Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSSUP301 Mapping and Delivery Guide
Process superannuation fund payments

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSSUP301 - Process superannuation fund payments
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to process superannuation fund payments and entitlements.It applies to individuals who, within their level of authority, apply specialised organisational knowledge and follow defined procedures to administer and process financial information.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the superannuation field of work and include access to:

common office equipment, technology, software and consumables

organisational financial records

organisational policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Assess validity of request
  • Assess validity of request against fund entitlements according to organisational procedures and operational authorities
  • Undertake assessment in methodical manner using suitable checklists or similar instruments to ensure accuracy
       
Element: Compile necessary documentation
  • Classify payment requests from member or beneficiary or employer according to established criteria
  • 2.2 Obtain required evidence from appropriate parties to confirm that request complies with fund's conditions of entitlement
  • Match request to payment criteria so validity can be determined
  • Complete required forms and documents and distribute in accordance with legislation, operating policy and procedures, and trustee instructions
       
Element: Review and evaluate evidence available in support of payment
  • Review available information on payment request against payment criteria to ensure compliance with terms and conditions of trust, relevant legislation and operating procedures
  • Obtain additional opinion on validity of request from relevant parties where necessary
  • Determine eligibility of request for payment according to evaluated evidence
  • Refer unusual requests or those outside relevant guidelines or authorities according to operating procedures
       
Element: Communicate entitlement
  • Identify level of entitlement based on accurate and up-to-date information, within authority levels and according to operating procedures
  • Promptly advise decision on payment to relevant parties in accordance with trustee instruction, operating procedures and relevant legislation
       
Element: Finalise payment transaction
  • Check payment details for compliance with legislative and operating guidelines within delegated authority
  • Make payment and complete supporting documentation according to organisational procedures, relevant legislation and timelines
  • Update systems and file documents to ensure all records are maintained
       


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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Assess validity of request

1.1 Assess validity of request against fund entitlements according to organisational procedures and operational authorities

1.2 Undertake assessment in methodical manner using suitable checklists or similar instruments to ensure accuracy

2. Compile necessary documentation

2.1 Classify payment requests from member or beneficiary or employer according to established criteria

2.2 Obtain required evidence from appropriate parties to confirm that request complies with fund's conditions of entitlement

2.3 Match request to payment criteria so validity can be determined

2.4 Complete required forms and documents and distribute in accordance with legislation, operating policy and procedures, and trustee instructions

3. Review and evaluate evidence available in support of payment

3.1 Review available information on payment request against payment criteria to ensure compliance with terms and conditions of trust, relevant legislation and operating procedures

3.2 Obtain additional opinion on validity of request from relevant parties where necessary

3.3 Determine eligibility of request for payment according to evaluated evidence

3.4 Refer unusual requests or those outside relevant guidelines or authorities according to operating procedures

4. Communicate entitlement

4.1 Identify level of entitlement based on accurate and up-to-date information, within authority levels and according to operating procedures

4.2 Promptly advise decision on payment to relevant parties in accordance with trustee instruction, operating procedures and relevant legislation

5. Finalise payment transaction

5.1 Check payment details for compliance with legislative and operating guidelines within delegated authority

5.2 Make payment and complete supporting documentation according to organisational procedures, relevant legislation and timelines

5.3 Update systems and file documents to ensure all records are maintained

Evidence of the ability to:

follow delegation of authority and assess validity of requests

accurately complete necessary documentation

review and evaluate evidence available in support of payment

communicate the entitlement decision and finalise the payment transaction.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

describe the key features of organisational policy and procedures relating to the processing of superannuation fund payments

describe the conditions under which investment and insurance payments can be made

describe the key features of computerised superannuation systems and procedures

list and describe the key product terms and conditions

outline aspects of relevant legislation impacting on the processing of superannuation fund payments.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, 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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Assess validity of request

1.1 Assess validity of request against fund entitlements according to organisational procedures and operational authorities

1.2 Undertake assessment in methodical manner using suitable checklists or similar instruments to ensure accuracy

2. Compile necessary documentation

2.1 Classify payment requests from member or beneficiary or employer according to established criteria

2.2 Obtain required evidence from appropriate parties to confirm that request complies with fund's conditions of entitlement

2.3 Match request to payment criteria so validity can be determined

2.4 Complete required forms and documents and distribute in accordance with legislation, operating policy and procedures, and trustee instructions

3. Review and evaluate evidence available in support of payment

3.1 Review available information on payment request against payment criteria to ensure compliance with terms and conditions of trust, relevant legislation and operating procedures

3.2 Obtain additional opinion on validity of request from relevant parties where necessary

3.3 Determine eligibility of request for payment according to evaluated evidence

3.4 Refer unusual requests or those outside relevant guidelines or authorities according to operating procedures

4. Communicate entitlement

4.1 Identify level of entitlement based on accurate and up-to-date information, within authority levels and according to operating procedures

4.2 Promptly advise decision on payment to relevant parties in accordance with trustee instruction, operating procedures and relevant legislation

5. Finalise payment transaction

5.1 Check payment details for compliance with legislative and operating guidelines within delegated authority

5.2 Make payment and complete supporting documentation according to organisational procedures, relevant legislation and timelines

5.3 Update systems and file documents to ensure all records are maintained

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
Assess validity of request against fund entitlements according to organisational procedures and operational authorities 
Undertake assessment in methodical manner using suitable checklists or similar instruments to ensure accuracy 
Classify payment requests from member or beneficiary or employer according to established criteria 
2.2 Obtain required evidence from appropriate parties to confirm that request complies with fund's conditions of entitlement 
Match request to payment criteria so validity can be determined 
Complete required forms and documents and distribute in accordance with legislation, operating policy and procedures, and trustee instructions 
Review available information on payment request against payment criteria to ensure compliance with terms and conditions of trust, relevant legislation and operating procedures 
Obtain additional opinion on validity of request from relevant parties where necessary 
Determine eligibility of request for payment according to evaluated evidence 
Refer unusual requests or those outside relevant guidelines or authorities according to operating procedures 
Identify level of entitlement based on accurate and up-to-date information, within authority levels and according to operating procedures 
Promptly advise decision on payment to relevant parties in accordance with trustee instruction, operating procedures and relevant legislation 
Check payment details for compliance with legislative and operating guidelines within delegated authority 
Make payment and complete supporting documentation according to organisational procedures, relevant legislation and timelines 
Update systems and file documents to ensure all records are maintained 

Forms

Assessment Cover Sheet

FNSSUP301 - 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

FNSSUP301 - 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: