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Evidence Guide: FNSSUP303 - Process superannuation contributions

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

 

FNSSUP303 - Process superannuation contributions

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

Identify types of contributions and their processes

  1. Identify and record contribution types and sources
  2. Identify potential errors in processing contribution types
Identify and record contribution types and sources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify potential errors in processing contribution types

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Receive superannuation contributions

  1. Establish new accounts and check for eligibility
  2. Receive and check superannuation contributions and accompanying documents to ensure information is complete and correct
  3. Issue contribution receipt according to organisational procedures and regulatory requirements
  4. File documentation according to organisational procedures
  5. Process contributions for banking according to organisational procedures
Establish new accounts and check for eligibility

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Receive and check superannuation contributions and accompanying documents to ensure information is complete and correct

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Issue contribution receipt according to organisational procedures and regulatory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

File documentation according to organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process contributions for banking according to organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Receive rollover benefit statements (RBSs)

  1. Check RBSs received against eligibility requirements
  2. Check documentation is complete and process accordingly
Check RBSs received against eligibility requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check documentation is complete and process accordingly

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and manage contribution and RBS errors or incompletions

  1. Identify errors in contributions and/or documentation
  2. Return documentation or obtain required information to rectify errors or omissions
  3. Send employer contribution reminders as required
  4. Action incomplete or incorrect contributions according to organisational requirements
  5. Reconcile incomplete or incorrect contributions and process when required information is obtained
Identify errors in contributions and/or documentation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Return documentation or obtain required information to rectify errors or omissions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Send employer contribution reminders as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Action incomplete or incorrect contributions according to organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Reconcile incomplete or incorrect contributions and process when required information is obtained

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Allocate contributions according to contribution type

  1. Allocate contributions in accordance with member and employer requirements
  2. Complete processing according to organisational procedures
Allocate contributions in accordance with member and employer requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete processing according to organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Follow quality assurance procedures

  1. Follow organisational procedures to ensure all work is completed accurately
  2. Maintain member details in accordance with organisational requirements
  3. Implement system, process checks and identify any irregularities
  4. Correct any irregularities or communicate to appropriate personnel
Follow organisational procedures to ensure all work is completed accurately

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain member details in accordance with organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement system, process checks and identify any irregularities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Correct any irregularities or communicate to appropriate personnel

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. Identify types of contributions and their processes

1.1 Identify and record contribution types and sources

1.2 Identify potential errors in processing contribution types

2. Receive superannuation contributions

2.1 Establish new accounts and check for eligibility

2.2 Receive and check superannuation contributions and accompanying documents to ensure information is complete and correct

2.3 Issue contribution receipt according to organisational procedures and regulatory requirements

2.4 File documentation according to organisational procedures

2.5 Process contributions for banking according to organisational procedures

3. Receive rollover benefit statements (RBSs)

3.1 Check RBSs received against eligibility requirements

3.2 Check documentation is complete and process accordingly

4. Identify and manage contribution and RBS errors or incompletions

4.1 Identify errors in contributions and/or documentation

4.2 Return documentation or obtain required information to rectify errors or omissions

4.3 Send employer contribution reminders as required

4.4 Action incomplete or incorrect contributions according to organisational requirements

4.5 Reconcile incomplete or incorrect contributions and process when required information is obtained

5. Allocate contributions according to contribution type

5.1 Allocate contributions in accordance with member and employer requirements

5.2 Complete processing according to organisational procedures

6. Follow quality assurance procedures

6.1 Follow organisational procedures to ensure all work is completed accurately

6.2 Maintain member details in accordance with organisational requirements

6.3 Implement system, process checks and identify any irregularities

6.4 Correct any irregularities or communicate to appropriate personnel

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. Identify types of contributions and their processes

1.1 Identify and record contribution types and sources

1.2 Identify potential errors in processing contribution types

2. Receive superannuation contributions

2.1 Establish new accounts and check for eligibility

2.2 Receive and check superannuation contributions and accompanying documents to ensure information is complete and correct

2.3 Issue contribution receipt according to organisational procedures and regulatory requirements

2.4 File documentation according to organisational procedures

2.5 Process contributions for banking according to organisational procedures

3. Receive rollover benefit statements (RBSs)

3.1 Check RBSs received against eligibility requirements

3.2 Check documentation is complete and process accordingly

4. Identify and manage contribution and RBS errors or incompletions

4.1 Identify errors in contributions and/or documentation

4.2 Return documentation or obtain required information to rectify errors or omissions

4.3 Send employer contribution reminders as required

4.4 Action incomplete or incorrect contributions according to organisational requirements

4.5 Reconcile incomplete or incorrect contributions and process when required information is obtained

5. Allocate contributions according to contribution type

5.1 Allocate contributions in accordance with member and employer requirements

5.2 Complete processing according to organisational procedures

6. Follow quality assurance procedures

6.1 Follow organisational procedures to ensure all work is completed accurately

6.2 Maintain member details in accordance with organisational requirements

6.3 Implement system, process checks and identify any irregularities

6.4 Correct any irregularities or communicate to appropriate personnel

Evidence of the ability to:

establish new accounts with a variety of different contribution types and sources

receive and process contributions from a range of sources

receive and process rollover benefit statements (RBSs)

identify and correct errors, inconsistencies, omissions and incompletions

follow organisational procedures to ensure all work is completed accurately.

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 key features of company policy, objectives and procedures

identify types of contributions and describe their processes

outline the eligibility rules for contribution types under superannuation industry legislation

identify and describe components of a superannuation RBS

outline RBS documentation requirements

describe the key steps in the process for paying superannuation benefits

describe how privacy legislation applies to processing superannuation contributions

describe the organisation’s quality assurance practices.