24-Month Extension granted for the Retail and Short-Term Insurance Qualifications – More time to complete your qualification.
Yesterday, the Financial Services and Motor Dealer Industries received welcome news with the publication of the Directive on the Implementation and Transitional Arrangements for Pre-2009 Qualifications, Trades, and Regulatory Unit Standards under the National Qualifications Framework Act, 2008.
The directive provides additional transitional arrangements for selected legacy qualifications that remain critical to South Africa’s skills development priorities.
Importantly, the Further Education and Training Certificate: Retail Insurance (SAQA ID 49835) and the Further Education and Training Certificate: Short-Term Insurance (SAQA ID 49929) have both been granted a 24-month extension for learner enrolments and achievements.
This extension comes as a relief to many learners, employers, and training providers who have been working against the previously communicated deadlines. It also acknowledges the significant work still underway to develop and implement suitable Occupational Qualifications that will eventually replace these legacy qualifications.
What Does This Mean for Learners?
The extension provides additional time for learners to enrol for and complete these valuable qualifications. However, it should not be viewed as a reason to delay.
The extension has been granted to support an orderly transition towards the Occupational Qualifications framework, and the directive makes it clear that these are the final transitional arrangements before the full implementation of Occupational Qualifications and Skills Programmes.
While industry stakeholders are working hard behind the scenes to ensure that suitable Occupational Qualifications are ready for implementation, these qualifications still need to undergo some development, quality assurance, and approval processes before they can be fully rolled out.
Why You Should Still Act Now
For anyone with outstanding FAIS credits, now remains the ideal time to complete them. Similarly, individuals whose Date of First Appointment (DOFA) requirement falls within the next two to three years should seriously consider enrolling for a legacy qualification while this opportunity remains available.
Legacy qualifications have served the financial services industry well for many years and remain a recognised pathway to meeting the FAIS Fit and Proper qualification requirements.
Future Occupational Qualifications are expected to introduce additional requirements, including
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A compulsory External Integrated Summative Assessment (EISA) conducted by an external assessment body.
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Workplace learning and work experience requirements that must be completed before certification can be awarded.
While these changes are designed to strengthen occupational competence, they may also increase the complexity and time required to achieve a qualification.
Secure Your Qualification While You Still Can!!
The extension provides breathing room, but it should not create a false sense of security. Opportunities to enrol for legacy qualifications are becoming increasingly limited, and this extension represents the final phase of the transition.
If you still need to complete outstanding FAIS credits or obtain a recognised qualification to meet the FAIS Fit and Proper requirements, now is the time to act.
Contact FAIS Forward Academy today to discuss your options and secure your place while legacy qualifications remain available.