Management Committee Training

This training is designed to empower Management Committee (Manco) members with a solid understanding of retirement fund governance and the workings on an umbrella fund, including your role and responsibilities within that environment. It covers key topics such as fund structures, trustee roles, benefits, compliance, and investment oversight. Mancos play a vital advisory role, and this program helps them engage eﬀectively. Whether new or experienced, learners will gain the tools to support fund sustainability and member outcomes.

Key concepts

The course is designed to equip you with:

Practical insights into how umbrella funds operate, including benefit structures, investment choices, and regulatory requirements.
You will learn how to contribute meaningfully as a Manco member and what your rights and responsibilities are.
Knowledge to ensure compliance and promote good decision-making that aligns with members' needs.

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Syllabus

The course consists of 5 modules and will take approximately 3 hours of learning time to complete, including assessments and exercises.

Modules 1 - 5

Module 1: Fundamentals of Umbrella Funds

This module introduces how employers can oﬀer retirement and related benefits through umbrella funds. It explores the key role players involved in managing these funds and their responsibilities. Participants will gain insight into the regulatory framework governing umbrella funds, including relevant legislation and oversight bodies. A strong foundation is laid for understanding the operational, compliance, and governance aspects.

Module 2: Fund Management

This module outlines the responsibilities of Manco members within an umbrella fund. It clarifies the roles of fund oﬃcers and provides guidance on engaging with the fund's trustees. Participants will learn about eﬀective participation in Manco meetings and the importance of proper governance. The module also highlights the handling, privacy, and security of critical fund-related documents.

Module 3: Fund Benefits

This module explains how a member's fund value grows and the critical role of merely contributions. It covers benefit options available during employment, including the annual savings pot withdrawal. Participants will explore what happens when members exit the fund due to resignation, retrenchment, or retirement. The module also addresses benefits in the event of death, disability, or funeral claims, highligthing the Manco's responsibilities in these situations.

Module 4: What You Need to Know About Investments

This module introduces the legal and practical foundations of retirement fund investments, including the requirements of Regulation 28. It explains key concepts such as risk, return, and asset classes. Participants will explore diﬀerent types of investment portfolios and the disnconnect between Manco-directed and member-directed choices. The module also provides tools to assess the performance of a fund's investments, helping Manco members make informed decisions and ask the right questions.

Module 5: What Fund Members Need to know

This module focuses on empowering members through financial literacy and education. It highlights the importance of a clear communication policy and strategy by the fund. Participants will understand their role in supporting and enhancing member communication eﬀorts. The module emphasises how eﬀective communication contributes to informed decision-making and improved retirement outcomes.

What you earn

Course fees

Fund Bookings

All costs are per learner and exclusive of VAT. Bulk discounts are available for groups of 5 or more.

Participating in this course oﬀers Manco members a unique opportunity to strengthen their knowledge and confidence in navigating the umbrella fund environment. You will gain a comprehensive understanding of your advisory and oversight role and how it supports the board of trustees in safeguarding the interests of your employees.