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: 

Explain the options available for post retirement healthcare funding 
SAQA US ID UNIT STANDARD TITLE
113919  Explain the options available for post retirement healthcare funding 
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  3 
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 does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners in a financial services environment. It will add value to financial planners, intermediaries financial advisers, healthcare intermediaries, product developers, co-coordinators of medical schemes and trustees of medical schemes and retirement funds. It views post retirement healthcare funding as an integral part of holistic financial planning.

The qualifying learner is capable of:
  • Explaining post retirement healthcare funding in the context of overall financial planning.
  • Analysing the need for healthcare funding as part of overall financial planning.
  • Analysing the effect of a client`s current benefits in the context of Group Employee Benefits at retirement.
  • Proposing a solution to provide for post retirement healthcare funding. 
    		•

    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 
    The typical scope of this Unit Standard is prefunding for healthcare as part of a holistic approach to financial planning. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain post retirement healthcare funding in the context of overall financial planning. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The concept of post retirement healthcare funding is explained with reference to the changing nature of the socio-economic environment and the requirements of The Financial Advisers and Intermediary Services Act (FAIS). 

    ASSESSMENT CRITERION 2 
    2. The need to include post retirement funding for healthcare as part of holistic financial planning is explained and an indication is given of the consequences if it is not allowed for. 

    ASSESSMENT CRITERION 3 
    3. The impact of age on post retirement prefunding is explained with examples. 

    ASSESSMENT CRITERION 4 
    4. The impact of medical inflation on post retirement healthcare funding is explained with examples. 

    ASSESSMENT CRITERION 5 
    5. Post retirement healthcare funding is identified as a risk event and an indication is given of why it should be included in risk protection measures. 

    ASSESSMENT CRITERION 6 
    6. The changing nature of the healthcare industry is explained with reference to the need for healthcare funding as part of overall financial planning. 

    SPECIFIC OUTCOME 2 
    Analyse the post retirement healthcare needs of individuals. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. A financial needs analysis is conducted to assess the current status of a client including healthcare needs. 

    ASSESSMENT CRITERION 2 
    2. Questions are asked to probe lifestyle and family medical history as a potential risk. 

    ASSESSMENT CRITERION 3 
    3. Actuarial experiences and current national statistics are analysed to determine mortality and morbidity. 

    ASSESSMENT CRITERION 4 
    4. Information is collated in order to provide objective advice. 

    SPECIFIC OUTCOME 3 
    Analyse the effect of a client`s current benefits in the context of Group Employee Benefits . 
    OUTCOME NOTES 
    Analyse the effect of a client`s current benefits in the context of Group Employee Benefits at retirement. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The healthcare and post retirement healthcare funding currently offered by an organisation are analysed and applied to the individual`s current status. 

    ASSESSMENT CRITERION 2 
    2. Scheme rules and current legislation are applied to assess the individual`s current situation. 

    ASSESSMENT CRITERION 3 
    3. Trends in employee benefits funding are applied to determine potential future needs. 

    SPECIFIC OUTCOME 4 
    Propose a solution to provide for post retirement healthcare funding. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Vehicles currently available for post retirement healthcare funding are described with examples. 

    ASSESSMENT CRITERION 2 
    2. Vehicles appropriate to a client`s needs are selected and presented with costs in plain language and in a digestible format. 

    ASSESSMENT CRITERION 3 
    3. A proposal is presented that meets a client`s need for post retirement healthcare funding and complies with legislation. 

    ASSESSMENT CRITERION 4 
    4. Administration procedures and records required to process an application are produced in compliance with legislation, for two case studies. 


    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 
    Learners are capable of identifying and solving problems and making decisions is proposing a solution for post retirement healthcare funding. 

    UNIT STANDARD CCFO ORGANISING 
    Learners are capable of organising and managing themselves and their own activities in completing the administrative procedures and writing the reports required to process and application. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are capable of collecting, organising and critically evaluate information in conducting a needs analysis and giving objective financial advice. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are capable of communicating effectively in presenting a proposal that meets a client`s needs and complies with legislation. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are capable of demonstrating an understanding of the world as a set of related systems by recognising the need for post retirement healthcare funding as part of holistic financial planning. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    N/A 

    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.