Assessor Resource

FNSSUP314
Process superannuation rollover benefits

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to receive and process superannuation rollover benefits. This involves identification of the types of rollover benefits and the identification and management of errors relating to applications and processing of payments, and compliance with quality assurance procedures.

The unit applies to those who, within their level of authority, apply specialised organisational knowledge and follow defined procedures to process financial information and maintain quality standards.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.

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 at least three different applications for superannuation rollover benefits according to organisational policies and procedures.

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 and regulatory requirements relating to processing superannuation rollover benefits, including privacy legislation

organisational policies, objectives and guidelines relating to processing superannuation rollover benefits, including for:

receiving and documenting applications

identifying and addressing incomplete or incorrect applications

assessing the integrity of information

calculating and processing benefits, including fees and charges

quality assurance procedures and practices

storing documentation relating to processed benefit

issuing benefit payments to fund members, Australian Taxation Office (ATO), and rollover funds

components of a superannuation rollover benefits statement (RBS)

documentation required to process rollover benefit payments and their key components, including:

taxation documentation, including pay as you go (PAYG) payment summaries

trust deeds

content to be included in superannuation rollover benefit statements.

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:

organisational equipment, technology, software and consumables

organisational policies and procedures.

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 at least three different applications for superannuation rollover benefits according to organisational policies and procedures.

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 and regulatory requirements relating to processing superannuation rollover benefits, including privacy legislation

organisational policies, objectives and guidelines relating to processing superannuation rollover benefits, including for:

receiving and documenting applications

identifying and addressing incomplete or incorrect applications

assessing the integrity of information

calculating and processing benefits, including fees and charges

quality assurance procedures and practices

storing documentation relating to processed benefit

issuing benefit payments to fund members, Australian Taxation Office (ATO), and rollover funds

components of a superannuation rollover benefits statement (RBS)

documentation required to process rollover benefit payments and their key components, including:

taxation documentation, including pay as you go (PAYG) payment summaries

trust deeds

content to be included in superannuation rollover benefit statements.

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:

organisational equipment, technology, software and consumables

organisational policies and procedures.

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
Receive application for benefit payment according to legislative and regulatory requirements and organisational policies and procedures 
Check that application and accompanying documents are complete and correct 
Take action on incomplete or incorrect applications according to organisational policies and procedures and within limits of own responsibility 
Source additional information from members and employers as required 
Prepare application for processing when required information is obtained 
Calculate benefit to include additional fees, charges and other factors according to organisational policies and procedures 
Check results of calculation and accuracy of data 
Forward processed application to required personnel for checking 
Correct identified irregularities and communicate to required personnel 
Action remaining application processes according to conditions identified in organisational policies and procedures and quality assurance requirements 
Prepare benefit payment documentation and funds for submission to members, Australian Taxation Office (ATO) and rollover funds, as required 
Store documentation relating to processed benefit and maintain member documentation according to organisational policies and procedures 

Forms

Assessment Cover Sheet

FNSSUP314 - Process superannuation rollover benefits
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

FNSSUP314 - Process superannuation rollover benefits

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: