Unit of competency Outline

Date retreived
22/07/2026 12:12 PM AWST

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Process superannuation fund payments

Process superannuation fund payments

Unit of competency
National Code
FNSSUP311
State Code
OCI43
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
30
Description
This unit describes the skills and knowledge required to process superannuation fund payments in accordance with organisational policies and procedures.The unit applies to those who, within their level of responsibility, apply specialised organisational knowledge and follow defined procedures to administer and process financial information.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Review documentation relating to superannuation fund payment request
  • 1.1 Identify payment request and trustee instructions
  • 1.2 Obtain and review evidence from required stakeholders relating to request according to organisational procedures
2. Assess validity of superannuation fund payment request and evaluate provided evidence
  • 2.1 Determine validity of request for payment according to evidence provided from relevant parties
  • 2.2 Review request and determine its eligibility against fund conditions of entitlement, terms of the trust, payment criteria, and legislative and organisational requirements
  • 2.3 Obtain additional opinion on validity of request from required stakeholders where required
  • 2.4 Refer unusual requests or those not complying with relevant guidelines or authorities according to organisational procedures
  • 2.5 Complete required documentation and distribute according to legislative and organisational requirements, and trustee instructions
3. Process superannuation fund payments
  • 3.1 Determine level of entitlement based on accurate and up-to-date information and own authority levels, and according to organisational policies and procedures
  • 3.2 Advise relevant parties of entitlement decision according to trustee instructions, legislative requirements and organisational policies and procedures
4. Finalise superannuation fund payment transaction
  • 4.1 Identify and distribute required documentation to member, beneficiary or employer, as applicable and according to organisational policies and procedures
  • 4.2 Check payment details for compliance with legislative and organisational guidelines according to level of own delegated authority
  • 4.3 Make payment and complete supporting documentation according to legislative requirements and organisational policies and procedures
  • 4.4 Update systems and file support documentation according to organisational policies and procedures
No information
No information
Replaces
State Code National Code Title Type
AUT16 FNSSUP301 Process superannuation fund payments Unit of competency