Unit of competency Outline

Date retreived
23/07/2026 6:32 AM AWST

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Process superannuation rollover benefits

Process superannuation rollover benefits

Unit of competency
National Code
FNSSUP304
State Code
AUT14
TGA Status
Replaced
DTWD Status
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
081105 - Investment And Securities
Original Release Date
16/09/2015
Nominal Hours
20
Description
This unit describes the skills and knowledge required to receive applications for superannuation benefit payments and ensure correct funds are allocated to members. This involves identification of the types of benefits, receipts of benefits and identification and management of errors pertaining to applications, processing of payments and compliance with quality assurance procedures.It applies to individuals who, within their level of authority, apply specialised organisational knowledge and follow defined procedures to process financial information and maintain quality standards.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Receive applications for benefit payment
  • 1.1 Receive applications for superannuation benefit payment and check accompanying documents to ensure information is complete and correct
  • 1.2 Document and issue receipt according to organisational procedures
2. Identify and manage application errors
  • 2.1 Identify errors and incomplete applications
  • 2.2 Take appropriate action on incomplete or incorrect applications according to organisational requirements
  • 2.3 Prepare applications for processing when required information is obtained
3. Process applications for benefit payments
  • 3.1 Check applications against organisational procedures
  • 3.2 Source additional information from member or employer as required
  • 3.3 Calculate benefit to include additional fees, charges and/or other factors, using computer system
  • 3.4 Check results of calculation to ensure accuracy of data or forward to appropriate staff for checking
  • 3.5 Process application in accordance with conditions identified in organisational procedures
  • 3.6 Issue benefit payment documentation and monies to members, Australian Taxation Office (ATO) and rollover funds, as required
4. Follow quality assurance procedures
  • 4.1 Follow organisational procedures to ensure all work is completed accurately
  • 4.2 Maintain member documentation in accordance with organisational requirements
  • 4.3 Implement system and process checks, and identify any irregularities
  • 4.4 Correct any irregularities or communicate to appropriate personnel
No information
No information
Replaces
State Code National Code Title Type
D9452 FNSSUP304A Process superannuation rollover benefits Unit of competency
Replaced By
State Code National Code Title Type
OCI40 FNSSUP314 Process superannuation rollover benefits Unit of competency
State Code National Code Title Type
BFE7 FNS30120 Certificate III in Financial Services Qualification
AWA5 FNS30115 Certificate III in Financial Services Qualification