Unit of competency Outline
Date retreived
22/07/2026 3:41 PM AWST
22/07/2026 3:41 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Process self-managed superannuation contribution
Process self-managed superannuation contribution
Unit of competency
National Code
FNSSMS401A
FNSSMS401A
State Code
D4326
D4326
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
23/02/2012
Field of Education
081105 - Investment And Securities
Original Release Date
23/02/2012
Nominal Hours
40
Description
This unit describes the functions involved in receiving self-managed superannuation contributions and ensuring correct funds are allocated to accounts. It encompasses the identification of contribution types and their processes, processes utilised to receive contributions, processes utilised to receive rolled over Eligible Termination Payments (ETP), processes utilised to identify and manage ETP errors and non-completions, processes to allocate contributions according to contribution type, and the ability to issue receipts and confirmations according to organisational guidelines.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
Notes
Elements and Performance Criteria
1. Identify types of contributions and their processes
- 1.1. Contribution sources and types are identified
- 1.2. Potential errors in processing contribution types are identified
2. Receive contributions
- 2.1. New accounts are established as required and checked for eligibility
- 2.2. Contributions are received via post, person, phone or electronic format and accompanying documents checked to ensure information is complete and correct
- 2.3. Receipt is documented according to legislative requirements
- 2.4. Documentation is filed according to fund guidelines
- 2.5. Contributions are processed for banking according to fund guidelines
3. Receive rolled over ETP
- 3.1. ETP contributions received are checked for rollover eligibility
- 3.2. Documentation is checked for completion and processed accordingly
4. Identify and manage contribution and ETP errors or non-completions
- 4.1. Errors in contributions and/or documentation are identified
- 4.2. Documentation is returned or required information sought
- 4.3. Incomplete or incorrect contributions are actioned according to fund guidelines
- 4.4. Incomplete or incorrect contributions are reconciled and processed when required information is obtained
5. Allocate contributions according to contribution type
- 5.1. Reconciled contributions are prepared for allocation into accounts
- 5.2. Contributions are allocated in accordance with member requirements
- 5.3. Documentation and processing is completed according to fund requirements and procedures
6. Issue receipt/ confirmation for contributions according to fund guidelines
- 6.1. Receipt/confirmation is generated for contributions according to fund guidelines
- 6.2. Receipt/confirmation is checked against member records according to fund guidelines
- 6.3. Receipt/confirmation is sent to member according to fund guidelines
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Contribution sources may include:
Australian Taxation Office (ATO)
members
nominated contributors such as spouses, family members
transfers and rollovers.
Errors in contributions and/or documentation may include:
member information does not correlate with fund records
member information is illegible or missing
payment does not correspond with documentation
signature is missing.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Contribution sources may include:
Australian Taxation Office (ATO)
members
nominated contributors such as spouses, family members
transfers and rollovers.
Errors in contributions and/or documentation may include:
member information does not correlate with fund records
member information is illegible or missing
payment does not correspond with documentation
signature is missing.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
apply knowledge of contribution types and sources to establish and manage new accounts
receive ETP rollover payments, while checking for errors and omissions and reconcile contribution for allocation to accounts
issue receipt and confirmation for contributions according to fund requirements
identify consequences of incorrect allocation of member contributions
identify factors which may require further investigation
reconcile income against statements.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation financial records
access to organisation policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace business simulations or scenarios.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
apply knowledge of contribution types and sources to establish and manage new accounts
receive ETP rollover payments, while checking for errors and omissions and reconcile contribution for allocation to accounts
issue receipt and confirmation for contributions according to fund requirements
identify consequences of incorrect allocation of member contributions
identify factors which may require further investigation
reconcile income against statements.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation financial records
access to organisation policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace business simulations or scenarios.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUT23 | FNSSMS401 | Process self-managed superannuation contribution | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D709 | FNS40911 | Certificate IV in Superannuation | Qualification |
| S708 | FNS40910 | Certificate IV in Superannuation | Qualification |