Unit of competency Outline

Date retreived
22/07/2026 9:43 AM AWST

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Facilitate customer or employee knowledge of superannuation as an investment tool

Facilitate customer or employee knowledge of superannuation as an investment tool

Unit of competency
National Code
FNSFLT505
State Code
AUQ96
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
080101 - Accounting
Original Release Date
16/09/2015
Nominal Hours
60
Description
This unit describes the skills and knowledge required to educate customers, or other people in or entering the workforce, about the role of superannuation as a long-term investment device to assist with their preparation for retirement. This includes the purpose of superannuation, statutory requirements for employer contributions, the role of a range of investment vehicles in the building of a superannuation portfolio and the monitoring of a superannuation scheme’s performance over time.It applies to individuals who use specialised knowledge and interpersonal skills to mentor and educate others in financial literacy matters.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Explore the contemporary superannuation environment in Australia
  • 1.1 Identify and analyse purposes and benefits of superannuation as part of a long-term investment strategy to support people in retirement
  • 1.2 Investigate and assess characteristics of superannuation in Australia, following introduction of superannuation guarantee contributions by employers, for their impact on individual and community savings patterns
  • 1.3 Identify and explore role of regulators and trustees in regulation and management of superannuation funds in the Australian superannuation industry
  • 1.4 Explain and clarify key terminology used in the superannuation industry
  • 1.5 Identify sources for ongoing information about superannuation in Australia and explore their uses
2. Analyse range of investment vehicles used in superannuation funds
  • 2.1 Identify nature and role of superannuation schemes and range and types of superannuation fund managers
  • 2.2 Explain and analyse a range of investment objectives and their related strategies
  • 2.3 Identify role of death benefits in superannuation schemes
  • 2.4 Explain and analyse costs of administering and managing superannuation funds
  • 2.5 Analyse and compare cross-section of superannuation funds’ performance over time and explain variables that contributed to performance
3. Foster active management of superannuation funds
  • 3.1 Explain and demonstrate importance and means of checking superannuation statements for accuracy to customers
  • 3.2 Demonstrate and explain techniques for analysing performance, rate of return, government taxes and other costs
  • 3.3 Describe and analyse strategies for building superannuation savings, including personal contributions and salary sacrificing
  • 3.4 Explain importance of retaining superannuation statements for future analysis to customers
  • 3.5 Explain and explore mechanisms to gain information and clarification, or to lodge complaints if concerns or discrepancies arise about an individual’s superannuation fund
4. Foster understanding of structures and strategies to deploy superannuation savings
  • 4.1 Explain and explore processes and requirements for management and deployment of funds when employment status or employer are changed
  • 4.2 Explain and explore role and nature of preserved and non-preserved components of superannuation funds
  • 4.3 Define and explain government regulated minimum age when superannuation benefits can be accessed, and the regulation’s impact, to customers
  • 4.4 Define and explain nature of accumulation or defined benefit funds to customers
  • 4.5 Explain and explore range of structures and techniques for use of superannuation funds on retirement
No information
No information
Replaces
State Code National Code Title Type
D4119 FNSFLT505A Facilitate customer or employee understanding of superannuation as an investment tool Unit of competency
Replaced By
State Code National Code Title Type
OCZ56 FNSFLT515 Facilitate knowledge of superannuation as an investment tool Unit of competency