There's no need to do anything with the camshaft. I have a feeling that you're probably a little noobish on car repair, so are you referring to getting your valves adjusted?

The Timing Belt and water pump are preventative maintenance. Get it done and enjoy peace of mine, or save some money and drive around with the old ones and hope that your engine doesn't get ****ed up because your water pump fails or your belt breaks. Do a search.