Assessor Resource

FNSSUP311
Process superannuation fund payments

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to process superannuation fund payments in accordance with organisational policies and procedures.

The unit applies to those who, within their level of responsibility, apply specialised organisational knowledge and follow defined procedures to administer and process financial information.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

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


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 candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

process superannuation fund payments for at least three different clients.

In the course of the above, the candidate must:

follow delegation of authority and assess validity of requests and sufficiency and suitability of evidence provided in support of payment

comply with legislative requirements, organisational policies and procedures, trustee instructions, and fund conditions of entitlement in processing and recording payments and advising of entitlement decisions.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative requirements relating to the processing of superannuation fund payments

organisational policies and procedures relating to processing superannuation fund payments, including:

obtaining and reviewing evidence

determining eligibility of superannuation payment requests

referring unusual or non-compliant payment requests to authorities

identifying levels of entitlement to apply to requests

communicating with trustees and members

communicating with external stakeholders

making superannuation fund payments

completing and filing documentation

updating organisational systems

key components of trustee instructions and terms of the associated trusts

key features and functions of computerised superannuation systems and procedures

terms and conditions relating to key products involved in processing superannuation fund payments

fund conditions of entitlement, including conditions under which investment and insurance payments can be made.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

documentation and information required to process superannuation fund payments, including organisational policies and procedures

organisational equipment, technology, software and consumables.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

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.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

process superannuation fund payments for at least three different clients.

In the course of the above, the candidate must:

follow delegation of authority and assess validity of requests and sufficiency and suitability of evidence provided in support of payment

comply with legislative requirements, organisational policies and procedures, trustee instructions, and fund conditions of entitlement in processing and recording payments and advising of entitlement decisions.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative requirements relating to the processing of superannuation fund payments

organisational policies and procedures relating to processing superannuation fund payments, including:

obtaining and reviewing evidence

determining eligibility of superannuation payment requests

referring unusual or non-compliant payment requests to authorities

identifying levels of entitlement to apply to requests

communicating with trustees and members

communicating with external stakeholders

making superannuation fund payments

completing and filing documentation

updating organisational systems

key components of trustee instructions and terms of the associated trusts

key features and functions of computerised superannuation systems and procedures

terms and conditions relating to key products involved in processing superannuation fund payments

fund conditions of entitlement, including conditions under which investment and insurance payments can be made.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

documentation and information required to process superannuation fund payments, including organisational policies and procedures

organisational equipment, technology, software and consumables.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
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
Identify payment request and trustee instructions 
Obtain and review evidence from required stakeholders relating to request according to organisational procedures 
Determine validity of request for payment according to evidence provided from relevant parties 
Review request and determine its eligibility against fund conditions of entitlement, terms of the trust, payment criteria, and legislative and organisational requirements 
Obtain additional opinion on validity of request from required stakeholders where required 
Refer unusual requests or those not complying with relevant guidelines or authorities according to organisational procedures 
Complete required documentation and distribute according to legislative and organisational requirements, and trustee instructions 
Determine level of entitlement based on accurate and up-to-date information and own authority levels, and according to organisational policies and procedures 
Advise relevant parties of entitlement decision according to trustee instructions, legislative requirements and organisational policies and procedures 
Identify and distribute required documentation to member, beneficiary or employer, as applicable and according to organisational policies and procedures 
Check payment details for compliance with legislative and organisational guidelines according to level of own delegated authority 
Make payment and complete supporting documentation according to legislative requirements and organisational policies and procedures 
Update systems and file support documentation according to organisational policies and procedures 

Forms

Assessment Cover Sheet

FNSSUP311 - 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

FNSSUP311 - 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: