Assessor Resource

FNSSUP301A
Process superannuation fund payments

Assessment tool

Version 1.0
Issue Date: May 2024


This unit applies to job roles in the superannuation sector.

This unit describes the performance outcomes, skills and knowledge required to process superannuation fund payments and entitlements. It encompasses assessing the validity of requests, compiling necessary documentation, reviewing and evaluating evidence available to support payments, communicate entitlements and finalise transaction.

This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)

Employability Skills

This unit contains employability skills.



Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

follow delegation of authority and assess validity of requests

accurately complete necessary documentation

review and evaluate evidence available in support of payment

communicate entitlement decision and finalise the payment transaction.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to organisation financial records

access to organisation policies and procedures.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency

observing processes and procedures in workplaces

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports

setting and reviewing workplace business simulations or scenarios.

Guidance information for assessment

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Required skills

communication skills to:

liaise with others, share information, confirm work requirements, using questioning and active listening as required

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

perform basic calculations related to fund payments

access and update account records electronically

use internet information

literacy skills to read and interpret documentation from a variety of sources and record and consolidate related information

data analysis and interpretation skills

interpersonal skills to relate effectively within a team environment

organisation skills, including the ability to plan and sequence work

Required knowledge

organisation policy and procedures

computerised superannuation systems and procedures

product terms and conditions

relevant legislation

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Payment requests may come from:

member or beneficiary

the employer.

Payment criteria include:

criteria to measure the legitimacy of a request for payment.

Payments may include investment and insurance components can be made to:

an eligible rollover fund

the member's beneficiary

the relevant member

the trustee or other representative

Payments can occur on:

age entitlement

death

disability

member leaving industry or fund

redundancy

retirement

roll over.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Validity of request is assessed against fund entitlements according to organisation procedures and operational authorities 
Assessment is undertaken in a methodical manner using suitable checklists or similar instruments to ensure accuracy 
Payment requests are classified according to established criteria 
Required evidence is obtained from appropriate parties to confirm that request complies with the fund's conditions of entitlement 
Request is matched to the payment criteria so that validity can be determined 
Required forms and documents are completed and distributed in accordance with legislation, operating policies and procedures, and Trustee instructions 
Available information on the payment request is reviewed against payment criteria to ensure compliance with the terms and conditions of the trust, relevant legislation and operating procedures 
Additional opinion on the validity of the request is sought from relevant parties where necessary 
Eligibility of request for payment is determined according to evaluated evidence 
Unusual requests or those outside relevant guidelines or authorities are referred according to operating procedures 
Level of entitlement is identified based on accurate and up-to-date information and within authority levels and according to operating procedures 
Decision on payment is promptly advised to relevant parties in accordance with trustee instruction, operating procedures and relevant legislation 
Payment details are checked for compliance with legislative and operating guidelines within delegated authority 
Payment and supporting documentation are made according to organisation procedures, relevant legislation and timelines 
Systems are updated and documents filed to ensure all records are maintained 

Forms

Assessment Cover Sheet

FNSSUP301A - Process superannuation fund payments
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSSUP301A - Process superannuation fund payments

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: