PURPOSE OF THE COURSE

As a Trustee of your Company's Pension or Provident Fund, you will now be well aware of the extensive fiduciary responsibilities placed on your shoulders.

In order to ensure that you are adequately equipped to fulfil this important role, Cedar Employee Benefits and Consultants have great pleasure in offering the following comprehensive Trustee Training.

THE COURSE IS DESIGNED TO TRAIN YOU TO:

● Understand the legal duties of a trustee

● Interpret the rules of a fund and understand the legal framework in which retirement funds operate..

● Cedar will co-ordinate and arrange “wellness days” in conjunction with the management of the employer to enhance the awareness of and participation in healthy lifestyle choices amongst the workforce.

● Understand the roles of the various service providers and trustees' duties with regard to these delegated functions

● Understand the duty to communicate with members, and how and when this should take place.

● Understand the meeting agenda and supporting documents circulated prior to the trustee meeting and be able to participate in the proceedings at these meetings.

THE TRAINING IS A FORUM TO OBTAIN A BETTER UNDERSTANDING OF FUNDAMENTAL ISSUES AND COMPARE NOTES WITH OTHER DELEGATES FROM OTHER COMPANIES

CONTENTS

The course comprises of 2 consecutive days. This course is in the process of being INSETA accredited and once accredited will align with the following standards:

COURSE CONTENTS INCLUDES:

● Foundational aspects of retirement funds

   This module will introduce you to some basic information about retirement funds including their purpose, function and the features of the different types of retirement funds. It will also deal with the establishment of a retirement fund (its registration and approval), taxation of benefits, how funds operate and their legal status.

●  Trustees Fund Officers Roles and Responsibilities

    This module will explain what a Trustee is, the establishment of a board of trustees, and who cannot be a trustee. The appointment and roles of the chairman and principal officer will be described. An overview of the legislation that applies to retirement funds will also be provided.

     This section deals significantly with the powers and duties of retirement fund trustees as well as issues regarding governance and protecting the fund from fraud or negligence of any of its officers.

●  Documents of a Fund

    This module covers the documents that the board of trustees need to be familiar with to enable them to efficiently run their funds. This module stresses the importance of the rules, gives an insight into what a typical set of rules might contain, and how such rules should be structured. The learner will be given an insight into the workings of the insurance policies of the fund, and the relationship of the fund with its insurers, through these documents. The section covers the fund's investment contracts, the documents that must be provided to members in terms of the minimum levels of communication required by the Registrar of Pension Fund, the trustee's responsibility with regards to the fund's administration agreement, the role of the minute book and the trustee register.

● Member communication

      This section covers the communication duties of trustees. It will look at what communication needs to be sent to active members' pensioners and frequency of this communication as well as any other communication responsibilities.

●  Trustee meetings

    This section would prepare you for the attendance of trustee meetings. It will cover the holding of meeting, the agenda, minutes of meetings and meeting protocol.

●  Advantages for sponsoring Employers

    Employers, who pay for their delegates to attend the course, will be able to deduct the costs of the training from the Skills Development Levies payable to the Government, provided the delegate completes the assessment. The refund must be claimed from the Sector Education and Training Authority (SETA) to which the employer belongs.

FUND SPECIFIC TRAINING

Training can be customised to the clients needs. Key features of Cedar's fund specific training are the company's extensive experience in training large funds, as well as the broad knowledge of the trainers.

FILE

Cedar assembles a branded file for the Client containing a copy of the rules, training material and any other documentation deemed necessary by the trustees.

BENEFITS

The benefit of fund specific training is trustees will be encouraged to openly discuss issues pertaining to their fund. These types of sessions encourage debate as well as an excellent learning opportunity for the trustees.

TIMING

The half-day course begins at 08h45 and ends at 13h00.

COSTS

● Fund specific training is charged at R1 000 per delegate (to a minimum of R10 000 for the session) per day, EXCL VAT

● Generic (open) courses (2 day course) are charged at R2 100.00 per person per day, EXCL VAT