The Dawn of QCTO Qualifications: Embracing Change in Financial Services Education

In a significant stride towards educational evolution, the Financial Services Industry in South Africa is witnessing the long-awaited transition from SAQA-aligned unit standard-based qualifications to QCTO qualifications. This transformative shift marks a pivotal moment in the country’s educational landscape, set to take effect on 30 June 2024. For learners navigating their educational journey, it’s crucial to understand the implications of this transition and take proactive steps to ensure a smooth transition.

Understanding QCTO and QCTO Qualifications:

The Quality Council for Trades and Occupations (QCTO) serves as a key regulatory body overseeing the development, implementation, and certification of occupational qualifications in South Africa. Established under the Skills Development Act, the QCTO plays a fundamental role in promoting quality assurance and ensuring alignment with the evolving needs of industries and the labour market.

The preceding SAQA-aligned qualifications (now referred to as “Legacy Qualifications”) are making way for occupational qualifications, that have been developed based on the OQSF frameworks and standards. These innovative qualifications aim to meet the demands and advancements in the industry, ensuring better alignment with the required knowledge, skills, and competencies across various fields.

Unlike the SAQA-aligned qualifications or “Legacy Qualifications”, which were based on unit standards, QCTO qualifications adopt a holistic approach to skills development. By integrating a work experience component, they prioritize equipping learners with practical knowledge, competencies, and abilities essential for excelling in specific trades, professions, or occupations. This emphasis on industry relevance and practical application bridges the gap between education and employment, enriching learners’ employability and career prospects.

Difference between QCTO and Legacy Qualifications:

Legacy qualifications, owing to their obsolete nature, may no longer adequately reflect the current needs of specific industries or possess the necessary relevance. The transition to occupational qualifications aims to address this gap by offering targeted, industry-specific training and education.

A notable distinction between QCTO and Legacy Qualifications lies in the curriculum structures of these qualifications. Legacy qualifications comprise multiple individual unit standards, each focusing on practical competencies, theoretical knowledge, and critical cross-field outcomes. In contrast, QCTO qualifications segment the units of learning into three distinct modules: Knowledge, Practical Skills, and Work Experience.

In the legacy qualification system, each unit standard carries its own National Qualifications Framework (NQF) level and credit value, recorded in the National Learner Records Database (NLRD), whereas QCTO units of learning modules are not standalone components and do not separate unit standards in distinct units. Instead, credits are allocated to the entire qualification or part-qualification.

Teach-out Period for Legacy Qualifications:

As South Africa transitions to QCTO qualifications, legacy qualifications are being phased out. For learners with outstanding credits, now is the time to take action. The shift towards QCTO qualifications necessitates finalisation of these qualifications to ensure that you are not left behind.

Transitional arrangements have been instituted to facilitate this shift. The last date for enrolment for legacy qualifications is 30 June 2024.  Thereafter, learners have three years to complete the qualification, with the last date for achievement set as 30 June 2027, providing ample time for learners to complete their studies and assessments uninterrupted.

Countdown to 30 June 2024

As the countdown to 30 June 2024 draws closer, learners are encouraged to seize the moment and take proactive steps towards completing their outstanding credits.

Take the leap and enrol now for your FETC Retail or Short-Term Insurance Qualification with FAIS Forward Academy!

If you or someone you know need to complete their “Legacy” Qualification or “FAIS Credits,” reach out to us urgently. We’re here to assist you in checking your outstanding credits or enrolling you in one of these qualifications. Contact us at info@faisforwardacademy.co.za or WhatsApp 0714244905.