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Evidence Guide: FNSSUP301 - Process superannuation fund payments

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

FNSSUP301 - Process superannuation fund payments

What evidence can you provide to prove your understanding of each of the following citeria?

Assess validity of request

  1. Assess validity of request against fund entitlements according to organisational procedures and operational authorities
  2. Undertake assessment in methodical manner using suitable checklists or similar instruments to ensure accuracy
Assess validity of request against fund entitlements according to organisational procedures and operational authorities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Compile necessary documentation

  1. Classify payment requests from member or beneficiary or employer according to established criteria
  2. 2.2 Obtain required evidence from appropriate parties to confirm that request complies with fund's conditions of entitlement
  3. Match request to payment criteria so validity can be determined
  4. Complete required forms and documents and distribute in accordance with legislation, operating policy and procedures, and trustee instructions
Classify payment requests from member or beneficiary or employer according to established criteria

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Match request to payment criteria so validity can be determined

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review and evaluate evidence available in support of payment

  1. Review available information on payment request against payment criteria to ensure compliance with terms and conditions of trust, relevant legislation and operating procedures
  2. Obtain additional opinion on validity of request from relevant parties where necessary
  3. Determine eligibility of request for payment according to evaluated evidence
  4. Refer unusual requests or those outside relevant guidelines or authorities according to operating procedures
Review available information on payment request against payment criteria to ensure compliance with terms and conditions of trust, relevant legislation and operating procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine eligibility of request for payment according to evaluated evidence

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Communicate entitlement

  1. Identify level of entitlement based on accurate and up-to-date information, within authority levels and according to operating procedures
  2. Promptly advise decision on payment to relevant parties in accordance with trustee instruction, operating procedures and relevant legislation
Identify level of entitlement based on accurate and up-to-date information, within authority levels and according to operating procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Finalise payment transaction

  1. Check payment details for compliance with legislative and operating guidelines within delegated authority
  2. Make payment and complete supporting documentation according to organisational procedures, relevant legislation and timelines
  3. Update systems and file documents to ensure all records are maintained
Check payment details for compliance with legislative and operating guidelines within delegated authority

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Update systems and file documents to ensure all records are maintained

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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

Required Skills and Knowledge

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.