Administer retirement income streams

Formats and tools

Unit Description
Reconstruct the unit from the xml and display it as an HTML page.
Assessment Tool
an assessor resource that builds a framework for writing an assessment tool
Assessment Template
generate a spreadsheet for marking this unit in a classroom environment. Put student names in the top row and check them off as they demonstrate competenece for each of the unit's elements and performance criteria.
Assessment Matrix
a slightly different format than the assessment template. A spreadsheet with unit names, elements and performance criteria in separate columns. Put assessment names in column headings to track which performance criteria each one covers. Good for ensuring that you've covered every one of the performance criteria with your assessment instrument (all assessement tools together).
Wiki Markup
mark up the unit in a wiki markup codes, ready to copy and paste into a wiki page. The output will work in most wikis but is designed to work particularly well as a Wikiversity learning project.
Evidence Guide
create an evidence guide for workplace assessment and RPL applicants
Competency Mapping Template
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners. A template for developing assessments for a unit, which will help you to create valid, fair and reliable assessments for the unit, ready to give to trainers and students
Observation Checklist
create an observation checklist for workplace assessment and RPL applicants. This is similar to the evidence guide above, but a little shorter and friendlier on your printer. You will also need to create a seperate Assessor Marking Guide for guidelines on gathering evidence and a list of key points for each activity observed using the unit's range statement, required skills and evidence required (see the unit's html page for details)

Self Assessment Survey
A form for students to assess thier current skill levels against each of the unit's performance criteria. Cut and paste into a web document or print and distribute in hard copy.
Moodle Outcomes
Create a csv file of the unit's performance criteria to import into a moodle course as outcomes, ready to associate with each of your assignments. Here's a quick 'how to' for importing these into moodle 2.x
Registered Training Organisations
Trying to find someone to train or assess you? This link lists all the RTOs that are currently registered to deliver FNSSUP403, 'Administer retirement income streams'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Books
Reference books for 'Administer retirement income streams' on fishpond.com.au. This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to ntisthis.com for every purchase, so go nuts :)


Elements and Performance Criteria

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Explain the features and processes of retirement income streams

1.1 Identify main types of income streams

1.2 Identify features, advantages and disadvantages of the main types of income streams

1.3 Identify taxation, payment and social security requirements and considerations of income streams

1.4 Identify and comply with regulations and legislation determining compliance of retirement income streams

2. Process rollover payments for the purchase of retirement income streams

2.1 Establish new accounts and check for eligibility

2.2 Receive payments via post, person, phone or electronic transfer

2.3 Check payments and organisational documents to ensure information is complete and correct

2.4 Obtain further information as required

2.5 Enter data and activate policy according to organisational procedures

2.6 Prepare payments and bank according to organisational procedures

2.7 Send policy documents and confirmation to member

2.8 File documentation according to organisational procedures

3. Process retirement income benefits

3.1 Prepare payment and process according to conditions of member contract and organisational procedures

3.2 Calculate benefit to include additional fees, taxation, surcharge debt and/or other factors

3.3 Prepare documentation and check according to organisational procedures

3.4 Check payment for delivery to member

4. Process and maintain documentation and records

4.1 Correctly document all transactions in member records

4.2 Prepare statements and receipts, and issue to members according to organisational procedures

4.3 Maintain member records to ensure currency and accuracy

4.4 Maintain pension payments and review regularly

4.5 Identify and implement annual review processes

4.6 Generate and provide certificates, benefit information and taxation information according to legislative requirements

5. Process commutations

5.1 Receive requests for withdrawals and document according to organisational procedures

5.2 Check information provided for accuracy and completion

5.3 Process withdrawal requests and update records according to organisational procedures

6. Respond to member enquiries regarding retirement income as required

6.1 Treat member enquiries professionally and in accordance with organisational client service standards

6.2 Provide required information to meet general member enquiries

6.3 Refer complex enquiries to appropriate personnel

6.4 Provide information according to organisational and legislative requirements

7. Follow quality assurance procedures

7.1 Follow organisational procedures to ensure all work is completed accurately

7.2 Comply with regulations and legislation determining compliance of retirement income streams

7.3 Establish member details and maintain in accordance with organisational requirements

7.4 Implement system and process checks, and identify any irregularities

7.5 Correct any irregularities or communicate to appropriate personnel


Qualifications and Skillsets

FNSSUP403 appears in the following qualifications:

  • FNS40910 - Certificate IV in Superannuation
  • FNS40911 - Certificate IV in Superannuation