For the purposes of these Terms, the following definitions apply:

• PensionX refers to PensionX (Pty) Ltd, a licensed Financial Services Provider (FSP 53753), which facilitates access to Retirement Annuity products through employer arrangements.
• WhatsApp Chatbot refers to the automated messaging service used by PensionX to guide Employees through the onboarding process, collect personal information, and facilitate acceptance of Terms and Conditions.
• Retirement Annuity ("RA") refers to the retirement savings product issued and administered by Itransact in the name of an Employee.
• Itransact refers to the product provider and administrator of the Retirement Annuity offered through PensionX.
• Employer means a business or organisation that facilitates retirement savings for its Employees through PensionX. While both the Employer and the Employee may contribute to the Employee's Retirement Annuity, the Employer is responsible for ensuring that all contributions are paid to the Product Provider.
• Employee / Member refers to an individual employed by a participating Employer who has been onboarded into the PensionX retirement savings solution and has an active Retirement Annuity with Itransact.
• User refers collectively to Employers and Employees using or accessing PensionX services.
• Lump Sum Contribution means the total amount transferred by an Employer to Itransact on behalf of its participating Employees, which is then allocated to their individual RA accounts.
• Onboarding means the process through which Employees are signed up for a Retirement Annuity, including the collection of personal information and acceptance of applicable terms via the WhatsApp Chatbot or other digital platforms.
• Terms means these Terms and Conditions, including any amendments or updates.

PensionX (Pty) Ltd is a licensed Financial Services Provider (FSP 53753). We provide access to Retirement Annuities (RAs), distributed via Employers to their Employees. Our digital onboarding is conducted through WhatsApp, making retirement saving simple and accessible.

Our Retirement Annuity products are underwritten and administered by Itransact, a registered and authorised Financial Services Provider (FSP 45517).

PensionX facilitates the setup of Retirement Annuity accounts for Employees via participating Employers. We do not manage or hold your money. Instead:

• Employers facilitate monthly or ad hoc Lump Sum Contributions, which may include both Employer and Employee portions.
• Itransact receives the lump sum and allocates it into individual Retirement Annuity accounts in each Employee’s name.
• Contributions are invested according to the options made available by Itransact. By default, contributions are allocated to one of three underlying funds based on the Employee’s age, with younger Employees placed in higher-risk funds and older Employees placed in more conservative options.

To use our services:

• You must be a South African citizen, permanent resident, or foreign national legally living and working in South Africa, with a valid South African ID or passport and work permit.
• You must be at least 18 years old.

• All onboarding and communication will be conducted primarily through WhatsApp.
• By signing up, you consent to receiving messages from PensionX via WhatsApp or other electronic communication channels.

• You are responsible for reviewing your Retirement Annuity account information provided to you.
• You must notify us of any changes to your employment status or personal details.
• PensionX is not responsible for the performance of the underlying investments — these are managed by Sygnia, the Asset Manager of the funds. The overall Retirement Annuity product is administered and underwritten by Itransact.

• Employers are responsible for ensuring that contributions for participating Employees are paid timeously and in full.
• Employers will receive a breakdown of participating Employees and amounts due. Updates will only be provided when this schedule changes.
• The Employer acknowledges that PensionX and Itransact rely on this data for correct fund allocation.

• PensionX does not charge Employees directly.
• Fees are built into the product provided by Itransact, as disclosed in the relevant product documentation.

PensionX facilitates access to a Retirement Annuity product through Employers to support long-term financial security. This offering is based on a limited financial needs analysis focused solely on retirement savings.

• Employees do not receive comprehensive financial advice.
• Other needs, such as life insurance, disability cover, critical illness protection, healthcare, and short-term insurance, are not assessed or covered.
• PensionX does not provide holistic financial or investment advice. Information shared is for general guidance and educational purposes only.

All Retirement Annuity accounts are subject to the Pension Funds Act, the Income Tax Act, and other applicable South African legislation.

All content and materials on the website, including but not limited to text, graphics, logos, and software, are the property of PensionX or its licensors and protected by intellectual property laws. You may not use, reproduce, or distribute any content without prior written permission.

PensionX acts solely as an intermediary. Should PensionX cease to provide intermediary services, your existing RA will continue under Itransact’s administration.

• Contributions, fund changes, or updates will be managed directly between you (or your Employer) and Itransact.
• This does not affect your rights or obligations under your RA agreement.

PensionX operates as an intermediary and does not manage, invest, or hold client funds.

• We are not responsible for delays, omissions, or inaccuracies resulting from third-party systems, Employer data, or the Product Provider.
• PensionX shall not be liable for any indirect, incidental, special, consequential, or punitive damages.

Responsibility for the management and performance of Retirement Annuities lies with Itransact and the relevant Asset Manager.

We are committed to protecting your personal information and complying with the Protection of Personal Information Act (POPIA). For more details, please see our Privacy Policy

These Terms shall be governed by the laws of South Africa.

If you have a complaint, contact us at support@pensionx.co.za. If unresolved, you may escalate it to the Financial Advisory and Intermediary Services (FAIS) Ombud.

Disputes will be resolved through binding arbitration in South Africa.

All services and communications are provided “as is” without warranties. We do not guarantee:

• Accuracy or completeness of data from third parties;
• Uninterrupted service or error-free reporting.

PensionX partners with third-party providers like ITransact. While we facilitate access and support communication, we are not responsible for the performance, service quality, or actions of ITransact or any other third-party provider.

If any provision of these Terms is found invalid or unenforceable, the remaining provisions shall continue in full force and effect.