SAQA

All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.

SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED QUALIFICATION:

Occupational Certificate: Trustee

SAQA QUAL ID	QUALIFICATION TITLE
118694	Occupational Certificate: Trustee
ORIGINATOR
Development Quality Partner - INSETA
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY			NQF SUB-FRAMEWORK
-			OQSF - Occupational Qualifications Sub-framework
QUALIFICATION TYPE	FIELD		SUBFIELD
Part-Qualification	Field 03 - Business, Commerce and Management Studies		Finance, Economics and Accounting
ABET BAND	MINIMUM CREDITS	PRE-2009 NQF LEVEL	NQF LEVEL	QUAL CLASS
Undefined	31	Not Applicable	NQF Level 04	Regular-ELOAC
REGISTRATION STATUS		SAQA DECISION NUMBER	REGISTRATION START DATE	REGISTRATION END DATE
Registered		EXCO 0522/24	2022-02-03	2025-12-31
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2026-12-31		2029-12-31

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.

This qualification does not replace any other qualification and is not replaced by any other qualification.

PURPOSE AND RATIONALE OF THE QUALIFICATION

Purpose:

The purpose of this part-qualification is to prepare a learner to operate as a Trustee.

A Trustee directs, controls, and oversees the operations of a retirement fund in terms of the applicable law, including common law, rules and the objectives of the Fund. A competent candidate shall demonstrate among others the following attributes: honesty, punctuality, initiative, critical analysis, decision making, integrity, ethical, etc.

A qualified learner will be able to:

Direct the governance functions of the Fund by the Board of Trustees.

Rationale:

The Regulatory framework within the financial, insurance and banking services sectors has evolved into a 'Twin Peaks' model of regulation, which resulted in the overhaul of the Regulatory landscape. This requires users to continually undergo training and development to master the changes and amendments introduced by the new Regulatory framework.
The review of this part qualification has necessitated the development of this part-qualification which comprises the minimum requirements prescribed by the Regulator as well as additional competencies. The part qualification aims to equip learners with knowledge and fundamental understanding of the governance of the Fund.

This part-qualification is aimed at learners who are new entrants or currently serving as trustees and retirement fund functionaries with demonstrable experience in retirement funds and a desire to fulfil the requirements of this function and have access to a Fund.
Upon completion of this part qualification learners will acquire fundamental knowledge and skills that will enable them to direct the governance functions of the Fund by the Board of Trustees.

The part-qualification allows for career progression both horizontally and vertically. Learners who aspire to pursue careers such as tracers, secretarial, management committee members, administrators, human resources related occupations, to name but a few, within the financial sector.
Learners who successfully complete the Trustee qualification can progress their careers, with additional training, to pursue careers including but not limited to: Retirement Fund Trustee, employee benefit administrator and labour related occupations.

Learners who successfully completed the qualification will be confident that their skills are meaningful and fit for purpose. Learners will have opportunities for career progression and mobility.
The retirement fund industry and society at large can be confident about skills and leadership abilities acquired by Retirement Fund Officers meeting regulatory standards. Thus, enhancing the reputation and credibility of Board members in respect of protecting the interest of members through ethical conduct and globally accepted practice.
The part qualification was reviewed in collaboration with Council for Retirement Funds for South Africa.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Recognition of Prior Learning (RPL):

Learners will gain access to the qualification through RPL for Access as provided for in the QCTO RPL Policy. RPL for access is conducted by accredited education institution, skills development provider or workplace accredited to offer that specific qualification/part qualification.

Learners who have acquired competencies of the modules of a qualification or part qualification will be credited for modules through RPL.

RPL for access to the external integrated summative assessment

Accredited providers and approved workplaces must apply the internal assessment criteria specified in the related curriculum document to establish and confirm prior learning. Accredited providers and workplaces must confirm prior learning by issuing a statement of result.

Entry Requirements:
The minimum entry requirement for this part-qualification is:

NQF Level 3 qualification.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This part-qualification is made up of compulsory Knowledge, Practical Skill and Work Experience Modules:

Knowledge Modules

134910-001-01-KM-01 Governance, strategic direction and control, Level 4, 4 Credits.

134910-001-01-KM-02, Fundamentals of Retirement Fund Legislation, operations and governance, Level 4, 12 Credits.

Total number of credits for Knowledge Modules: 16

Practical Skill Modules

134910-001-01-PM-01 Govern the activities of the Board, Level 4, 8 Credits.

Total number of credits for Practical Skill Modules: 8

Work Experience Modules

134910-001-01-WM-01 Processes related to contributing to governance of the Board, Level 5, 7 Credits.

Total number of credits for Work Experience Modules: 7

EXIT LEVEL OUTCOMES

1. Direct the governance functions of the Fund by the Board of Trustees.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:

Apply Code of Conduct established for and by the Board.

Appoint principal Officer (and Deputy Principal Officer where applicable) and independent trustees (where applicable).

Elect Chairperson of the Board.

Keep proper registers, books and records of the operation of the Fund.

Identify dependants and nominated beneficiaries.

Distribute benefit payments to members and death benefits to dependants and nominated beneficiaries in accordance with the Act and the rules.

Coordinate fund activities/operations by the Board on an on-going basis.

Integrated Assessment:

Integrated Formative Assessment
The skills development provider will use the curriculum to guide them on the stipulated internal assessment criteria and weighting. They will also apply the scope of practical skills and applied knowledge as stipulated by the internal assessment criteria. This formative assessment together with work experience leads to entrance in the integrated external summative assessment.

Integrated Summative Assessment:
An external integrated summative assessment, conducted through the relevant QCTO Assessment Quality Partner is required for the issuing of this qualification. The external integrated summative assessment will focus on the exit level outcomes and associated assessment criteria. The assessment will be conducted through written assessment and the evaluation of practical tasks at decentralised approved assessment sites by a panel of assessors evaluated by assessor(s) registered with the AQP within a period of 1 day.

INTERNATIONAL COMPARABILITY

The South African Trustee qualification has been compared with qualifications and courses offered in United Kingdom (UK) and New Zealand (NZ).

United Kingdom

Tower Watson, a UK based training provider is providing an e-learning short course for trustees called Trustee and Scheme management. The aim of the course is to empower trustees with the required knowledge in order for them to perform their functions effectively. The content of the course includes understanding the law relating to pensions and trusts, the funding of pension schemes, and the investment of scheme assets.

New Zealand
The New Zealand Financial Services Council as from 1 July 2019 incorporated the Workplace Savings New Zealand. It offers a Workplace Savings NZ Certificate in Trusteeship. It is a modular structured course consisting of the following modules:

Development Module 1 - Introduction to Trusteeship (broader understanding of legal obligations associated with governance of a trust such as trustee powers, duties and the exercise of discretions).

Development Module 2 - Current Good Practice Governance (effective, efficient and responsive board of trustees).

Development Module 3 - Introduction to Wholesale Investing (inform and educate trustees about wholesale investments fundamentals).

Development Module 4 - Trustee investment Decisions (selecting and mixing fund managers, selection a consultant, evaluating investment surveys understanding different types of vehicles and evaluating the option of own assets).

Similarities

These are offered either in contact sessions, e-learning, distance learning or in the form of conferences or seminars.

The NQF levels of the courses vary from NQF Level 4 through to NQF Level 6, depending on the scope of the content of the programme. The duration of the courses offered has also been found to vary from being a two-day workshop to a six-day workshop.
Course content covered by the training providers compares favourably with that covered in the South African occupational qualification. It has also been established that in all the courses offered by the training providers, the objective is to empower trustees to comply with various legislative requirements and regulatory framework stipulations that prescribe to the retirement fund industry.
Access to the qualification is somewhat open with recommendations for individuals with a Bachelor of Commerce, Legal or Administration qualification. The courses are aimed at learners who are the employer's representative, employees' representatives, interested parties and individuals who are involved in advising the Boards on the distribution of members' funds.

Conclusion
In conclusion, the South African Trustee Occupational qualification compares with the courses offered in countries regarding the content and competencies.

ARTICULATION OPTIONS

This part-qualification provides opportunities for horizontal and vertical articulation options.
Learners who complete this qualification accumulate credits towards the relevant full qualification. The Credit Accumulation and Transfer (CAT) Policy shall apply to these learners.

Horizontal Articulation:

Occupational Certificate: Investment Adviser, NQF Level 4.

Vertical Articulation:

Occupational Certificate: Professional Principal Executive Officer (Retirement Fund Trustee), NQF Level 5.

Occupational Certificate: Retirement Fund Trustee, NQF Level 5.

NOTES

Qualifying for External Assessment:
To qualify for an external assessment, learners must provide proof of completion of all required knowledge and practical modules by means of statements of results and a record of completed work experience.

Additional Legal or Physical Entry Requirements:

None

Criteria for the accreditation of providers
Accreditation of providers will be done against the criteria as reflected in the relevant curriculum on the QCTO website.

The curriculum title and code are: Trustee: 134910-001-01-01

Encompassed Trade:
This qualification encompasses the following trades as recorded on the NLRD:

This is not a trade qualification.

Assessment Quality Partner (AQP)
Council of Retirement Funds for South Africa (BATSETA)

Parent qualification

Occupational Certificate: Retirement Fund Trustee, NQF Level 5.

LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION:

NONE

PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION:

This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.

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