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

FNSSUP416 Mapping and Delivery Guide
Establish and maintain superannuation accumulation funds

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSSUP416 - Establish and maintain superannuation accumulation funds
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to establish and maintain a superannuation accumulation fund for a member. It involves interpreting fund details, seeking specialist advice when necessary, establishing systems and administrative procedures to meet requirements, creating client records and updating fund details.The unit applies to those who, within their level of authority, apply specialised industry and organisational knowledge and follow defined procedures to process and update information.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.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

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.
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: Interpret superannuation accumulation fund details
  • Obtain client instructions
  • Establish fund according to instructions provided, trust deed and required regulations
  • Clarify information on new fund as required and ensure details are consistent with client requirements
  • Obtain specialist advice and ensure comprehensive technical information is available when required
  • Establish new client data in required format and within required timeframes, according to organisational policies and procedures
  • Regularly review and validate system data against client instructions
  • Identify and update fund details as required and according to organisational policies and procedures
  • Amend fund documents and trust deeds according to updated design specifications and in compliance with legislative and client requirements
  • Update and validate system processes to reflect changes in benefits, preserved amounts and other government changes
  • Update operational procedures, policies and operating guidelines relating to establishing superannuation funds as required
  • Communicate changes to fund details to members
       


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:

establish and update superannuation accumulation fund details for at least three different clients

seek specialist advice in relation to at least one of the above client’s requirements.

In the course of the above, the candidate must:

interpret fund details relevant to fund establishment.

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 establishing and maintaining superannuation accumulation funds, including for providing factual information or general advice in superannuation

organisational policies and procedures relating to establishing and maintaining funds, including for:

using organisational systems

seeking further information on fund details

seeking specialist advice

updating fund details

key features of trust deeds for superannuation funds

information required to set up new superannuation funds and issues to consider

difference between providing factual information, general advice and personal advice in superannuation.

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.
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
Obtain client instructions 
Establish fund according to instructions provided, trust deed and required regulations 
Clarify information on new fund as required and ensure details are consistent with client requirements 
Obtain specialist advice and ensure comprehensive technical information is available when required 
Establish new client data in required format and within required timeframes, according to organisational policies and procedures 
Regularly review and validate system data against client instructions 
Identify and update fund details as required and according to organisational policies and procedures 
Amend fund documents and trust deeds according to updated design specifications and in compliance with legislative and client requirements 
Update and validate system processes to reflect changes in benefits, preserved amounts and other government changes 
Update operational procedures, policies and operating guidelines relating to establishing superannuation funds as required 
Communicate changes to fund details to members 

Forms

Assessment Cover Sheet

FNSSUP416 - Establish and maintain superannuation accumulation funds
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

FNSSUP416 - Establish and maintain superannuation accumulation funds

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: