Pursuing a degree in Actuarial Science can open doors to one of the most respected and high-paying careers in finance and risk management. However, university studies in this field can also become expensive, especially at South Africa’s top institutions. That is why the Old Mutual Actuarial Bursary South Africa 2027 is attracting strong attention from ambitious students across the country.
This bursary programme gives academically talented students the opportunity to study Actuarial Science with major financial support from one of South Africa’s biggest financial services companies. Beyond tuition assistance, the bursary also offers career development opportunities, mentorship, and potential employment after graduation.
For learners who excel in Mathematics and want a future in finance, insurance, investments, or risk analysis, understanding how this bursary works could become an important step toward a successful career.
What You Should Know First
The Old Mutual Actuarial Bursary South Africa 2027 is a fully funded bursary programme for students studying Actuarial Science at selected South African universities.
👉 Key point: This bursary does more than simply cover study costs. It also provides mentorship, professional exposure, and possible employment opportunities after graduation.
The programme is highly competitive and mainly targets academically strong students who perform exceptionally well in Mathematics.
Understanding the Old Mutual Actuarial Bursary Programme
The bursary programme was designed to help South Africa develop highly skilled actuarial professionals while giving talented students access to quality higher education.
Because actuarial careers require advanced mathematical and analytical abilities, Old Mutual focuses on supporting students who show strong academic potential and long-term commitment to the profession.
About Old Mutual
Old Mutual was founded in 1845 in Cape Town and has grown into one of Africa’s largest financial services companies.
Today, the company operates across several sectors, including:
- Banking
- Investments
- Insurance
- Savings
- Asset management
- Financial planning
Old Mutual serves millions of customers across Africa and international markets. The company is also listed on the Johannesburg Stock Exchange (JSE).
Because the business operates heavily in insurance, investments, and financial forecasting, actuaries play an important role inside the organisation.
What Does an Actuary Do?
Many students hear about Actuarial Science without fully understanding what actuaries actually do.
An actuary is a financial professional who uses mathematics, statistics, and risk analysis to help businesses make informed financial decisions.
Main Responsibilities of an Actuary
Actuaries often work in:
- Insurance companies
- Investment firms
- Pension funds
- Banks
- Healthcare companies
- Risk management departments
Their responsibilities may include:
- Calculating financial risk
- Predicting future losses or profits
- Designing insurance products
- Forecasting investment performance
- Advising pension funds
- Analysing statistical data
- Developing long-term financial strategies
Why Actuarial Careers Are Highly Respected
Actuarial Science is considered one of the most challenging academic fields because it combines:
- Advanced mathematics
- Financial theory
- Statistics
- Business analysis
Because relatively few students qualify as professional actuaries, demand for skilled professionals remains high both in South Africa and internationally.
What the Old Mutual Actuarial Bursary Covers
One of the biggest advantages of the Old Mutual Actuarial Bursary South Africa 2027 is the extensive financial support provided.
Expenses Covered
The bursary may cover:
✅ Tuition fees
✅ Study materials
✅ Accommodation in residence
✅ Meals
✅ Return flights home for students studying away from home
This level of funding significantly reduces the financial pressure many university students face.
Support Throughout the Degree
Bursary recipients receive support for the full duration of their studies, provided they continue meeting academic requirements.
Students who perform exceptionally well academically may also receive additional incentives and rewards.
Additional Opportunities Offered by the Programme
Unlike some bursaries that only provide funding, the Old Mutual programme also focuses on career development.
Guaranteed Employment Opportunities
After graduation, successful bursary recipients may receive:
- Guaranteed employment opportunities
- Exposure to real industry projects
- Structured professional development
Mentorship by Qualified Actuaries
Students are mentored by experienced actuarial professionals who help guide them academically and professionally.
This mentorship can help students better understand:
- The actuarial profession
- Corporate work environments
- Industry expectations
- Professional exam preparation
In-House Rotation Programme
Graduates may also participate in rotation programmes that expose them to different areas within the company.
This helps develop broader business knowledge and practical experience.
Universities Supported by the Bursary
The bursary supports Actuarial Science studies at selected South African universities.
Approved Universities
Funding is available for students studying at:
- University of Cape Town
- Stellenbosch University
- University of Pretoria
- University of the Witwatersrand
- University of the Free State
- North-West University
- University of Johannesburg
- University of KwaZulu-Natal
Some institutions may have different actuarial accreditation statuses, so students should verify programme details directly with the university.
Eligibility Requirements for the Old Mutual Actuarial Bursary
The programme has strict academic requirements because actuarial studies are highly demanding.
Basic Eligibility Criteria
Applicants must:
- Be South African citizens
- Have completed Matric or currently be in Matric
- Study or intend to study toward an undergraduate Actuarial Science qualification
- Study or apply to one of the approved universities
Academic Requirements
Applicants must achieve:
- Minimum 80% for Mathematics (not Mathematical Literacy)
- Minimum 60% for English Home Language OR 70% for English First Additional Language
- Minimum 70% for all other subjects
Additional Selection Considerations
Preference may be given to:
- Students from disadvantaged backgrounds
- Students demonstrating financial need
- Candidates from under-represented designated groups
- Students with disabilities
Applicants must also show commitment to qualifying as an actuary and potentially working for Old Mutual after graduation.
Step-by-Step Guide to Applying
The application process is completed online and requires careful preparation.
Step 1: Create an Online Account
Applicants must first register an account on the Old Mutual careers or bursary portal before starting the application.
Old Mutual Actuarial Science Bursary Application 2027
Step 2: Complete the Online Application
Students will need to provide:
- Personal information
- Academic records
- University details
- Career goals
Applicants may also be asked how they heard about the bursary programme.
Step 3: Upload Supporting Documents
Clear copies of all required documents must be uploaded.
Required Documents
Students typically need:
- Certified copy of ID document
- Latest Matric results or final Matric certificate
- Proof of university acceptance
- Full academic transcript (if already studying)
- Curriculum Vitae (CV)
- Completed bursary motivation form
- NBT statement (if applicable)
Step 4: Complete the Gamified Assessment
One unique feature of the programme is the non-time-based gamified assessment included in the motivation process.
This assessment helps evaluate problem-solving ability, behavioural traits, and decision-making patterns.
Understanding the Selection Process
The selection process involves multiple stages and is highly competitive.
Shortlisting Phase
Shortlisted candidates are usually contacted before the end of July 2026.
Selected applicants may then complete:
- Psychometric assessments
- Additional evaluations
Final Interview Stage
Finalists may be invited to a selection day that includes interviews and assessments.
The final bursary offer often depends on:
- Final Matric results
- University acceptance confirmation
- Overall interview performance
Why Mathematics Performance Matters So Much
Students often wonder why actuarial bursaries focus so heavily on Mathematics results.
The reason is simple: actuarial work relies heavily on complex calculations, probability, statistical modelling, and financial forecasting.
Example of Actuarial Thinking
An actuary working for an insurance company may calculate:
- The likelihood of accidents
- Expected future insurance claims
- Long-term financial risks
- Pricing structures for insurance products
These calculations require strong mathematical reasoning and analytical thinking.
Common Mistakes Applicants Make
Even academically strong students sometimes weaken their applications through avoidable mistakes.
Applying Too Late
Many bursary programmes close automatically once deadlines pass.
Students should avoid waiting until the final day to apply.
Uploading Incorrect Documents
Unclear or incomplete documentation may result in automatic disqualification.
Always double-check:
- Certified ID copies
- Academic records
- University acceptance letters
Underestimating the Motivation Section
Some students focus only on marks and neglect the motivation section.
However, bursary providers also want students who show:
- Determination
- Career commitment
- Leadership potential
- Passion for the actuarial profession
Common Misunderstandings About Old Mutual Actuarial Bursary South Africa 2027
There are several misconceptions surrounding this bursary programme.
“Only university students can apply”
Incorrect.
Current Matric learners may also apply if they meet the academic requirements.
“The bursary only pays tuition”
False.
The bursary may also cover accommodation, meals, study materials, and travel support.
“Actuarial Science is only about insurance”
Not entirely.
While actuaries often work in insurance, they also work in banking, investments, healthcare, consulting, and data analysis.
“Only perfect students qualify”
Not necessarily.
Although strong academics are essential, bursary committees also consider motivation, financial need, and long-term potential.
Why Actuarial Careers Continue to Grow
The financial industry increasingly depends on data analysis, risk modelling, and long-term forecasting.
As businesses become more data-driven, actuarial professionals remain valuable because they help organisations:
- Manage uncertainty
- Reduce financial losses
- Improve decision-making
- Build sustainable financial strategies
This makes actuarial careers highly future-focused.
Important Closing Date Information
The closing date for the Old Mutual Actuarial Bursary South Africa 2027 is:
📅 30 May 2026 at 23:59
Late applications are generally not accepted.
How to Contact the Bursary Provider
Students with questions may contact the Old Mutual Early Careers team.
📧 Email: earlycareers@oldmutual.com
Applicants should avoid contacting the company after the application process has officially closed unless absolutely necessary.
See also: Northlink College WIL Internships 2026: A Complete Guide for NCV Graduates
See also: Digby Wells Environmental Bursaries 2027: A Complete Guide for South African Students
Key Takeaways
- The Old Mutual Actuarial Bursary South Africa 2027 supports students studying Actuarial Science
- The bursary covers tuition, accommodation, meals, study materials, and some travel costs
- Students may receive mentorship and future employment opportunities
- Strong Mathematics performance is essential
- Applications are open to both Matric learners and university students
- The programme supports studies at selected South African universities
- The application closing date is 30 May 2026
Frequently Asked Questions (FAQs)
1. Does the bursary cover accommodation?
Yes.
The bursary may cover residence accommodation and meals.
2. Can Matric learners apply?
Yes.
Current Matric learners who meet the academic requirements may apply.
3. Is Mathematical Literacy accepted?
No.
Applicants must take pure Mathematics and achieve strong marks.
4. What happens after graduation?
Successful bursary recipients may receive mentorship, workplace exposure, and potential employment opportunities with Old Mutual.
Final Thoughts
The Old Mutual Actuarial Bursary South Africa 2027 offers more than financial support. It gives talented students access to professional mentorship, practical industry exposure, and potential long-term career opportunities in one of South Africa’s most respected financial organisations.
For students who enjoy Mathematics, problem-solving, and analytical thinking, this bursary could become the starting point for a rewarding and highly respected career in Actuarial Science.
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