Training Manual

PROFILE:

THE PROGRAM IN FUNDAMENTALS OF RETIREMENT FUNDS TRUSTEESHIP

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The Fundamentals of Retirement Funds Trusteeship is a specialized program for retirement fund officials which provides specific competency to successfully undertake the responsibility of the role of Trustee or Principal Officer, allowing for the fulfillment of the Fit and Proper Guidelines, 2014.

Program convener: Zethu Nkala-Shongwe: 7977 5948, zethu@fiduciaryts.com

Objectives

Upon completion of this course participants should be able to-

Understand the basics of retirement funds. This includes different types of funds, differentiating funding methods, basic risk benefit concepts and cost management strategies for retirement funds.
Understand the roles and responsibilities of the different parties to retirement funds. This includes legislative requirements related to compliance, retirement fund governance issues and the proper management of retirement funds.
Have an appreciation of the key elements of developing retirement fund risk management, investment strategy and other policies and procedures.
Apply basic concepts of Section 33 of the Retirement Funds Act (RFA), 2005
Understand responsibilities of Trustees pertaining to investments including basic investment concepts.

Admission Requirements

Junior certificate or equivalent in line with the Fit and Proper Guidelines, 2014. Candidates with prior work experience and learning will be recognized.

Admission to Examination

Examinations will be conducted at the end of each module or at the end of the program
Students will be admitted to examination if they have attended at least 80% of lectures or have read study material (for the online class) of the lectures in that specific module and have attempted 80% of the online assessments.
Have made all tuition fee payments in full and provided proof of payment

The Fundamentals of Retirement Funds is a comprehensive program which consists of (4) Modules and 22 units, as presented below:

Module I : Introduction to Retirement Funds
Unit 1	Purpose and origins of retirement funds
Unit 2	Parties to a retirement fund
Unit 3	Funding methods
Unit 4	Types of retirement funds
Unit 5	The different funding methods of pension funds - defined benefit (DB) and defined contribution (DC)
Unit 6	Types of risk benefits
Module 2: Duties of Trustees and Governance Issues
Unit 7	The legal standing of retirement funds including fiduciary duties of fund officials
Unit 8	Understanding the role of a Trustee and the Principal Officer
Unit 9	What legislation and rules require of Trustees
Unit 10	Governance Structures
Unit 11	Developing and good governance structures
Unit 12	Dispute Resolution
Module 3: Section 33- Death benefits
Unit 13	Primary objective of Section 33
Unit 14	Duty to identify dependants and nominees of deceased members
Unit 15	The Duty to effect equitable distribution
Unit 16	Distribution Mechanism
Module 4: Introduction to Investments
Unit 17	Trustees’ responsibilities regarding investments
Unit 18	Types of Asset Classes
Unit 19	Risk and Return Trade-off
Unit 20	Trustee investment decisions and processes
Unit 21	Volatility, Diversification and Asset Allocation explained
Unit 22	Investment strategy guidelines

For more information contact the Program Conveyor (details provided above).