The research model developed for the process
In her opening address, President Geraldine Fowler reaffirmed that the industry body values its role as a beacon of excellence and leadership in the African retirement sector.
She noted that IRFA is committed to advocacy, dissemination of critical information and education and is recognised for its pivotal role in shaping the dynamics of the retirement fund industry in creating change in the industry and society as a whole. These statements are strongly supported by the findings of IRFA’s research undertaken in the sector in August this year.
The study undertaken among retirement funds themselves, service providers and legislators, provided endorsement of the current role, contribution and reputation of the industry body. It also provided guidelines for future service offerings by IRFA.
Fowler says “engagement and perceptions research is a vital tool for industry bodies. It helps in understanding and meeting the needs of stakeholders and drives strategic decisions, improves communication, measures impact, and fosters innovation. By prioritizing research industry bodies can ensure long-term success and sustainability. This type of research is crucial for any industry body aiming to contribute towards a thriving and sustainable sector”.
She continues “the research findings provided valuable insights into how our stakeholders view and interact with IRFA which will significantly impact service delivery and contribution”. In terms of research process and findings, the methodology has been rigorous . The survey itself was conducted online.
Both quantitative and qualitative responses were incorporated, and all critical dimensions in the research model comprehensively tabulated by the relevant demographic variables to establish significant deviation, and specific stakeholder group needs from IRFA.
Findings as a sectorial mean strongly endorse the current role and strategy of the industry body
Additional suggestions from survey participants surfaced in the qualitative battery indicate that the sector would like IRFA to continue to:
• Provide legal and technical expertise
• Engage regulatory authorities
• Provide forums/platforms for cross-sharing of learnings, experiences and for networking
• Provide platforms for policymakers & regulatory framework to engage and update the sector
• Focus on thought leadership and education
• Enable the gathering of industry players to create a single hub of expertise accessible to all members such as IRFA’s annual conference and regular webinars
In terms of reputational indices, IRFA is certainly highly regarded by the retirement sector, positioning it to continue to play its pivotal role working together with regulators and legislators, and the sector at large. Demographic variance to this battery was insignificant.
Fowler concludes; “While the results of the survey have been pleasing, without our members and stakeholders these achievements would not be possible. Our conference theme “Better Together – Building a Socially Secure Future” encapsulated the spirit of collaboration and collective intelligence in driving innovative solutions for the complex challenges in the retirement sector. IRFA does not stand alone in the drive for a better tomorrow. At the conference more than 1200 individuals, trustees, principal officers, asset managers, service providers, regulators and industry experts, gathered as a collective to learn, share, and innovate in a strive for optimal and sustainable progress. IRFA is proud to have been able to facilitate this process.”
