With the current economic environment of high fuel prices and increasing interest rates weighing heavily on consumers, Old Mutual Rewards can help South Africans to save money this festive season.
According to Dr. Nceba Hene Head of Marketing and Brand at Old Mutual Rewards, December is a time of road trips, enjoyment, and much needed down-time with family and friends which often means you can make use of your loyalty and rewards points. With the right budgeting mindset and Old Mutual Rewards you can stretch your budget even further. In fact, you may even be able to save some money.
Those planning to travel for the holidays can take full advantage of the 50% more value on fuel. Between 1 December 2022 and 3 January 2023, motorists can beat the fuel price increases by redeeming their Old Mutual Rewards points for TotalEnergies fuel vouchers to get 50% Extra Value on every redemption. Meaning if you redeem 2000 points, you will now get a R300 voucher affording you R100 more fuel,” says Hene.
Members also stand a chance to WIN a R10 000 Shoprite/Checkers voucher when spending their Old Mutual Rewards points at Shoprite/Checkers between 1 December 2022 and 15 January 2023. New joiners during this period will get automatic entry just for joining the programme.
Since the inception of the Rewards programme, the number of members has skyrocketed to 1.8 million, who cumulatively have earned almost 5 billion points equating to approximately R500 million in value, he adds.
Old Mutual Rewards is a free rewards programme that enables registered members to earn points for participating in various activities including completing financial assessments, using online calculators like the education savings or debt repayment calculators, and completing education modules on Moneyversity.
Members can spend their points in numerous ways such as converting and reinvesting them into a qualifying Old Mutual product, buying vouchers to pay for day-to-day essentials such as fuel, groceries, airtime, data, travel, and entertainment at Rewards partners, or donating points to charities.
Exciting value adds for 2023
To provide members with even more value, Old Mutual Rewards is ready to help South African households kick off 2023 with exciting new benefits.
When spending Rewards points, members will receive 5% more value with every purchase of health and beauty products at Dis-Chem; movie lovers will get 50% more value at Nu Metro and Ster-Kinekor.
Members can also look forward to spending their points on cycling and golfing equipment from Cycle Lab and Pro Shop. Meanwhile, Edgars, Legit, Babycity, BabiesRUs, and ToysRUs also join the Rewards partner family, which includes over 30 partners.
Health, fitness and wealth to the fore
Members with qualifying Old Mutual Protect Cover solutions can now earn up to 500% of their monthly premium in Old Mutual Rewards points for maintaining a healthy lifestyle and being physically fit. This 500% comprises of members earning up to 35% of their qualifying Old Mutual Personal Cover premium in rewards points; up to 250% of their qualifying Old Mutual Protect Cover premium in rewards points for completing a qualifying endurance event every six months; and up to 215% of their Old Mutual Protect Cover premium in rewards points if they meet the health requirements. Tier 5 members, for example, can earn 500% of their R1000 premium which is 5 000 points.
In addition, as of 01 January 2023, members will earn Old Mutual Rewards points based on the market value of their investments each month instead of earning points only when they make new contributions to their investments.
01 January brings additional changes that include, new criteria that members with Old Mutual Personal Loan and Debt Consolidation loans will have to attain in order for their loan to contribute towards their Old Mutual Rewards tier. Furthermore, members with Old Mutual Money Accounts will need to fulfil new criteria to be eligible to earn points on their Old Mutual Money Account.
Hene concludes, “Saving on expenses is more important than ever as the South African household budget comes under increasing pressure from rising costs such as fuel and energy. As a responsible business, we believe that rewarding good financial behaviour is key to improving our nation’s savings culture. This is why our Rewards offering provides points for using 22seven. 22seven is a free digital service that helps you budget, eliminate overspending and make the most of every rand from the bank accounts you’ve linked to the app, and you can earn 300 easy Old Mutual Rewards points for linking your accounts. Helping our customers to improve their finances has been part of our DNA for over 177 years.”
To find out more about how to earn points and for a full list of where these points can be used, visit www.oldmutual.co.za/rewards .
Old Mutual Rewards (Pty) Ltd. is a company in the Old Mutual Group. Terms, Conditions and Programme Rules Apply. Old Mutual Life Assurance Company (SA) Limited is a licensed FSP and Life insurer. Old Mutual Wealth is an elite service offering brought to you by several licensed FSP’s in the Old Mutual Group. The Old Mutual Money Account is an offering by Old Mutual Transaction Services (Pty) Ltd (Reg No. 2012/225985/07), in association with Bidvest Bank Ltd (reg No. 2000/006478/06), a licensed FSP NCRCP17