Introduction

Pension is an income assured to citizens after retirement as a means of regular income and earning capacity. There are various types of pension schemes or plans across countries, but what is common to any scheme or plan is the need for good governance and regulation. Good pension scheme governance and regulation help identify, manage and control related risks.
Management of pension schemes and plans can be complex and challenging, and hence, having the necessary regulations in place to foster organised administration is extremely important. These regulations revolve around three important aspects of people, processes and structures.
Good governance and regulation is the foundation of any well-run pension scheme or plan. Public sector pension is pension paid to public sector employees. Some of these public sector pension plans are defined benefit pensions while some are unfunded.
One very important aspect of being an effective frontline staff is how you carry and present yourself as an individual. First impressions are often made within a few seconds by these staff as they interact with customers. These impressions can build or destroy a good image of the organization. This program helps participants leave a great first impression; and addresses how to deal with others in a business setting taking into account differences in cultural background.

Duration
10 Days
Who Should Attend?
 Senior members and top management of public sector organisations responsible for strategizing and devising plans around pension for employees
 Investors and shareholders to understand the kind of investment and the possible risks to investment when considering pension schemes
 Agencies or scheme managers whose sole responsibility is to ensure accurate pension accrual and pay-out

 Human Resource professionals who play an important part in ensuring employee satisfaction and engagement through various current and future benefits in the organisation
 Policymakers responsible for devising policies and plans around pension for employees, balancing the interest of the organisation and employees and compliance with universal standards
 Professional advisors who review pension plans of organisations and make suggestions for enhancement
 Any other public sector employee who would like to know more about pension governance and regulation and who would want to play an important role in driving effective pension governance and regulation in the organisation

Course Objectives
The main objective of this Certificate in Pension Fund Governance, Regulations and Best Practices course is to empower public sector professionals with—
 Thorough understanding of pension, pension schemes and plans as well as pension governance and regulation.
 The required knowledge and information to oversee and manage the pension plans in the organisation.
 Adequate skill and confidence to work with advanced techniques and strategies to enhance pension management through better governance and regulation.
 Adequate perspective and awareness to predict challenges and risks related to effective pension governance and the necessary ability to work towards eliminating these completely.
 The required information, experience, exposure and confidence to examine and enhance current pension schemes or devise new schemes for the benefit of employees.
 Information and knowledge to ensure that the organisation’s plans comply with universally acceptable standards.

 The required capabilities to undertake more challenging and senior roles in pension management, governance and regulation.

Course Outline
Module 1 – Overview of Pension, Pension Governance and Pension Regulation
 Definition of pension
 Importance of pension governance
 Importance of pension regulation
 Types of pensions
o Defined benefit pension
o Defined contribution pension

Module 2 – Factors Determining Defined Benefit Pension
 Final salary at retirement
 Tenure of employment with the employer
 Accrual rate
Module 3 – Factors Determining Defined Contribution Pension
 Money paid by the employee into a pension
 Money paid by an employer into a pension
 Tax relief received by the employee
 Performance of employee investments
Module 4 – Benefits of Saving into Pension
 Employer contribution
 Tax relief
 No inheritance tax
 Diversified, well-managed investment portfolio
Module 5 – Possible Recipients of Public Pension Schemes

 Civil servants
 The judiciary
 Local government workers
 Teachers
 Health service workers
 Fire and rescue workers
 Members of the police forces
 Members of the armed forces
Module 6 – Potential Risks to Pension Funds
 Financial crises
 Dishonest employer and pension managers
 Lack of financial literacy of employees
Module 7 – Objectives of Pension Fund Regulation
 Rule and standard creation to protect against theft
 Ethical standard creation for pension managers
 Supervision of performance and activities of pension managers
 Penalty issuance on offence or non-adherence to rules
 Representation of the voice of individual workers to ensure pension security
Module 8 – Focus Areas for Regulation in Case of Pension Management by
Agencies
 Risk aversion
 Outcome uncertainty
 Goal conflict
 Task programmability
 Outcome measurability

 Length/tenure of agent–organisation association
Module 9 – Stakeholders of Public Pension Funds
 Plan participants
o active members/current contributors
o retired member/current recipients
o survivors and dependents of active and retired members
 Government
 Taxpayers
Module 10 – Board-Related Focus Areas in Pension Governance and Regulation
 Board composition
 Nomination and termination
 Accountability
 Performance measurement
 Definition of roles and responsibilities
 Standards of behaviour
 Information management and transparency
Module 11 – Benefits of Good Pension Governance and Regulation
 High pension fund performance, low stakeholder cost
 Lowered overregulation costs
 Appropriate and effective supervision by authorities
 Positive effects on economic efficiency
Module 12 – Challenges in Pension Governance and Regulation
 Corruption and misconduct
 Lack of expertise of the governing body
 Agency issues

 Uncertain population dynamics
 Lack of required resources and skill
 Conflicts of interest
 Lack of incentives for fund managers
 Board member issues
o Lack of discipline
o Lack of skill and expertise
o Unclear, undefined responsibilities
o Incorrect member selection

METHODOLOGY
The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.
All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.

ACCREDITATION
Upon successful completion of this training, participants will be issued with Intensive Training Institute (ITI) certificate certified by the National Industrial Training Authority (NITA).

TRAINING VENUE
The training will be held at ITI Training Centre. The course fee covers the course tuition, training materials, two break refreshments and lunch.
All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.

ACCOMMODATION AND AIRPORT PICKUP
Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer.

Email: info@intensivetraining.co.ke
Mob: +254 727324901

TAILOR- MADE
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our ITI Training Centre or at a convenient location.

For further inquiries, please contact us on Tel: +254 727324901or mail
info@intensivetraining.co.ke

Course Fees
One on One training -KES 80,000 / USD 1100
Virtual Training -Kes 65,000/USD 850

PAYMENT
Payment should be transferred to ITI account through bank on or before course start date.
Send proof of payment to info@intensivetraining.co.ke