This unit applies to job roles that respond to specific enquiries about membership, superannuation procedure options and products.

ELEMENT

PERFORMANCE CRITERIA

1. Establish relationship with client

1.1. Most appropriate method of communication is used to establish the nature of client enquiry

1.2. Client records are accessed as required

1.3. Client is informed of the role of the organisation

1.4. Relationship of the superannuation organisation to other financial services is explained to the client

1.5. The role and limits of authority of the representative are explained to the client

1.6. Clients with special needs are identified and appropriate action taken or referral made

1.7. Client confidentiality is maintained

2. Inform client of the superannuation process

2.1. Government regulations and requirements for superannuation are explained to the client

2.2. Processes and options for fund administration are explained to the client

2.3. The features and benefits of different types of funds are explained to the client

3. Explain superannuation products and options offered by the organisation or a specific fund

3.1. Features, benefits and implications of products offered by the organisation or a specific fund offered by that organisation are explained to the client

3.2. Ancillary benefits and facilities and options available in the organisation or a specific fund offered by that organisation are explained to the client

3.3. Fees and charges associated with the organisation's funds/products are explained to the client

3.4. Procedures for complaint handling and resolution are explained to the client

4. Assist with complex enquiries

4.1. Procedure for and implications of membership changes are explained to the client

4.2. Conditions associated with fund investment options and ancillary benefits and facilities of funds are explained to the client

4.3. Client understanding of conditions and procedures is checked

4.4. Client requests for membership changes are implemented

5. Identify areas of advice outside of authority area

5.1. Limits of authority to provide information to client are identified using organisation guidelines

5.2. Clients requiring advice outside of authority area are identified

5.3. Organisation specialist services resources and/or contacts are identified

5.4. Clients are advised to seek specialist services advice to assist with planning related enquiries and decisions

6. Provide and/or record necessary documentation where required

6.1. Client is provided with organisation information materials according to their information needs

6.2. Other organisation information resources are used to provide product and/or service and/or referral related information to the client if required

6.3. Client records are created and/or updated where necessary

6.4. Client documentation, information and histories are filed in a format and location readily accessible to other appropriate personnel

Required skills

well-developed 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

annuities/pensions, 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 policy/procedures/requirements and complaints handling processes

death benefits processes

dealing with employer and employee contributions

fee structures/administration 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 (e.g. 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 (e.g. good faith, utmost good faith, full disclosure of remuneration/fees)

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 organisations/service 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

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.

Method of communication may include:

email

face-to-face

facsimile

letters

telephone.

Clients refers to:

members of the public

members of the superannuation fund.

Clients with special needs may include:

clients who demonstrate or who indicate that they have complex financial or superannuation needs

clients who have English as a second language

people from different cultural backgrounds

people with a disability

very young or older age groups.

Confidentiality includes:

any requirements under legislation such as:

Consumer Affairs Act

Privacy Act

Consumer Credit Code

industry codes of practice

standards set out in organisation policies and procedures.

Different types of funds may include:

accumulation funds

approved deposit funds

corporate funds

deferred annuities

defined benefit funds

eligible rollover funds

industry funds

public sector funds

retail funds

retirement savings accounts

rollover funds

self-managed superannuation funds

small Australian Prudential Regulation Authority (APRA) funds.

Options available in the organisation may include:

benefit payment options

different contribution levels

insurance options

investment options

minimum contributions.

Membership changes may include change in:

contributions

funds

insurance

personal circumstances

employment conditions.

Planning related enquiries and superannuation decisions may include:

how much to contribute

lost accounts

what level of insurance cover

when and how to change funds

which fund options to take

which fund to join.

Unit sector

Superannuation

This unit contains employability skills.