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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Receive contributions and rollovers, and process
   • Establish new accounts as required and according to organisational policies and procedures, and check for eligibility
   • Obtain and review contributions and rollovers according to organisational policies and procedures
   • Identify contribution and rollover sources and types
   • Identify potential errors in processing contributions and rollovers
   • Process contributions and rollovers where there are no errors, according to fund guidelines
2. Manage errors and non-completions
   • Review and return documentation according to organisational policies and procedures, and seek required information where errors in contributions and documentation have been identified
   • Action incomplete and incorrect contributions and rollovers according to fund guidelines
   • Obtain required information, reconcile and process incomplete and incorrect contributions and rollovers
3. Allocate contributions and rollovers according to type
   • Prepare reconciled contributions and rollovers for allocation into accounts according to organisational policies and procedures
   • Allocate contributions and rollovers according to member requirements and organisational policies and procedures
   • Complete documentation and processing according to fund requirements and organisational policies and procedures
4. Issue receipt or confirmation for contributions and rollovers according to fund guidelines
   • Generate receipt and confirmation for contributions and rollovers according to fund guidelines
   • Check receipt and confirmation against member records according to fund guidelines
   • Send receipt and confirmation to member according to organisational policies and procedures

Performance Evidence

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 contributions into self-managed superannuation funds for at least three clients

process rollovers into self-managed superannuation funds for at least three clients.

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Knowledge Evidence

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 self-managed superannuation contributions and rollovers, including:

privacy legislation and data protection laws, and their application

preservation rules before and after July 1999

fund policy, investment objectives and guidelines

organisational policies and procedures relating to:

establishing new accounts

obtaining contributions and rollovers, including via post, person, telephone and electronic format

reviewing, completing and processing member documentation

calculating and processing benefits

communicating processing information to members

types and sources of superannuation contributions and rollovers

documentation requirements of superannuation contributions and rollovers

consequences of incorrect allocation of member contributions

key components of fund requirements relevant to processing contributions

contributions caps, in the context of checking that contributions are within legal limits

methods for identifying potential errors in processing contributions and rollovers

components of a superannuation rollover

factors that may require further investigation in regard to superannuation contributions.

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