Financial Literacy L3 Programme - MCAST

1. MCAST MQF Level 3 Award in
Financial Literacy & MQF Level 4
Award in Benefits Management
22/11/2018
Ramon Mangion
Curriculum Manager
ESF2.063 Project Liaison

2. Scope (i)
• MCAST’s role is related to the following work
packages
• Work Package 2 : Financial Literacy Education,
Awareness and Pilot Project.
• Work Package 4: Enhancing the Social Security Services
Support Measure.

3. Scope (ii)
Design Develop Accredit Deliver
MQF Level 3 Award
in Financial Literacy
MQF Level 4 Award
in Benefits
Management

4. Design
• Discussions with MFCS
• Consultation with Experts
• Award design in terms of
• MQF Level
• ECVET Value
• Hours
• Structure
• Units of Learning Outcomes

5. Develop
• Engagement of Unit writers/experts to develop the
units for each course.
• Units developed based on the principles of learning
outcomes and as per national and MCAST
accreditation standards.
• Drafts were sent for feedback by the parties
involved.
• Collaboration with MFCS, Department for Social
Security and Commission for Financial Literacy and
Retirement Education.

6. Accredit
• MCAST is a Self Accrediting Institution for courses up
to MQF Level 7 as per the provisions within the
Education Act
• Overall Accreditation covers the following:
• Review of Learning Outcomes as expressed in Knowledge,
Skills and Competences and comparison with MQF level
descriptors.
• Fitness for purpose of assessment methods.
• Review of assessment criteria.
• Overall quality review.
• Provision of accreditation related feedback.

7. Delivery-Targets
• Engagement of lecturers
• Targets
• MQF Level 3 Award in Financial Literacy- 20 classes in
Malta and 4 classes in Gozo
• MQF Level 4 Award in benefits Management- 4 classes
in Malta and 1 in Gozo
• Recruitment of learners handled by MFCS
• Formal registration handled by MCAST

8. Delivery-Logistics & Practical Aspects
• Delivery of programmes developed as per project
requirements.
• Carrying out assessments to verify that learning
outcomes were achieved.
• Internal Verification of assessment tasks and
assessment results to ensure quality ,consistency,
fairness and transparency.
• Obtaining feedback from participants

9. Delivery-Teaching Approach-
Principles of Andragogy (Knowles 1984)
Involved
Adult
Learners
Adult
Learners’
Experience
Relevance
and Impact to
Learners’ lives
Problem
Centered

10. MQF Level 3 Award in Financial Literacy
(6 ECVET)
MQF Level 3
Award in
Financial
Literacy
Managing Money
30 contact hours
3 ECVET
Investment &
Personal Finance
Planning
30 contact hours
3 ECVET

11. Target Audience
• Employees at FSWS, Aġenzija Sapport, CRPD,
Department for Social Security;
• Teachers and LSAs from the Home Economics
Seminar Centre & Dun Manwel Attard Resource
Centre;
• Teachers and Staff from the Directorate for Lifelong
Learning;
• Employees / members of registered Voluntary
Organisations.

12. Overall Areas Covered
• Goal setting
• Personal budget
• Savings and Cash Management
• Borrowing Sensibly
• Managing Spending
• Saving
• Dealing with Debt
• Planning for Future
• Maximising income and earning
power
MQF Level 3
Award in
Financial
Literacy

13. MQF Level 4 Award in Benefits Management
(12 ECVET)
MQF Level 4
Award in
Benefits
Management
Economic &
Government
Influences
40 contact hours
4 ECVET
Managing Money
20 contact hours
2 ECVET
Investment &
Personal Planning
30 contact hours
3 ECVET
Employment & HR
Development
30 contact hours
3 ECVET
Target Audience
• DSS
Employees

14. Target Audience
• DSS Employees
• Staff from servizz.gov

15. Overall Areas Covered
• Social Security Law
• Contributory Benefits
• Non Contributory Benefits
• Technical aspects of
jurisprudence and benefit
calculation
• Account Management
• Choosing Investments
• Retirement Planning
• Coaching
• Soft Skills
MQF Level 4
Award in
Benefits
Management

16. Status
• Developed both courses.
• Completed delivery of 1 pilot class for the MQF Level 3
Award in Financial Literacy.
• Certification to be issued
• Delivery in progress of 1 pilot class for the MQF Level 4
Award in Benefits Management.
• Feedback by Lecturers is being received so that
improvements can be done following the pilot classes.
• More classes planned for 2019 in line with project
objectives.
• Positive feedback received from lecturers, who are also
learning from the experience.