This unit applies to job roles in the superannuation sector.

ELEMENT

PERFORMANCE CRITERIA

1. Assess validity of request

1.1. Validity of request is assessed against fund entitlements according to organisation procedures and operational authorities

1.2. Assessment is undertaken in a methodical manner using suitable checklists or similar instruments to ensure accuracy

2. Compile necessary documentation

2.1. Payment requests are classified according to established criteria

2.2. Required evidence is obtained from appropriate parties to confirm that request complies with the fund's conditions of entitlement

2.3. Request is matched to the payment criteria so that validity can be determined

2.4. Required forms and documents are completed and distributed in accordance with legislation, operating policies and procedures, and Trustee instructions

3. Review and evaluate evidence available in support of payment

3.1. Available information on the payment request is reviewed against payment criteria to ensure compliance with the terms and conditions of the trust, relevant legislation and operating procedures

3.2. Additional opinion on the validity of the request is sought from relevant parties where necessary

3.3. Eligibility of request for payment is determined according to evaluated evidence

3.4. Unusual requests or those outside relevant guidelines or authorities are referred according to operating procedures

4. Communicate entitlement

4.1. Level of entitlement is identified based on accurate and up-to-date information and within authority levels and according to operating procedures

4.2. Decision on payment is promptly advised to relevant parties in accordance with trustee instruction, operating procedures and relevant legislation

5. Finalise payment transaction

5.1. Payment details are checked for compliance with legislative and operating guidelines within delegated authority

5.2. Payment and supporting documentation are made according to organisation procedures, relevant legislation and timelines

5.3. Systems are updated and documents filed to ensure all records are maintained

Required skills

communication skills to:

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 basic calculations related to fund payments

access and update account records electronically

use internet information

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

data analysis and interpretation skills

interpersonal skills to relate effectively within a team environment

organisation skills, including the ability to plan and sequence work

Required knowledge

organisation policy and procedures

computerised superannuation systems and procedures

product terms and conditions

relevant legislation

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:

follow delegation of authority and assess validity of requests

accurately complete necessary documentation

review and evaluate evidence available in support of payment

communicate entitlement decision and finalise the payment transaction.

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

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Payment requests may come from:

member or beneficiary

the employer.

Payment criteria include:

criteria to measure the legitimacy of a request for payment.

Payments may include investment and insurance components can be made to:

an eligible rollover fund

the member's beneficiary

the relevant member

the trustee or other representative

Payments can occur on:

age entitlement

death

disability

member leaving industry or fund

redundancy

retirement

roll over.

Unit sector

Superannuation

This unit contains employability skills.