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Evidence Guide: FNSSUP304 - Process superannuation rollover benefits

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

 

FNSSUP304 - Process superannuation rollover benefits

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

Receive applications for benefit payment

  1. Receive applications for superannuation benefit payment and check accompanying documents to ensure information is complete and correct
  2. Document and issue receipt according to organisational procedures
Receive applications for superannuation benefit payment and check accompanying documents to ensure information is complete and correct

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document and issue receipt according to organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and manage application errors

  1. Identify errors and incomplete applications
  2. Take appropriate action on incomplete or incorrect applications according to organisational requirements
  3. Prepare applications for processing when required information is obtained
Identify errors and incomplete applications

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Take appropriate action on incomplete or incorrect applications according to organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare applications for processing when required information is obtained

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process applications for benefit payments

  1. Check applications against organisational procedures
  2. Source additional information from member or employer as required
  3. Calculate benefit to include additional fees, charges and/or other factors, using computer system
  4. Check results of calculation to ensure accuracy of data or forward to appropriate staff for checking
  5. Process application in accordance with conditions identified in organisational procedures
  6. Issue benefit payment documentation and monies to members, Australian Taxation Office (ATO) and rollover funds, as required
Check applications against organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Source additional information from member or employer as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Calculate benefit to include additional fees, charges and/or other factors, using computer system

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check results of calculation to ensure accuracy of data or forward to appropriate staff for checking

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process application in accordance with conditions identified in organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Issue benefit payment documentation and monies to members, Australian Taxation Office (ATO) and rollover funds, as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Follow quality assurance procedures

  1. Follow organisational procedures to ensure all work is completed accurately
  2. Maintain member documentation in accordance with organisational requirements
  3. Implement system and 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 documentation in accordance with organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement system and 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. Receive applications for benefit payment

1.1 Receive applications for superannuation benefit payment and check accompanying documents to ensure information is complete and correct

1.2 Document and issue receipt according to organisational procedures

2. Identify and manage application errors

2.1 Identify errors and incomplete applications

2.2 Take appropriate action on incomplete or incorrect applications according to organisational requirements

2.3 Prepare applications for processing when required information is obtained

3. Process applications for benefit payments

3.1 Check applications against organisational procedures

3.2 Source additional information from member or employer as required

3.3 Calculate benefit to include additional fees, charges and/or other factors, using computer system

3.4 Check results of calculation to ensure accuracy of data or forward to appropriate staff for checking

3.5 Process application in accordance with conditions identified in organisational procedures

3.6 Issue benefit payment documentation and monies to members, Australian Taxation Office (ATO) and rollover funds, as required

4. Follow quality assurance procedures

4.1 Follow organisational procedures to ensure all work is completed accurately

4.2 Maintain member documentation in accordance with organisational requirements

4.3 Implement system and process checks, and identify any irregularities

4.4 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. Receive applications for benefit payment

1.1 Receive applications for superannuation benefit payment and check accompanying documents to ensure information is complete and correct

1.2 Document and issue receipt according to organisational procedures

2. Identify and manage application errors

2.1 Identify errors and incomplete applications

2.2 Take appropriate action on incomplete or incorrect applications according to organisational requirements

2.3 Prepare applications for processing when required information is obtained

3. Process applications for benefit payments

3.1 Check applications against organisational procedures

3.2 Source additional information from member or employer as required

3.3 Calculate benefit to include additional fees, charges and/or other factors, using computer system

3.4 Check results of calculation to ensure accuracy of data or forward to appropriate staff for checking

3.5 Process application in accordance with conditions identified in organisational procedures

3.6 Issue benefit payment documentation and monies to members, Australian Taxation Office (ATO) and rollover funds, as required

4. Follow quality assurance procedures

4.1 Follow organisational procedures to ensure all work is completed accurately

4.2 Maintain member documentation in accordance with organisational requirements

4.3 Implement system and process checks, and identify any irregularities

4.4 Correct any irregularities or communicate to appropriate personnel

Evidence of the ability to:

receive and process benefit applications for payment

source and interpret information required to process benefits including documentation, taxation requirements and trust deeds

review benefit applications:

for omissions

to identify errors in benefit applications

to check and assess the integrity of information

complete benefit calculations, including fees and charges.

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 guidelines relating to processing superannuation rollover benefits

identify and describe components of a superannuation rollover benefits statement (RBS) and pay-as-you-go (PAYG) payment summary

describe the documentation requirements of benefit payments

outline procedures for calculating and processing benefits

describe how privacy legislation applies to processing superannuation rollover benefits

describe the organisation’s quality assurance practices.