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Evidence Guide: FNSSUP421 - Process superannuation benefits and insurance claims under special conditions of release

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

 

FNSSUP421 - Process superannuation benefits and insurance claims under special conditions of release

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

Receive applications for benefit payment and insurance claims

  1. Identify benefit types to determine relevant steps for processing benefit
  2. Acknowledge receipt of application for superannuation benefit payment and insurance claim
  3. Document receipt according to organisational policies and procedures
  4. Check application, claim and organisational documentation and confirm information is complete and correct
  5. Check application for eligibility
  6. Verify signature on application with original documents
Identify benefit types to determine relevant steps for processing benefit

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Acknowledge receipt of application for superannuation benefit payment and insurance claim

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document receipt according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check application, claim and organisational documentation and confirm information is complete and correct

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check application for eligibility

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Verify signature on application with original documents

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and manage application and claim errors

  1. Identify errors and incomplete application and/or claim
  2. Action incomplete or incorrect application and/or claim according to organisational requirements
  3. Prepare application and/or claim for processing when required information is obtained
Identify errors and incomplete application and/or claim

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Action incomplete or incorrect application and/or claim according to organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare application and/or claim for processing when required information is obtained

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess and process applications for benefits and insurance claims

  1. Check application against conditions identified in trust deed and organisational policies and procedures
  2. Source additional information as required from relevant personnel
  3. Check trust deed for defined beneficiaries and communicate with relevant stakeholders as required
  4. Calculate benefit to include additional fees, charges and other factors, using relevant digital systems
  5. Check information, including taxation and calculation results, for integrity
  6. Prepare rollover documentation for provision to members, Australian Taxation Office (ATO) and rollover funds
  7. Process application according to conditions identified in trust deed, relevant legislation and organisational policies and procedures
  8. Pay benefit according to organisational policies and procedures
Check application against conditions identified in trust deed and organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Source additional information as required from relevant personnel

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check trust deed for defined beneficiaries and communicate with relevant stakeholders as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Calculate benefit to include additional fees, charges and other factors, using relevant digital systems

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check information, including taxation and calculation results, for integrity

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare rollover documentation for provision to members, Australian Taxation Office (ATO) and rollover funds

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process application according to conditions identified in trust deed, relevant legislation and organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Pay benefit according to organisational policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide member communications

  1. Provide statements and claim correspondence to member according to organisational guidelines and compliance requirements
  2. Document processes and outcomes of application and/or claim in member file
  3. Provide procedure for complaints to member as required
Provide statements and claim correspondence to member according to organisational guidelines and compliance requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document processes and outcomes of application and/or claim in member file

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide procedure for complaints to member as required

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 two superannuation benefit claims and/or insurance claims made under special conditions of release.

In the course of the above, the candidate must:

follow conditions contained in the trust deed and organisational requirements

manage applications and claim errors

calculate payments, including taxation requirements as required.

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:

taxation requirements for:

death

deductions for payments

financial hardship payment

income protection

terminal illness benefit

total and permanent disablement benefits

organisational policies, procedures and objectives relating to processing complex superannuation benefit and insurance claims

differences between payment types

documentation requirements for processing death and disability payments

procedures and information requirements to assess, calculate and process benefits for lump sum payments, death claims and disablement claims

conditions applying to trust deeds and legal implications

steps and procedures for:

assessing claims and calculating and processing payments

monitoring pension and annuity payments.