Old Mutual Actuarial Bursary: Your Gateway to a Career in Actuarial Science
Old Mutual Actuarial Bursary 2025: Your Gateway to a Career in Actuarial Science
About Old Mutual
Old Mutual is one of South Africa’s leading financial services providers with a rich history dating back over 175 years. The company offers a wide range of financial solutions, including insurance, investment, savings, and retirement planning. As part of its commitment to nurturing talent and developing the next generation of financial experts, Old Mutual offers several bursaries to support deserving students. Among these is the prestigious Old Mutual Actuarial Bursary, aimed at empowering aspiring actuaries to pursue their studies and build successful careers in actuarial science.
Overview of the Old Mutual Actuarial Bursary
The Old Mutual Actuarial Bursary is designed to support top-performing students who are passionate about mathematics, statistics, and the financial industry. Actuaries are critical to the success of financial institutions as they use mathematical and statistical methods to assess risk and make informed financial decisions. This bursary is intended for students who wish to pursue a career as a professional actuary, providing them with the financial assistance and professional development opportunities needed to excel in this challenging and rewarding field.
Fields of Study Covered
The Old Mutual Actuarial Bursary is available to students who are pursuing or planning to pursue a degree in Actuarial Science. This bursary is open to students at various stages of their academic journey, from those just entering university to those already enrolled in an Actuarial Science program. The bursary covers studies at any accredited South African university offering a recognized Actuarial Science program.
Bursary Coverage
The Old Mutual Actuarial Bursary offers comprehensive financial support to cover the following expenses:
- Tuition Fees: Full payment of tuition fees for the duration of the Actuarial Science degree at a recognized South African university.
- Accommodation and Meals: A stipend to cover accommodation and meals, ensuring that students can focus entirely on their academic responsibilities.
- Books and Study Materials: Financial assistance for purchasing textbooks and other essential study materials.
- Living Allowance: A monthly allowance to help cover other living expenses.
In addition to financial support, bursary recipients will benefit from:
- Mentorship and Support: Scholars will be paired with experienced actuaries from Old Mutual, who will provide guidance, support, and insights into the actuarial profession.
- Vacation Work: Opportunities for practical work experience at Old Mutual during university holidays, where students can apply their academic knowledge in a real-world environment.
- Professional Development: Access to workshops, seminars, and networking events designed to enhance employability and professional skills.
Eligibility Criteria
To be eligible for the Old Mutual Actuarial Bursary, applicants must meet the following requirements:
- South African Citizenship: Applicants must be South African citizens.
- Strong Academic Record: Applicants must have an excellent academic track record, particularly in mathematics and science. A minimum of 80% in Mathematics and 70% in Physical Science is required.
- University Admission: Applicants must be enrolled in or accepted to study Actuarial Science at a recognized South African university.
- Financial Need: Preference is given to students who demonstrate financial need, although academic excellence remains a key selection criterion.
- Passion for Actuarial Science: Applicants must show a strong interest in pursuing a career as an actuary, including a willingness to commit to the rigorous demands of the profession.
How to Apply
To apply for the Old Mutual Actuarial Bursary, follow these steps:
- Complete the Online Application: Visit the Old Mutual website and navigate to the bursaries section to find the application form for the Actuarial Bursary. Fill out the form with accurate and detailed information.
- Prepare Supporting Documents: Gather and upload the necessary documents as part of your application, including:
- A certified copy of your South African ID
- Certified copies of your most recent academic results, including Grade 12 results or university transcripts
- Proof of acceptance or enrollment in an Actuarial Science program at a recognized university
- A motivational letter (500 words) explaining your interest in Actuarial Science, your career goals, and how the bursary will help you achieve them
- Proof of financial need, such as income statements or affidavits
- A reference letter from a teacher, lecturer, or mentor supporting your application
- Submit Your Application: Ensure that your completed application form and all supporting documents are submitted online before the closing date.
Selection Process
The selection process for the Old Mutual Actuarial Bursary is highly competitive and thorough. Applications will be reviewed based on academic performance, financial need, and the applicant’s commitment to a career in Actuarial Science. Shortlisted candidates may be invited for an interview or assessment as part of the final selection process.
Successful applicants will be notified in writing and will be required to sign a bursary agreement outlining the terms and conditions of the award. Recipients of the bursary are expected to maintain high academic standards and participate in any required work experience opportunities provided by Old Mutual.
Application Deadline
The closing date for applications for the Old Mutual Actuarial Bursary is 30 September 2024. Late applications will not be considered, so it is crucial to submit your application and all supporting documents before the deadline.
Contact Information
For any queries or additional information regarding the Old Mutual Actuarial Bursary, you can contact Old Mutual through the following channels:
- Website: Old Mutual Bursaries
- Email: bursaries@oldmutual.com
- Phone: 021 509 9111
- Postal Address: Old Mutual, Mutualpark, Jan Smuts Drive, Pinelands, 7405, Cape Town, South Africa
Additional Opportunities
Old Mutual offers a variety of bursaries and scholarships in addition to the Actuarial Bursary. Applicants who are not selected for the Actuarial Bursary are encouraged to explore these other opportunities on the Old Mutual website.
Conclusion
The Old Mutual Actuarial Bursary is an excellent opportunity for aspiring actuaries to receive financial support and professional development while pursuing their studies. By investing in the education of talented students, Old Mutual is helping to build a future generation of skilled professionals who will play a vital role in the financial sector. If you meet the eligibility criteria and are dedicated to a career in Actuarial Science, the Old Mutual Actuarial Bursary could be your pathway to success in this demanding and rewarding field.
