PERFORMANCE REVIEW SUMMARY
2004
CORPORATE
PERFORMANCE RATING SCALE
LEVEL
5
PERCENTAGE
112 – 120 %
4
104 – 112 %
3
96 – 104 %
2
88 – 96 %
1
N/A
80 – 88 %
Not Applicable
DESCRIPTION
EXCEPTIONAL
The position holder is regarded as
a unique contributor
SUPERIOR
Exceeds performance
expectations
COMPETENT
Copes with the position as
expected
LEARNING
Some aspect of performance
needs improvement
INADEQUATE PERFORMANCE
Use this when you are completely
unsighted on a particular measure
SUMMARY
OUTPUT
WEIGHT %
PERFORMANCE %
COLLECTED FUNDS
25
110
WEIGHTED
PERFORMANCE
27.50
PAID BENEFITS
10
100
10.00
INVESTED FUNDS
10
97
9.70
MAINTAINED LEGAL ENVIRONMENT
10
102.5
10.25
STATUTORY DOCUMENTS
5
105
5.25
MEMBER DOCUMENTS
5
102.5
5.12
ORGANISATIONAL IMAGE
8
106
8.48
PUBLICITY CAMPAIGNS
7
80
5.60
BOARD REPORTS
5
100
5.00
CONTROLLED EXPENDITURE
15
105
15.75
OVERALL PERFORMANCE
102.65
OUTPUTS WITH RATINGS AGAINST CRITERIA
1.
COLLECTED FUNDS
Definition: Income received from employers either received directly or collected
through compliance activities and banked during the period 1 January 2004 to 31st
December 2004
Weight: 25%
Criterion
% registered employers
% payment on time
Funds banked
Supporting information
Compliance action
Cost of collection
Total income
80%
Performance Level
90% 100% 110%
√
120%
Comment
Require more accurate data
Change criterion 2005
√
Require more accurate data
√
√
Require more detailed data
√
Performance = 110%
2.
PAID BENEFITS
Definition: Appropriate benefits paid to qualifying members and beneficiaries
according to prescribed rules
Weight:10%
Criterion
NPF posting period
NAPSA posting period
Accuracy of payments
Customer service
80%
Performance Level
90% 100% 110%
√
√
√
√
120%
Comment
Refine criteria
Refine criteria
Change criteria
Refine objective at corporate level
Performance = 100%
3.
INVESTED FUNDS
Definition: Funds invested in accordance with decisions of the investment committee
to achieve optimum return.
Weight: 10%
Criterion
Investment income Kb
Investment decision time
Income=inflation rate+
80%
Performance Level
90% 100% 110%
√
√
120%
√
Comment
Review criterion
Change criterion
Broaden criteria
Refine output
Performance = 97%
4.
MAINTAINED LEGAL ENVIRONMENT
Definition: Legal status of the organization maintained. Legal provisions of the Act
enforced. Legally required payments calculated, recorded and delivered. These include:
Income tax on employees, Value Added tax, etc. Suppliers of goods and services paid in
accordance with agreements.
Weight: 10%
Performance Level
Criterion
80% 90%
Timeliness,
√
accuracy
Supplier payments
Claims against
√
NAPSA
Tax returns
Legal claim success
Staff integrity
Staff awareness of
law
Legal
professionalism
100%
110%
120%
Comment
Change criterion
√
Rewrite criterion KS+ LC
V
√
√
√
√
Need measurement
Add “DEFENDED LONG
STANDING CASES”
Performance = 102.5%
5.
STATUTORY DOCUMENTS
Definition: Legally required documents compiled and delivered. These include:
Statutory (audited) financial statements, actuarial and statistical reports on economic
and demographic trends in relation to the pension industry to inform or assist in decisionmaking.
Weight: 5%
Performance Level
Criterion
80%
Timeliness
Accuracy
Currency of information
Relevance
Use of standard formats
Completeness
Legal conformity
Within fee structure
90%
√
100%
110%
120%
Comment
√
√
Clarify criterion
√
√
√
√
√
Performance = 105%
6.
MEMBER DOCUMENTS
Definition: Statements of contributions made by members compiled and
delivered. Membership cards supplied.
Weight: 5%
Performance Level
Criterion
80%
Cost of production
Timeliness
Accuracy
Comprehensibility
Time to issue/replace √
Chance of fraud
90%
100%
110%
√
120%
Comment
√
√
√
√
Review criteria
Performance = 102.5%
7.
ORGANISATIONAL IMAGE
Definition: An image of NAPSA and the Pension Fund scheme created through
publicity and contact with entities and individuals.
Weight: 8%
Criterion
Perceptions of
honesty
Nature of publicity
Social responsibility
Customer
satisfaction
Overall perception
80%
Performance Level
90% 100% 110% 120%
√
Comment
√
√
√
√
Require scientific measurement of
criteria
Performance = 106%
8.
PUBLICITY CAMPAIGNS
Definition: Campaigns designed to educate and influence individuals and
entities in the benefits of the fund. Campaigns designed to educate members and
employers in their rights and responsibilities in relation to the fund.
Weight: 7%
Performance Level
Criterion
80%
Registration of attendees √
Correct return forms
√
Attendance
√
Informative/ interesting
√
Use of media
√
Focus of message
√
Cost benefit
√
Performance = 80%
90%
100%
110%
120%
Comment
9.
BOARD REPORTS
Definition: Reports on the activities of the Authority compiled from
scheduled Director reports, special reports and ad-hoc reports and
designed to provide information on the progress of the Authority.
Weight: 5%
Performance Level
Criterion
Clarity/timeliness
Conformity to reporting standards
Relevance
Storage
User satisfaction
Follow up
80%
90%
100%
√
√
√
√
√
√
110%
120%
Comment
Performance = 100%
10.
CONTROLLED EXPENDITURE
Definition: Total expenditure (1 January 2004 – 31 December 2004) contained
within predefined boundaries through prudent management, observation,
monitoring and appropriate action.
Weight: 15%
Performance Level
Criterion
80%
Recurrent expenditure
Capital expenditure
Performance = 115%
90%
100%
110%
√
120%
√
Comment