited-time offers. Participating in these promotions can significantly boost your points balance, allowing you to reach your rewards goals faster.
Conclusion
Old Mutual Rewards offers a practical and inclusive way for South Africans to improve their financial habits while earning valuable rewards. The programme requires no upfront spend and is open to anyone aged 18 or older, regardless of whether they hold an Old Mutual product. With points earned through responsible financial actions, product engagement, and referrals, members can enjoy a wide range of benefits—from shopping vouchers and airtime to investment contributions and travel discounts. The tier system and exclusive partner offers further enhance the value of participation, making Old Mutual Rewards a useful tool for supporting everyday financial goals.
Frequently Asked Questions
Who can join Old Mutual Rewards?
Any South African resident aged 18 or older can join, even if they are not an existing Old Mutual customer.
How do I earn points with Old Mutual Rewards?
Points can be earned by completing financial assessments, using budgeting tools, participating in MoneyVersity courses, engaging with Old Mutual products, and referring others to join the programme.
What can I use my points for?
Points can be redeemed for shopping vouchers, airtime, data, donations to charities, travel bookings, and contributions to qualifying Old Mutual products such as savings or insurance.
How does the tier system work?
The five-tier system is based on how many different product categories you hold with Old Mutual. Higher tiers offer more benefits and faster point accumulation.
Is there a cost to participate in Old Mutual Rewards?
No, joining and participating in Old Mutual Rewards is completely free. There are no membership fees or hidden charges.
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