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Evidence Guide: FNSSUP314 - 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

 

FNSSUP314 - Process superannuation rollover benefits

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

Prepare to process applications for superannuation rollover benefit payments

  1. Receive application for benefit payment according to legislative and regulatory requirements and organisational policies and procedures
  2. Check that application and accompanying documents are complete and correct
  3. Take action on incomplete or incorrect applications according to organisational policies and procedures and within limits of own responsibility
  4. Source additional information from members and employers as required
Receive application for benefit payment according to legislative and regulatory requirements and organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check that application and accompanying documents are complete and correct

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Take action on incomplete or incorrect applications according to organisational policies and procedures and within limits of own responsibility

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Source additional information from members and employers as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process applications for superannuation rollover benefit payments

  1. Prepare application for processing when required information is obtained
  2. Calculate benefit to include additional fees, charges and other factors according to organisational policies and procedures
  3. Check results of calculation and accuracy of data
  4. Forward processed application to required personnel for checking
  5. Correct identified irregularities and communicate to required personnel
Prepare application for processing when required information is obtained

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Calculate benefit to include additional fees, charges and other factors according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check results of calculation and accuracy of data

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Forward processed application to required personnel for checking

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Correct identified irregularities and communicate to required personnel

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Finalise process for superannuation rollover benefit payments

  1. Action remaining application processes according to conditions identified in organisational policies and procedures and quality assurance requirements
  2. Prepare benefit payment documentation and funds for submission to members, Australian Taxation Office (ATO) and rollover funds, as required
  3. Store documentation relating to processed benefit and maintain member documentation according to organisational policies and procedures
Action remaining application processes according to conditions identified in organisational policies and procedures and quality assurance requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare benefit payment documentation and funds for submission to members, Australian Taxation Office (ATO) and rollover funds, as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Store documentation relating to processed benefit and maintain member documentation according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

process at least three different applications for superannuation rollover benefits according to organisational policies and procedures.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative and regulatory requirements relating to processing superannuation rollover benefits, including privacy legislation

organisational policies, objectives and guidelines relating to processing superannuation rollover benefits, including for:

receiving and documenting applications

identifying and addressing incomplete or incorrect applications

assessing the integrity of information

calculating and processing benefits, including fees and charges

quality assurance procedures and practices

storing documentation relating to processed benefit

issuing benefit payments to fund members, Australian Taxation Office (ATO), and rollover funds

components of a superannuation rollover benefits statement (RBS)

documentation required to process rollover benefit payments and their key components, including:

taxation documentation, including pay as you go (PAYG) payment summaries

trust deeds

content to be included in superannuation rollover benefit statements.