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CF Strategic Plan 2011 2016 Presentation to the Portfolio Committee on Labour 29 March 2011

This strategic plan outlines the goals and achievements of the Compensation Fund in providing efficient social safety net, professional HR, and improving corporate governance. It also highlights the integration with social security reforms and steps to enhance financial viability, corporate support, and service quality.

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CF Strategic Plan 2011 2016 Presentation to the Portfolio Committee on Labour 29 March 2011

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  1. CF Strategic Plan 2011 2016 Presentation to the Portfolio Committee on Labour 29 March 2011 Overall Accountability Compensation Commissioner: Mr. S.S. Mkhonto Compensation Fund Strategic Plan 2011 - 2016

  2. Legislative Mandate • The Compensation Fund is a Public Entity of the Department of Labour • It is responsible to administer the Compensation for Occupational Injuries and Diseases Act (COIDA) No. 130/1993 as amended by the COIDA 61/1997 Compensation Fund Strategic Plan 2011 - 2016

  3. Measurable Objective • To pay compensation for death or disablement caused by occupational injuries and diseases sustained or contracted by employees within 90 days of receipt of full documentation Compensation Fund Strategic Plan 2011 - 2016

  4. MINISTER OF LABOUR COMPENSATION COMMISSIONER COMPENSATION BOARD DIRECTORGENERAL: LABOUR BOARD SUBCOMMITTEES AUDIT COMMITTEE Reporting Framework Compensation Fund Strategic Plan 2011 - 2016

  5. CF Strategic Goals 2011 2016 • Providing an efficient social safety net. • Providing professional, efficient and client orientated human resource. • Strengthening corporate governance. • Integration of the Fund with the comprehensive social security reforms. • Promote policy advocacy. • Improve financial viability. • Improve corporate support and services. • Enhance quality and access to COIDA services and information. Compensation Fund Strategic Plan 2011 - 2016

  6. 2010/11 Strategic Achievements • The Fund processed and paid 446 911 compensation benefits in 2010/11 amounting to R606,310,161, as compared to 254 019 amounting to R580,475,988 during 2009/10. • The Fund also paid 186 563 medical accounts amounting to R409,111,173, in 2010/11 as compared to 135 829 amounting to R232,933,375 in 2009/10. • Of the above medical accounts, 4 889 were paid via the new bulk loading system at an amount of R4,630,022.51. • Minister approved 7% increase in medical tariffs, and 4.6% increase in compensation benefits plus 90% purchasing power catch up. Compensation Fund Strategic Plan 2011 - 2016

  7. 2010/11 Strategic Achievements • Draft policy on rehabilitation, reintegration and return to work has been developed. • Implementation of the CF Turnaround Strategy. • Business processes mapped and reengineered. • Organisational structure redesigned in a process of approval. • Service delivery model, change management, competency and migration frameworks developed. • Decentralised claims processing to 5 Provincial offices. • Integrated Claims Management (ICM) and Finance Management systems developed and in a process of being deployed. • All senior management positions have been filled and the Fund’s current vacancy rate is at 4.78%. • Collected R431million of debt relating toprior years. Compensation Fund Strategic Plan 2011 - 2016

  8. 2010/11 Strategic Achievements • Total investment increased by R3.9 billion, from R22,660,354 in 2009/10 to R26,563,700 in 2010/11. • Audit qualifications cleared in the following areas: • Bank reconciliation and suspense account. • Accounts payable. • Fixed assets. • Certain COIDA sections to be considered for amendment identified. • From a target of 45%, 211 of 273 (77%) Section 91 objections were finalised within 3 months in 2010/11, as compared to finalising 117 of 327 (35.7%) in 2009/10. Compensation Fund Strategic Plan 2011 - 2016

  9. 2010/11 Strategic Achievements • Participated and contributed to the Interdepartmental Task Team (IDTT) and contributed to social security reform proposals. • Communication strategy developed and intensive COIDA educational campaigns are being conducted in Limpopo, Mpumalanga and Eastern Cape. • Risk management strategy developed and implemented. In partnership with specialist organisations, the Fund made significant achievements in dealing with fraud and corruption. Compensation Fund Strategic Plan 2011 - 2016

  10. CF STRATEGIC PLAN 2011 2016 Compensation Fund Strategic Plan 2011 - 2016

  11. Providing an efficient social safety net Compensation Fund Strategic Plan 2011 - 2016

  12. Providing an efficient social safety net Compensation Fund Strategic Plan 2011 - 2016

  13. Providing professional, efficient & client orientated HR Compensation Fund Strategic Plan 2011 - 2016

  14. Providing professional, efficient & client orientated HR Compensation Fund Strategic Plan 2011 - 2016

  15. Strengthening corporate governance Compensation Fund Strategic Plan 2011 - 2016

  16. Integration of the Fund with comprehensive social security reforms Compensation Fund Strategic Plan 2011 - 2016

  17. Promote policy advocacy Compensation Fund Strategic Plan 2011 - 2016

  18. Improve financial viability Compensation Fund Strategic Plan 2011 - 2016

  19. Improve financial viability Compensation Fund Strategic Plan 2011 - 2016

  20. Improve financial viability Compensation Fund Strategic Plan 2011 - 2016

  21. Improve corporate support and services Compensation Fund Strategic Plan 2011 - 2016

  22. Enhance quality and access to COIDA services and information Compensation Fund Strategic Plan 2011 - 2016

  23. Enhance quality and access to COIDA services and information Compensation Fund Strategic Plan 2011 - 2016

  24. Enhance quality and access to COIDA services and information Compensation Fund Strategic Plan 2011 - 2016

  25. Strengthening corporate governance Compensation Fund Strategic Plan 2011 - 2016

  26. Strengthening corporate governance Compensation Fund Strategic Plan 2011 - 2016

  27. 2011/12 Strategic Priorities • Implementation of the approved organisational structure. • Implementation of the ICM and the FM systems. • Intensify the development and approval of the Rehabilitation, Reintegration and Return to Work Policy Framework. Compensation Fund Strategic Plan 2011 - 2016

  28. 2011/12 Strategic Priorities • Amendment of COID Act. • Continue with COIDA educational campaigns to provide guidance on the Fund’s services. • Improve revenue collection. • Job creation, internship, learnership and invest in socially responsible investments. Compensation Fund Strategic Plan 2011 - 2016

  29. Investments at the PIC • Compensation fund invest the funds through the Asset manager Public Investment Corporation. • The Fund received 8.98% return on investment from April 2010 to December 2010. • The Fund bought investments from the following companies or organisation as at 31 December 2010 Compensation Fund Strategic Plan 2011 - 2016

  30. Investments at the PIC (Continued) Compensation Fund Strategic Plan 2011 - 2016

  31. Summary of financial performance 2009-2011 Compensation Fund Strategic Plan 2011 - 2016

  32. Summary of financial performance 2009-2011 Compensation Fund Strategic Plan 2011 - 2016

  33. Budget Summary for 2011 - 2015 Compensation Fund Strategic Plan 2011 - 2016

  34. Budget Summary for 2011 - 2015 Compensation Fund Strategic Plan 2011 - 2016

  35. Thank you Compensation Fund Strategic Plan 2011 - 2016

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