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 THAT HAS PASSED THE END DATE: 

Apply industry knowledge to develop an investment strategy for a group retirement fund or medical scheme 
SAQA US ID UNIT STANDARD TITLE
113930  Apply industry knowledge to develop an investment strategy for a group retirement fund or medical scheme 
ORIGINATOR
SGB Financial Services 
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 4  NQF Level 04  2 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 		 2004-02-11  2007-02-11  SAQA 1852/04 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2008-02-11   2011-02-11  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
243140  Demonstrate knowledge and understanding of the investment strategy of a selected medical scheme  Level 4  NQF Level 04  2   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners in a financial services environment. It will add value to trustees of retirement funds, trustees of medical schemes and learners who work in group retirement fund or medical scheme administration.

The qualifying learner is capable of:
  • Analysing the needs of members of a group retirement fund or medical scheme.
  • Indicating the impact of value systems on an investment strategy.
  • Explaining the guidelines for investment in terms of current legislation.
  • Suggesting a possible investment strategy for a specific group retirement fund or medical scheme. 
    		•

    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, Mathematical Literacy and Financial Literacy at Level 3. 

    UNIT STANDARD RANGE 
    Either group retirement funds or group medical schemes. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse the needs of the members of a group retirement fund or medical scheme. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. A report on payroll information is interpreted to determine the average, number of members within five years of retirement, age bands, income range and staff turnover in a specific retirement fund or medical scheme. 

    ASSESSMENT CRITERION 2 
    2. The impact of payroll data and staff turnover on an investment strategy is explained with reference to member choice. 

    ASSESSMENT CRITERION 3 
    3. The additional information required if member choice is an option is identified and an indication is given of the consequences if trustees neglect to gather the necessary information. 

    SPECIFIC OUTCOME 2 
    Indicate the impact of value systems on an investment strategy. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The effect of human resource and financial policies on the investment strategies of a group retirement fund or medical scheme is explained with reference to the employer`s goals and agenda. 

    ASSESSMENT CRITERION 2 
    2. The effect of industry norms and values on the investment strategies of a group retirement fund or medical scheme is explained with reference to industry specific goals and agendas. 

    ASSESSMENT CRITERION 3 
    3. The effect of individual members` norms and values on the investment strategies of a group retirement fund or medical scheme is explained with reference to individual goals and agendas. 

    ASSESSMENT CRITERION 4 
    4. A profile of members of a specific group retirement fund or medical scheme is compiled in order to determine the outcomes for a fund. 

    SPECIFIC OUTCOME 3 
    Explain the guidelines for investment in terms of current legislation. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The legislated guidelines for retirement fund or medical scheme investment are explained with reference to investment parameters. 

    ASSESSMENT CRITERION 2 
    2. The importance of the annual compliance certificate is explained and an indication is given of the consequences of non-compliance for trustees. 

    ASSESSMENT CRITERION 3 
    3. The investment mandate of a retirement fund or medical scheme is compared to the needs and wants of members and an indication is given of the appropriate benchmark for the fund. 

    ASSESSMENT CRITERION 4 
    4. The impact of past investment decisions on retirees is explained and an indication is given of how past decisions affect current and future investment strategy. 

    SPECIFIC OUTCOME 4 
    Suggest a possible investment strategy for a specific group retirement fund or medical scheme. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Asset classes appropriate for a specific retirement fund or medical scheme are identified with reference to the investment mandate. 

    ASSESSMENT CRITERION 2 
    2. Proposals from three different fund managers are evaluated in order to make an investment decision. 

    ASSESSMENT CRITERION 3 
    3. The credentials of an asset manager are evaluated in terms of performance history, philosophy, process and people. 

    ASSESSMENT CRITERION 4 
    4. An investment strategy is proposed and substantiated for a specific retirement fund or medical scheme. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Accreditation for this Unit Standard shall be obtained from the relevant Education and Training Quality Assurance Body, through summative and formative assessment by a registered assessor.
  • Assessors must be registered as an Assessor with the relevant ETQA.
  • Moderators must be registered as assessors with the relevant ETQA, or with an ETQA that has a Memorandum of Agreement with the relevant ETQA.
  • Training providers must be accredited by the relevant ETQA.

    Moderation should include both internal and external moderation where applicable. 
    		•

    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 IDENTIFYING 
    The learner is capable of identifying and solving problems in which responses show that responsible decisions using critical thinking have been made in suggesting and substantiating a possible investment strategy for a retirement fund or medical scheme. 

    UNIT STANDARD CCFO WORKING 
    The learner is capable of working effectively with others as a member of a team, group, organisation or community in analysing the profile of members of a retirement fund or medical scheme and proposing an investment solution to meet their needs. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is capable of collecting, organising and critically evaluating information in compiling a member profile, evaluating proposals from fund managers and evaluating the credentials of an asset manager. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is capable of communicate effectively using in compiling a member profile and proposing an investment strategy. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is capable of demonstrating an understanding of the world as a set of related systems by explaining the impact of past decisions on current and future investment strategies. 

    UNIT STANDARD CCFO CONTRIBUTING 
    The learner is capable of being culturally and aesthetically sensitive across a range of social contexts in interpreting the needs of members of a specific fund or scheme and explaining the effect of norms and values on investment strategies. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 243140, which is " Demonstrate knowledge and understanding of the investment strategy of a selected medical scheme ", Level 4, 2 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  49649   Further Education and Training Certificate: Long-term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    Elective  48493   National Certificate: Financial Services: Wealth Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2007-02-11  Was INSETA until Last Date for Achievement 


    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.
     
    NONE 


    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.