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Evidence Guide: FNSSUP416 - Establish and maintain superannuation accumulation funds

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

 

FNSSUP416 - Establish and maintain superannuation accumulation funds

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

Interpret superannuation accumulation fund details

  1. Obtain client instructions
  2. Establish fund according to instructions provided, trust deed and required regulations
  3. Clarify information on new fund as required and ensure details are consistent with client requirements
  4. Obtain specialist advice and ensure comprehensive technical information is available when required
  5. Establish new client data in required format and within required timeframes, according to organisational policies and procedures
  6. Regularly review and validate system data against client instructions
  7. Identify and update fund details as required and according to organisational policies and procedures
  8. Amend fund documents and trust deeds according to updated design specifications and in compliance with legislative and client requirements
  9. Update and validate system processes to reflect changes in benefits, preserved amounts and other government changes
  10. Update operational procedures, policies and operating guidelines relating to establishing superannuation funds as required
  11. Communicate changes to fund details to members
Obtain client instructions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish fund according to instructions provided, trust deed and required regulations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Clarify information on new fund as required and ensure details are consistent with client requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain specialist advice and ensure comprehensive technical information is available when required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish new client data in required format and within required timeframes, according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Regularly review and validate system data against client instructions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and update fund details as required and according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Amend fund documents and trust deeds according to updated design specifications and in compliance with legislative and client requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Update and validate system processes to reflect changes in benefits, preserved amounts and other government changes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Update operational procedures, policies and operating guidelines relating to establishing superannuation funds as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Communicate changes to fund details to members

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:

establish and update superannuation accumulation fund details for at least three different clients

seek specialist advice in relation to at least one of the above client’s requirements.

In the course of the above, the candidate must:

interpret fund details relevant to fund establishment.

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 establishing and maintaining superannuation accumulation funds, including for providing factual information or general advice in superannuation

organisational policies and procedures relating to establishing and maintaining funds, including for:

using organisational systems

seeking further information on fund details

seeking specialist advice

updating fund details

key features of trust deeds for superannuation funds

information required to set up new superannuation funds and issues to consider

difference between providing factual information, general advice and personal advice in superannuation.