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Old Mutual Corporate kicks off first EB bootcamp

05 September 2019 Old Mutual

In today’s dynamic and fast-changing world, the best way to succeed is to constantly stay ahead of the changes. Clement Chinaka, MD of Old Mutual Corporate, says corporate clients increasingly expect Employee Benefits (EB) service providers to harness the latest trends and technology to help them structure the best benefits at the optimal price and maximise their return on EB investment.

To meet this need Old Mutual Corporate recently rolled out an industry-first Employee Benefits Bootcamp to ensure its consultants and other employees gain the technical insights they need to continue to be leaders in delivering excellent service and advice to clients. The course comprises a 5-day immersive learning experience co-designed and facilitated by the University of the Free State (UFS) School of Financial Planning Law.

Shirly Hyland, Director: School for Financial Planning Law in the Faculty of Law at the UFS, says that the faculty was happy when, Sikelelwa Mbuyi the Learning Manager of Old Mutual approached the school to assist in designing the course. “Our School of Financial Planning Law recognises the importance of retirement planning, not just in South Africa but globally. We’ve been working closely with the team at Old Mutual to develop a world-class programme in Employee Benefits, one that combines technical classes with practical applications to equip participants with the right skills to take into the market,” says Hyland.

She explains that the programme set out to transfer vast technical knowledge that will enable participants to offer high level employee benefits advice to clients. “They will also be equipped to ensure that retirement funds are managed optimally in a way that any irregularities can be brought to light. With these abilities and knowledge, Old Mutual Corporate is taking a step in the right direction to ensure that the retirement crisis in South African can be addressed over time,” she explains.

The course covered a variety of topics relevant to the EB industry including:
• social security and retirement reform
• legislation governing the industry
• different types of retirement funds in SA
• group risk benefits
• retirement fund benefits
• governance of retirement funds
• investment of retirement fund assets
• protection and transfer of retirement fund benefits
• practical assessments and applications of the theoretical aspects

Participants expressed great satisfaction after they completed the course and stated that the facilitation was technically strong, and the practical examples and robust discussions added a lot of value.

Chinaka is determined that the Old Mutual team will be the best in the industry for its clients. “We’re very excited about the partnership with the UFS to improve our team’s technical knowledge. The plan is to run regular bootcamps throughout the year. We will also offer external employee benefits consultants the opportunity to enroll to ensure the very best advice to all clients.”

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Is 30 the new 65?

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Yes, it is becoming inevitable that retirees need to save for a 30 year time horizon when it comes to retirement
No, why change a model that has been working for many years
At least if a retiree reinvests their pot of cash compound interest will resolve the longevity problem
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