Understanding the Old Mutual Actuarial Science Bursary Programme
The Old Mutual Actuarial Science Bursary Programme offers a significant opportunity for bright young South Africans aiming for a career in actuarial science. This bursary provides comprehensive support, covering academic expenses and offering a pathway to employment with Old Mutual upon graduation. It’s designed for students who are committed to the actuarial profession and wish to contribute to the company’s future.
Eligibility Requirements
To be considered for the Old Mutual Actuarial Science Bursary Programme, applicants must meet specific academic and personal criteria. These requirements ensure that candidates have the foundational knowledge and dedication needed for a demanding field like actuarial science.
Academic Standing
Applicants need to demonstrate strong academic performance, particularly in mathematics. A minimum of 80% in Mathematics is required. English proficiency is also important, with a minimum of 60% for Home Language or 70% for First Additional Language. Furthermore, all other subjects must have a minimum score of 70%.
Citizenship and University Enrollment
The bursary is exclusively for South African citizens. Applicants must either be currently studying or have applied to one of the following universities:
- North-West University
- Stellenbosch University
- University of Cape Town
- University of Pretoria
- University of the Free-State
- University of the Witwatersrand
- University of Johannesburg
Commitment to the Profession
A key requirement is a firm commitment to qualifying as an actuary. This includes a willingness to work for Old Mutual for a specified period after graduation, ensuring a return on the investment made by the company.
Bursary Benefits
The Old Mutual Actuarial Science Bursary Programme offers substantial benefits designed to support students throughout their academic journey and beyond. This holistic approach aims to reduce financial burdens and provide valuable career development opportunities.
Financial Support
The bursary covers essential educational costs, including tuition fees, study materials, and accommodation in university residences. It also provides for meals and return flights home if students are studying outside their hometown. Students who maintain excellent academic grades may receive additional incentives.
Career Development and Employment
Beyond financial aid, the programme offers opportunities for personal development and networking. Successful applicants will gain valuable experience through vacation work at Old Mutual. Crucially, the bursary guarantees employment with Old Mutual upon successful graduation, providing a clear and secure career path.
Application Process
Applying for the Old Mutual Actuarial Science Bursary Programme involves several steps, requiring careful attention to detail and timely submission of all necessary documents. The process is designed to identify candidates with the strongest potential and commitment.
Online Application and Assessments
Applications are submitted online through the Old Mutual careers portal. Applicants will need to complete the online application, which includes a gamified assessment. A one-page CV and a completed bursary motivation form are also required.
Required Documentation
In addition to the CV and motivation form, applicants must submit supporting documents. These include school reports for Grade 10 to 12, a Matric Certificate (if applicable), and proof of university acceptance or conditional acceptance. Current university students need to provide a full academic transcript. A copy of the applicant’s ID is also mandatory.
Selection Stages
Shortlisted candidates will be invited to complete psychometric assessments. Following this, the top 30 finalists will participate in a virtual interview. A provisional offer of the bursary will be extended after the interview, which will be confirmed once final matric results and proof of university acceptance for an Actuarial Science or Accounting Science program are received.
Important Considerations
Prospective applicants should be aware of additional requirements and preferences. These factors can influence the selection process and ensure that the bursary reaches deserving candidates.
Parental Consent and Preferences
Parental or guardian consent is required for applicants under 18 years old. Old Mutual gives preference to candidates from under-represented designated groups, including those with disabilities, and those from previously disadvantaged backgrounds or who demonstrate financial need.
Incomplete Applications
It is essential to submit a complete application with all required documentation. Incomplete applications will not be considered, so applicants should double-check all submissions before the deadline. The application deadline is June 30, 2026.
Frequently Asked Questions
What are the main academic requirements for the Old Mutual Actuarial Science Bursary?
You need at least 80% in Mathematics, 60% in English Home Language or 70% in First Additional Language, and 70% in all other subjects.
Which universities are recognized for this bursary program?
The bursary is for students attending North-West University, Stellenbosch University, University of Cape Town, University of Pretoria, University of the Free-State, University of the Witwatersrand, or University of Johannesburg.
What financial support does the bursary provide?
It covers tuition fees, study materials, accommodation, meals, and travel costs if studying away from home.
What documentation is needed for the application?
You’ll need a CV, motivation form, school reports (Grades 10-12), Matric Certificate (if applicable), university acceptance proof, academic transcripts (if applicable), and your ID.
