Edition: April / June 2016
Why Validate Your Training Service Offering?
Batseta moves to provide assessment
Much is on offer in the South African retirement industry when it comes to the education and training of trustees, but there is very little in the way of quality assurance. And when it comes to the strategic spend of a retirement fund’s resources, the picture is not always clear.
How many funds are able to demonstrate evidence of a causal link between their annual spend on education and training for trustees and an improvement in the competence of those trustees? The fact is that there are no effective means available for retirement funds to manage the education and training requirements of their trustees in a satisfactory way.
This is where the Batseta Validation Framework comes in. Batseta – Council of Retirement Funds for South Africa – is a professional body registered by SAQA under the NQF Act 67 of 2008. As such, Batseta is duly delegated to maintain standards and professionalism in the retirement fund industry.
The aim of the Validation Framework over time is to develop a feel for the quality and standard of what a credible and generally accepted benchmark will be against which all training can be assessed or assured for quality.
The applicable Batseta evaluation criteria can be summed up by answers to these questions:
For a designated member of Batseta to maintain his or her professional designation, a certain complement of Continuous Professional Development (CPD) training hours must be completed over a two-year cycle. In addition, the law requires that trustees must also maintain their competencies.
Competency development may take the form of various training activities, detailed in our CPD framework. Members will be encouraged to check with Batseta whether training activities are validated by Batseta, as this could influence their ability to claim the CPD points for the training activity.
Keeping track of CPD training hours and training activities is at the core of validation. A dedicated validation framework goes a long way towards helping funds take active ownership of their education and training needs. Batseta can maintain a reliable and structured stream of training activities into the industry that is quality assured.
For this reason, Batseta offers the providers of training services the opportunity to register with Batseta. Trustees stand to benefit greatly from this bouquet of training that we will create, and service providers will benefit from having their service offerings marketed on the Batseta membership platform.
Batseta has started the process of validating training events, training courseware, professional reading and other relevant training activities. The aim here is to achieve the level of quality of training and development of trustees that they need to function effectively for the benefit of their funds. Batseta invites all service providers to submit their courseware, as well as information on events to be validated.
All material that has been validated will receive a validation number for the duration of the validation. The validation process will allow service providers to use the Batseta logo on all their training courseware and training events as agreed in writing. There is an added benefit that service providers’ offerings will be published on the Batseta website.
There are several benefits to validation. For example:
There may be service providers who already have institutional accreditation at either a SETA or another industry body. These service providers would be exempt from the validation process. Nevertheless, an application can still be made to Batseta to regulate the usage of the Batseta logo. The necessary proof of accreditation would still be applicable.
Batseta is a leading industry body which actively contributes towards the advancement of the retirement fund industry through engaging with appropriate authorities and stakeholders. It undertakes interventions which ensure that consumers are financially literate and protected; that the regulatory environment is conducive to foster a culture of retirement savings, and that retirement funds are active owners of the assets under their care.
Batseta aims to contribute towards the personal development and growth of its members. The purpose is to provide services of high quality in the interests of retirement funds’ members and beneficiaries.