Unit of competency Outline

Date retreived
22/07/2026 3:30 PM AWST

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Process superannuation benefits and insurance claims under special conditions of release

Process superannuation benefits and insurance claims under special conditions of release

Unit of competency
National Code
FNSSUP421
State Code
OCI30
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
40
Description
This unit describes the skills and knowledge required to receive and ensure correct allocation of funds regarding superannuation benefit payment and insurance claims. Conditions would include claims for death, total and permanent disability (TPD), income protection, terminal illness payment, situations of severe financial hardship, or situations warranting early release on compassionate grounds.The unit applies to those who use specialised industry knowledge and analytical skills to evaluate and process complex information and data following defined procedures.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Receive applications for benefit payment and insurance claims
  • 1.1 Identify benefit types to determine relevant steps for processing benefit
  • 1.2 Acknowledge receipt of application for superannuation benefit payment and insurance claim
  • 1.3 Document receipt according to organisational policies and procedures
  • 1.4 Check application, claim and organisational documentation and confirm information is complete and correct
  • 1.5 Check application for eligibility
  • 1.6 Verify signature on application with original documents
2. Identify and manage application and claim errors
  • 2.1 Identify errors and incomplete application and/or claim
  • 2.2 Action incomplete or incorrect application and/or claim according to organisational requirements
  • 2.3 Prepare application and/or claim for processing when required information is obtained
3. Assess and process applications for benefits and insurance claims
  • 3.1 Check application against conditions identified in trust deed and organisational policies and procedures
  • 3.2 Source additional information as required from relevant personnel
  • 3.3 Check trust deed for defined beneficiaries and communicate with relevant stakeholders as required
  • 3.4 Calculate benefit to include additional fees, charges and other factors, using relevant digital systems
  • 3.5 Check information, including taxation and calculation results, for integrity
  • 3.6 Prepare rollover documentation for provision to members, Australian Taxation Office (ATO) and rollover funds
  • 3.7 Process application according to conditions identified in trust deed, relevant legislation and organisational policies and procedures
  • 3.8 Pay benefit according to organisational policies and procedures
4. Provide member communications
  • 4.1 Provide statements and claim correspondence to member according to organisational guidelines and compliance requirements
  • 4.2 Document processes and outcomes of application and/or claim in member file
  • 4.3 Provide procedure for complaints to member as required
No information
No information
Replaces
State Code National Code Title Type
AUT27 FNSSUP401 Process complex superannuation benefit or insurance claim Unit of competency
State Code National Code Title Type
BFX1 FNS40920 Certificate IV in Superannuation Qualification