Issue: March 2012 / May 2012
Effective trustee training is available
As a specific and urgent priority for skills development, the magnitude and importance of training for retirement-fund trustees was highlighed as far back as 2003 at the government-sponsored Growth & Development Summit. In the following year it was enshrined as a specific commitment of the Financial Sector Charter.
Hutchison...help at hand
Mary Hutchinson, manager for trustee training at Liberty Corporate, believes that the pension-fund industry is therefore fully cognisant of its responsibilities. Amongst other things, these are to help trustees ensure that their funds’ administrators and managers fulfil their obligations and deliverables in terms of agreed mandates.
Most recently, she emphasises, the revised Regulation 28 – which regulates the investment of retirement funds’ assets -- has made it “essential for trustees to fully understand their obligations and to develop strategies and systems that will ensure compliance”.
To assist trustees overcome these challenges, Liberty Corporate has partnered with independent trainer InvestmentWise and launched a series of trustee-training workshops.
These workshops have been developed to cover:
In addition to the workshops, Liberty Corporate regularly convenes Investment Day sessions for trustees who want to understand the challenges arising from the changes to Regulation 28.
During and after the training, trustees are required to undergo formal assessments including a
Those who meet the requirements then receive a Certificate of Competence from the Insurance Sector Education & Training Authority (INSETA), established under the Skills Development Act. These certificates are nationally-recognised credits towards the relevant unit standards.
For further information please contact: