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|SOUTH AFRICAN QUALIFICATIONS AUTHORITY|
|Occupational Certificate: Employee and Pension Fund Benefit Adviser|
|SAQA QUAL ID||QUALIFICATION TITLE|
|105025||Occupational Certificate: Employee and Pension Fund Benefit Adviser|
|Development Quality Partner - INSETA|
|PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY||NQF SUB-FRAMEWORK|
|-||OQSF - Occupational Qualifications Sub-framework|
|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||110||Not Applicable||NQF Level 05||Regular-ELOAC|
|REGISTRATION STATUS||SAQA DECISION NUMBER||REGISTRATION START DATE||REGISTRATION END DATE|
|LAST DATE FOR ENROLMENT||LAST DATE FOR ACHIEVEMENT|
|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|
An Employee and Pension Fund Benefit Advisor advises organisations regarding the selection and implementation of appropriate pension and employee benefit products and systems.
This qualification is the result of an industry process where the current unit standard based qualifications are being re-aligned into Occupational Qualifications. The qualification caters for building competences at Levels 5 and 6. There are three-part qualifications enabling the development of new entrants into the occupation and then catering for the further development as the employees specialise and eventually grow to become fully fledged financial advisors.
The effective use of wealth creation tools to grow wealth is essential for the protection and wellbeing of citizens. This industry provides an essential service in support of the development of the country and the achievement of the National Development Plan's objectives.
The growth of the financial services industry is dependent on the training and education of staff that will be able to provide professional financial services to people across the nation. This qualification will therefore support the National Development Plan and will contribute towards job creation and social harmony; it provides the basis for entry into the industry.
The qualification has relevance for learners in Retirement Funds, Investments, Medical Schemes and Intermediaries. The range includes, but not limited to:
|LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING|
|Recognition of Prior Learning (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 or certifying a work experience record.
RPL for access to the qualification:
Accredited providers and approved workplaces may recognise prior learning against the relevant access requirements.
NQF Level 4 with Communication.
|RECOGNISE PREVIOUS LEARNING?|
|This qualification is made up of the following compulsory Knowledge Practical Skills and Work Experience Modules.
Total number of credits for Knowledge Modules: 50.
Practical Skill Modules:
Total number of credits for Practical Skill Modules: 37.
Work Experience Modules:
Total number of credits for Work Experience Modules: 23.
|EXIT LEVEL OUTCOMES|
|1.Provide advice to clients regarding the implementation of Employee Benefits and Retirement Funds.|
|ASSOCIATED ASSESSMENT CRITERIA|
|Associated Assessment Criteria for Exit Level Outcome:
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 leads to entrance into the integrated external summative assessment.
Integrated summative assessment:
An external Integrated Summative Assessment, conducted through the relevant Quality Council for Trades and Occupations (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 Diploma in Employee Benefits and Retirement Savings is offered by the Pensions Management Institute (PMI). The PMI is the United Kingdom's leading professional body for those working in the field of employee benefits and retirement savings. It supports and develops the experts who are responsible for running the pensions industry and is acknowledged as the body for establishing, maintaining and improving professional standards in every area of pension scheme management, consultancy and trusteeship.
This qualification is ideal for those working at the margins of pensions who need to understand the area in the wider savings and employee benefits context. The aim of the Diploma is to provide holders with a comprehensive background to employee benefits and savings in the United Kingdom (UK). This will equip them for work in pensions and allied areas and can lead to further study or towards completion of the Advanced Diploma qualification.
This qualification comprises three compulsory units. These units are a selection from those available for the PMI Advanced Diploma. The two core units are:
FNS51115-Diploma of General Insurance:
This qualification is designed to reflect a range of the job roles with team and business result responsibilities in general insurance industry environments. Individuals in these roles have autonomy in performing technical operations, apply solutions to a range of often complex problems, and research, analyse and evaluate information from a variety of sources. They apply initiative to plan, coordinate and evaluate their own work and provide guidance to others. Work may include claims management, investigation and portfolio management.
The following modules are included in the qualification.
ASIC Tier 1 Compliance:
Client relationship management:
The Occupational Certificate: Employee and Pension Fund Benefit Advisor compares favourably with both the international qualifications in terms of purpose, level, and duration. As far as content is concerned both qualifications covers the generics of the industry and the related legislative requirements. The elective units chosen must be relevant to the work outcome and meet local industry needs which is the purpose of the Occupational Certificate.
This qualification articulates horizontally with the following qualifications:
This qualification articulates vertically with the following qualification currently being developed:
|CRITERIA FOR THE REGISTRATION OF ASSESSORS|
|Qualifying for External Assessment:
In order to qualify for an external assessment, learners must provide proof of completion of all required modules by means of statements of results and work experience records.
Additional Legal or Physical Entry Requirements:
Criteria for the Accreditation of Providers:
Accreditation of providers will be done against the criteria as reflected in the relevant curriculum on the Quality Council for Trades and Occupations (QCTO) website.
The curriculum title and code is:
This qualification encompasses the following trades as recorded on the National Learners' Records Database (NLRD):
This is not a trade qualification.
Assessment Quality Partner (AQP):
Insurance Sector Education and Training Authority (INSETA).
241301-001-00-00, Financial Advisor, Level 6, 515 Credits.
Part Qualifications Related to Occupational Certificate: Employee and Pension Fund Benefit Adviser Qualification:
241301-000-00-01, Occupational Certificate: Health Care Benefits Advisor, Level 5.
241301-000-00-02, Occupational Certificate: Long Term Insurance Advisor, Level 5.
241301-000-00-04, Occupational Certificate: Investment Advisor, Level 6.
|LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION:|
|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.