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: 

Analyse reports and documents of a retirement fund to ensure governance and manage risk 
SAQA US ID UNIT STANDARD TITLE
242617  Analyse reports and documents of a retirement fund to ensure governance and manage risk 
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 5  Level TBA: Pre-2009 was L5 
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 is intended for learners who need to work with the financials and other documents of retirement funds. It will be useful for skilled Trustees, Financial Directors, Administrators, Principal Officers and Retirement Fund Consultants.

The qualifying learner is capable of:
  • Explaining the reporting required of a retirement fund.
  • Applying knowledge of a retirement fund's investment strategy to validate implementation and ensure compliance.
  • Examining the assets and liabilities of a retirement fund to evaluate risk.
  • Analysing a retirement fund's strategy to manage risk. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 4. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Types of risks include operational, investment, insurance, governance and legal risks. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the reporting required of a retirement fund. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The reporting requirements of a specific fund are explained with reference to the rules of the fund and statutory reporting requirements. 

    ASSESSMENT CRITERION 2 
    The reports of a specific fund are analysed for compliance and an indication is given of the consequences of non-compliance. 

    SPECIFIC OUTCOME 2 
    Apply knowledge of a retirement fund's investment strategy to validate implementation and ensure compliance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A retirement fund's investment strategy is interpreted and checked for implementation against the strategy document. 

    ASSESSMENT CRITERION 2 
    The investment strategy is checked for compliance with current legislation and any mandates and an indication is given of the consequences of non-compliance. 

    SPECIFIC OUTCOME 3 
    Examine the assets and liabilities of a retirement fund to evaluate risk. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The assets and liabilities of a fund are analysed to determine potential mismatches between assets and liabilities. 

    ASSESSMENT CRITERION 2 
    Events that could impact on the financial position of a fund are identified and evaluated with reference to the management of risk. 

    SPECIFIC OUTCOME 4 
    Analyse a retirement fund's strategy to manage risk. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Exposures to risks in a retirement fund are analysed with reference to severity and probability. 

    ASSESSMENT CRITERION 2 
    The management strategy to manage each type of risk is analysed for a specific retirement fund with reference to mitigation of the risk. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 

  • 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 COLLECTING 
    The learner is able to collect, organise and critically evaluate information in examining the assets and liabilities of a retirement fund. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively in analysing and explaining the documents of a retirement fund. 

    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 
    Search words: financials, retirement fund administration, trustees. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  66611   National Certificate: Wealth Management  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


    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. AFRICAN UNION SKILLS DEVELOPMENT PTY LTD 
    2. ALCARI 233 CC T/A ALCARI (Eversdal)(TP) 
    3. Boland Public FET College - Central Office 
    4. CKP Development Agency (Pty) Ltd. 
    5. COLLEGE OF CAPE TOWN 
    6. College of Cape Town - Central Office 
    7. False Bay College 
    8. Intec College 
    9. Masifunde Training Centre (Pty) Ltd 
    10. North Link College 
    11. Old Mutual Life Assurance Company South Africa 
    12. Ray Strodl Consulting (Pty) Ltd 
    13. Ripple Effect 4 (Pty) Ltd 
    14. Sanlam Life Insurance Ltd 
    15. Sanlam Life Insurance Ltd. 
    16. South Cape College 
    17. South Cape Public FET College - Central Office 
    18. The Institute of Health Risk Managers (Pty) Ltd 
    19. Umfolozi FET College - Central Office 
    20. Universal Healthcare Services (Pty) 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.