Assessor Resource
FNSSUP403A
Administer retirement income streams
Assessment tool
Version 1.0
Issue Date: April 2024
This unit applies to job roles administering retirement income streams in organisations managing superannuation fund or life assurance or in other financial institutions.
This unit describes the performance outcomes, skills and knowledge required to administer retirement income streams. It encompasses the explanation and identification of retirement income stream features, processes for the purchase of retirement income streams, processing of income benefits, ability to maintain documentation and records, processing of commutations, responding to member enquiries regarding retirement income and the ability to follow quality assurance procedures.
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).
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