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 FNSSUP403A, '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

1. Explain the features and processes of retirement income streams

1.1. The main types of income streams are identified

1.2. The features, advantages and disadvantages of the main retirement income streams are identified

1.3. The taxation, payment and social security requirements and considerations of income streams are identified

1.4. Regulations and legislation determining compliance of retirement income streams are identified and complied with

2. Process Eligible Termination Payment (ETP) rollover payments for the purchase of retirement income streams

2.1. New accounts are established and checked for eligibility

2.2. Payments are received via post, person, phone or electronic transfer

2.3. Payments and organisation documents are checked to ensure information is complete and correct

2.4. Further information is obtained as required

2.5. Data is entered and policy activated according to organisation procedures

2.6. Payments are prepared and banked according to organisation procedures

2.7. Policy documents and confirmation are sent to member

2.8. Documentation is filed according to organisation procedures

3. Process retirement income benefits

3.1. Payment is prepared and processed according to conditions of member contract and organisation guidelines

3.2. Benefit is calculated to include additional fees, taxation, surcharge debt and/or other factors

3.3. Documentation is prepared and checked according to organisation guidelines

3.4. Payment is checked for delivery to member

4. Process and maintain documentation and records

4.1. All transactions are correctly documented in member records

4.2. Statements and receipts are prepared and issued to members according to organisation guidelines

4.3. Member records are maintained to ensure currency and accuracy

4.4. Pension payments are maintained and regularly reviewed

4.5. The annual review processes are identified and implemented

4.6. Certificates, benefit information and taxation information are generated and provided according to legislative requirements

5. Process commutations

5.1. Requests for withdrawals are received and documented according to organisation procedures

5.2. Information provided is checked for accuracy and completion

5.3. Withdrawal requests are processed according to organisation procedures

5.4. Records are updated

6. Respond to member enquiries regarding retirement income as required

6.1. Member enquiries are treated professionally and in accordance with organisation customer service standards

6.2. Required information is provided to meet general member enquiries

6.3. Complex enquiries are referred to appropriate personnel

6.4. Information is provided according to organisation and legislative requirements

7. Follow quality assurance procedures

7.1. Organisation procedures are followed

7.2. Member details are established and maintained in accordance with organisation requirements

7.3. System and process checks are implemented and any irregularities identified

7.4. Any irregularities are corrected or communicated to appropriate personnel


Qualifications and Skillsets

FNSSUP403A appears in the following qualifications:

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