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
What evidence can you provide to prove your understanding of each of the following citeria?
Receive application and verify data
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Receive new income stream application and payment where required, and compile required documentation Completed |
Evidence:
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Check that documentation is correct and complete Completed |
Evidence:
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Identify and address issues or irregularities and seek advice from team members or authorised personnel as required Completed |
Evidence:
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Gather further information from appropriate sources to proceed with application if required Completed |
Evidence:
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Update new and additional information according to organisational policies and procedures Completed |
Evidence:
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Calculate amount of retirement income stream
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Calculate amount of a non-account based income stream according to minimum and maximum annual limits Completed |
Evidence:
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Confirm payment selected by the member in an account-based income stream is within age-related limits Completed |
Evidence:
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Calculate payment for transition to retirement account-based income stream, according to minimum and maximum annual limits Completed |
Evidence:
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Administer incoming payments and outgoing benefits using required portals and systems Completed |
Evidence:
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Set up new member records
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Extract information required to set up income stream from application form and information collected, including setting up pay as you go (PAYG) instalments Completed |
Evidence:
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Enter data into organisational system and follow checking and authorisation procedures for setting up new income streams including reversionary pensions Completed |
Evidence:
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Process client’s nominated investment choice for an account-based income stream according to organisational policies and procedures Completed |
Evidence:
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Send confirmation, policy documents or investor certificate and details of cooling off period to client according to organisational policies and procedures Completed |
Evidence:
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File documentation according to organisational policies and procedures Completed |
Evidence:
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Meet compliance requirements
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Send to client periodic statement and PAYG summary with income stream details Completed |
Evidence:
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Provide to clients and relevant government departments information relating to income stream products, within legislative and regulatory limits Completed |
Evidence:
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Conduct system checks according to organisational policies and procedures and check for any irregularities of payments Completed |
Evidence:
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Identify and rectify consequences of incorrect payments Completed |
Evidence:
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Determine compliance of retirement income streams according to legislative and regulatory requirements Completed |
Evidence:
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Maintain member records
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Process requests for changes to client’s nominated investment choice according to organisational guidelines Completed |
Evidence:
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Apply earning rates and consumer price index (CPI) adjustments to retirement income stream Completed |
Evidence:
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Determine, on an annual basis, that nominated account-based income stream payments are within the relevant age range set out by legislation, and make adjustments where required Completed |
Evidence:
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Update client’s personal details and allowable changes to nominated beneficiaries as required Completed |
Evidence:
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