Required skills

welldeveloped communication skills to

conduct interview via a range of communication methods such as email telephone fax letters face to face

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 calculations related to superannuation funds

access and update account records electronically

use internet information

data analysis and interpretation skills

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

interpersonal skills to relate effectively within a team environment

organisation skills including the ability to plan and sequence work

relationship building and sales skills

problem solving skills related to superannuation clients needs

learning skills to maintain knowledge of changes to products and relevant legislation

judgement skills for forming recommendations in operational situations

management skills for working effectively in a constantly changing environment

Required knowledge

annuitiespensions allocated pensions and income stream products and associated risks

benefit payments and expenses

Capital Gains Tax CGT treatment

characteristics and structure of a superannuation product

organisation policyproceduresrequirements and complaints handling processes

death benefits processes

dealing with employer and employee contributions

fee structuresadministration and management costs

Financial Services Reform Act FSRA

franking credits

general sales and marketing techniques

impact on investment earnings

investment strategies within superannuation funds

main features of different types of funds

preservation rules

reasonable benefit limits

relevant legal principles eg Corporations Act Australian Securities and Investments Commission ASIC Act Privacy Act

relevant legislation and codes of practice

restrictions on investment strategies

retirement planning strategies

roles played by intermediaries and issuers

rollovers

social security pension eligibility

structure of superannuation plans management and administration of superannuation products

superannuation surcharge

tax deductions

the relationship between ethics and regulatory requirements eg good faith utmost good faith full disclosure of remunerationfees

the role of the representative

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

establish relationship with client and inform them of the superannuation process

refer clients to other organisationsservice providers outside areas of authority

comply with all record and documentation requirements

comply with role and advisory capacity limits

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

Method of communication may include:

Clients refers to:

Clients with special needs may include:

Confidentiality includes:

Different types of funds may include:

Options available in the organisation may include:

Membership changes may include change in:

Planning related enquiries and superannuation decisions may include: