Unit of competency Outline

Date retreived
22/07/2026 9:31 AM AWST

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Process superannuation fund contributions

Process superannuation fund contributions

Unit of competency
National Code
FNSSUP313
State Code
OCI41
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
04/11/2020
View on TGA
State Implementation and Classification
Approved Date
11/03/2021
Field of Education
081105 - Investment And Securities
Original Release Date
11/03/2021
Nominal Hours
20
Description
This unit describes the skills and knowledge required to receive and process superannuation fund contributions and incoming payments for clients, and to confirm that correct funds are allocated to accounts.The unit applies to those who, within their level of authority, apply specialised organisational and industry knowledge and follow defined procedures to process information and ensure quality standards are maintained.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Receive and reconcile superannuation contributions and establish new accounts where required
  • 1.1 Establish new accounts where required and check for eligibility
  • 1.2 Identify and record contribution types and sources according to organisational policies and procedures, and check for potential errors
  • 1.3 Issue contribution receipt according to regulatory requirements and organisational policies and procedures
  • 1.4 Reconcile contributions received according to organisational policies and procedures
  • 1.5 File documentation and prepare payments to be processed according to organisational policies and procedures
2. Check superannuation contributions
  • 2.1 Identify errors in contributions according to organisational quality assurance practices
  • 2.2 Return documentation to required stakeholders and seek information required to rectify errors and omissions as required and within limits of own responsibility
  • 2.3 Send employer contribution reminders as required and according to organisational policies and procedures
  • 2.4 Take action regarding incomplete and incorrect contributions according to organisational policies and procedures
  • 2.5 Reconcile incomplete or incorrect contributions, and process according to organisational policies and procedures when required information is obtained
3. Finalise superannuation contributions and maintain member details
  • 3.1 Allocate contributions according to member requirements
  • 3.2 Complete processing according to organisational policies and procedures
  • 3.3 Implement system and process checks and identify any irregularities
  • 3.4 Correct irregularities or escalate to required personnel
  • 3.5 Maintain member details according to organisational requirements
No information
No information
Replaces
State Code National Code Title Type
AUT19 FNSSUP303 Process superannuation contributions Unit of competency