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Evidence Guide: FNSSUP302A - Establish, maintain and process superannuation records

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

 

FNSSUP302A - Establish, maintain and process superannuation records

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

Set up new member records for individuals

  1. Information required to set up new member file is collected
  2. Information is checked to ensure it is complete and correct
  3. Data is entered into organisational information system
  4. New member record is activated
  5. Confirmation is sent according to organisational guidelines
  6. New and additional information is accurately updated within organisational guidelines
Information required to set up new member file is collected

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Information is checked to ensure it is complete and correct

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Data is entered into organisational information system

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

New member record is activated

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirmation is sent according to organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

New and additional information is accurately updated within organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Set up new employer records as required

  1. Information required to set up new employer record is collected
  2. Information is checked to ensure it is complete and correct
  3. Data is entered into organisational information system
  4. New employer record is activated
  5. Confirmation is sent according to organisational guidelines
Information required to set up new employer record is collected

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Information is checked to ensure it is complete and correct

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Data is entered into organisational information system

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

New employer record is activated

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirmation is sent according to organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain integrity of records

  1. All transactions are correctly reflected in records
  2. Inconsistencies are identified and acted upon
  3. Records are up-dated as new information is received
  4. Enquiries and communications are added to records
  5. Confirmation is sent according to organisational guidelines
All transactions are correctly reflected in records

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Inconsistencies are identified and acted upon

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Records are up-dated as new information is received

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Enquiries and communications are added to records

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirmation is sent according to organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify administrative and accounting processes documented in member records

  1. Process of determining interest is identified
  2. Factors influencing interest are identified
  3. Administrative charges and insurance premiums are identified on records
  4. Processes of allocating interest, charges and insurance premiums to member accounts are described to the customer
  5. Members are provided with information regarding their records as required and according to organisational guidelines
Process of determining interest is identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Factors influencing interest are identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Administrative charges and insurance premiums are identified on records

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Processes of allocating interest, charges and insurance premiums to member accounts are described to the customer

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Members are provided with information regarding their records as required and according to organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Describe elements of annual statements and calculation processes

  1. Elements of annual statements are identified and understood
  2. Statements are reproduced as required and according to organisational guidelines
Elements of annual statements are identified and understood

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Statements are reproduced as required and according to organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Follow quality assurance procedures

  1. Organisational procedures are followed
  2. Member/employer details are established and maintained in accordance with organisational requirements
  3. Consequences of incorrect information are identified and corrected
Organisational procedures are followed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Member/employer details are established and maintained in accordance with organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consequences of incorrect information are identified and corrected

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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:

set up new member records without errors or omissions

set up new employer records

enter data onto organisation information system

maintain integrity of organisational records

demonstrate knowledge of administrative and accounting practices utilised in members records

demonstrate knowledge and understanding of the annual statement and calculation processes.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services 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 office equipment, technology, software and consumables

access to financial services product information

access to information about a workplace 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 units of competency

observing processes and procedure 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

Required Skills and Knowledge

Required skills

communication skills to:

use questioning and active listening to gather and check information

liaise and share information with others

communicate appropriately with people from diverse backgrounds

numeracy skills to:

interpret numeric data and from this perform calculations related to achieving required outcomes

IT skills to:

use computer applications (word processing, spreadsheet, database, specific purpose computer systems)

access and update records electronically

reading skills to:

read and understand relevant procedures

read and interpret applications and supporting documentation

writing skills to:

accurately record information

prepare professional letters and emails

organisational skills to efficiently plan and sequence work

problem solving skills to address inaccuracies and omissions in applications

analytical skills to effectively analyse information and data.

Required knowledge

company policies, procedures, objectives and guidelines

superannuation fund structures

available products and services

fund rules

guiding principles of the Privacy Act

fraud deterrence practices

information technology system procedures for documentation

organisational information, documentation and communication systems.

Range Statement

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.

Inconsistencies may include:

personal details do not correspond

employer details do not correspond

contribution details do not correspond

contribution changes

employment changes

applicant is not eligible to apply

current forms are not used

Superannuation records may include the following details:

personal details

employment details

member categories (eg spouse account)

employer/member contribution balances

preservation categories

historical information

Rollover Benefit Statement (RBS) categories

funds allocation requirements

other special circumstances

transaction details (eg changes in member investment choices or insurance choices)

insurance categories

investment choice categories

beneficiaries

Factors influencing interest allocation may include:

government regulation

investment performance

fund rules

Organisational procedures may include:

system/computer procedures

best practice standards

regulatory requirements

internal communications

internal service level agreements

codes of practice

documentation and filing procedures