Unit of competency Outline

Date retreived
22/07/2026 10:28 AM AWST

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Process superannuation payments in payroll

Process superannuation payments in payroll

Unit of competency
National Code
FNSPAY502
State Code
BBH85
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
13/02/2018
View on TGA
State Implementation and Classification
Approved Date
09/05/2018
Field of Education
080101 - Accounting
Original Release Date
09/05/2018
Nominal Hours
25
Description
This unit describes the skills and knowledge required to process employee superannuation payments in payroll systems.It applies to individuals who, within their level of authority, use specialised knowledge, systematic approaches and analytical techniques to prepare data, calculate and verify superannuation payments, and ensure compliance with regulatory requirements using established payroll systems.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.
Notes
Elements and Performance Criteria
1. Establish parameters and systems for superannuation payments
  • 1.1 Establish and comply with procedures that ensure the confidentiality and security of employee payroll information
  • 1.2 Establish default superannuation fund type in payroll system according to legislative and organisational requirements
  • 1.3 Establish systems that ensure organisation meets its statutory obligations to employees with regard to superannuation payments
2. Collect and prepare information
  • 2.1 Identify industrial awards, contracts and government legislation relevant to calculating superannuation payments
  • 2.2 Gather employee data required to calculate superannuation payment from organisational sources
  • 2.3 Consult with employee to confirm additional voluntary superannuation contributions or salary sacrifice arrangements, and include that information when calculating superannuation payment
  • 2.4 Verify information with organisational sources and enter information into payroll system
3. Calculate and verify superannuation payments
  • 3.1 Use payroll system to calculate employee superannuation payment
  • 3.2 Verify superannuation payment is accurate and complies with legislative obligations and organisational policies and procedures
  • 3.3 Generate superannuation payment in payroll system
4. Distribute and maintain information about superannuation payments
  • 4.1 Prepare reports on superannuation payments and distribute according to organisational policies and procedures
  • 4.2 Respond to employee and employer enquiries about superannuation payments according to organisational policies and procedures
  • 4.3 Store records of employee superannuation payments according to legislative obligations and organisational policies and procedures
No information
No information
Replaced By
State Code National Code Title Type
OEC97 FNSPAY512 Process superannuation payments in payroll Unit of competency