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 UNIT STANDARD: 

Administer basic asset related transactions in a Retirement Fund 
SAQA US ID UNIT STANDARD TITLE
117124  Administer basic asset related transactions in a Retirement Fund 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 3  NQF Level 03 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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 unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This unit standard introduces the knowledge and skills needed to administer asset related transactions for a Retirement fund. It is useful for retirement fund administrators and fund accountants.

The qualifying learner is capable of:
  • Administering basic asset related transactions.
  • Explaining the legislative environment relating to retirement fund transactions.
  • Reconciling outsourced pension payments. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this unit standard. Learners should be competent in Communication and Mathematical Literacy at level 2. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is the administration of asset related transactions in a retirement fund. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Administer basic asset related transactions. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Investment instructions are interpreted in terms of products and allocations. 

    ASSESSMENT CRITERION 2 
    Ongoing investment instructions are interpreted with reference to terms of contributions and withdrawals. 

    ASSESSMENT CRITERION 3 
    Disinvestment instructions are interpreted and the money is allocated to new investment portfolios. 

    ASSESSMENT CRITERION 4 
    Switching instructions are interpreted and an indication is given of conditions for switching in a member choice retirement fund. 

    ASSESSMENT CRITERION 5 
    The implications of Retirement Fund Rules for investment allocations are explained for a specific fund. 

    SPECIFIC OUTCOME 2 
    Explain the legislative environment relating to retirement fund transactions. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Investment class restrictions applicable to retirement funds are explained with reference to a specific fund. 

    ASSESSMENT CRITERION 2 
    Exchange control regulations are explained with reference to international assets. 

    ASSESSMENT CRITERION 3 
    Regulations relating to the transfer of a member's assets are explained with examples. 

    ASSESSMENT CRITERION 4 
    Timeframes related to retirement fund transactions are identified with examples. 

    SPECIFIC OUTCOME 3 
    Reconcile outsourced pension payments. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The difference between a pension fund where pensioners are outsourced and a fund where pensioners remain in the fund is explained with examples. 

    ASSESSMENT CRITERION 2 
    Instructions are issued on pension payments for outsourced pensioners. 

    ASSESSMENT CRITERION 3 
    Payments made by the insurer are reconciled against the instructions for pension payment. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This Unit Standard will be internally assessed by the provider and moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA. 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage him/herself and his/her activities responsibly and effectively in completing the required transactions within time specified in service level agreements. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in interpreting investment instructions. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively in issuing instructions on pension payouts. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use technology effectively in order to administer asset related transactions. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  49089   National Certificate: Financial Services  Level 3  NQF Level 03  Reregistered  2023-06-30  INSETA 
    Elective  49649   Further Education and Training Certificate: Long-term Insurance  Level 4  NQF Level 04  Reregistered  2023-06-30  INSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    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.
     
    1. CKP Development Agency (Pty) Ltd. 
    2. Intec College 
    3. Invuya Institute of Learning (Pty) Ltd 
    4. Masifunde Training Centre (Pty) Ltd 
    5. Sanlam Life Insurance Ltd 
    6. Sanlam Life Insurance Ltd. 



    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.