Unit of competency Outline
Date retreived
23/07/2026 1:48 PM AWST
23/07/2026 1:48 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 superannuation contributions
Process superannuation contributions
Unit of competency
National Code
FNSSUP303A
FNSSUP303A
State Code
D9451
D9451
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
27/02/2012
Field of Education
081105 - Investment And Securities
Original Release Date
27/02/2012
Nominal Hours
20
Description
This unit describes the performance outcomes, skills and knowledge required to receive superannuation contributions and ensure correct funds are allocated to accounts. The unit encompasses the identification of contribution types and their processes, processes utilised to receive contributions, processes utilised to receive Rollover Benefit Statements (RBS), processes utilised to identify and manage RBS errors and incompletions, processes to allocate contributions according to contribution type and the ability to issues receipts and confirmations according to organisational guidelines.
Notes
Elements and Performance Criteria
1. Identify types of contributions and their processes
- 1.1 Contribution sources and types are identified and recorded
- 1.2 Potential errors in processing contribution types are identified
2. Receive superannuation contributions
- 2.1 New accounts are established and checked for eligibility
- 2.2 Superannuation contributions and accompanying documents are received and checked to ensure information is complete and correct
- 2.3 Receipt of contribution is documented according to organisational procedures
- 2.4 Documentation is filed according to organisational procedures
- 2.5 Contributions are processed for banking according to organisational procedures
3. Receive Rollover Benefit Statements (RBS)
- 3.1 RBSs received are checked for eligibility
- 3.2 Documentation is checked for completion and processed accordingly
4. Identify and manage contribution and RBS errors or incompletions
- 4.1 Errors in contributions and/or documentation are identified
- 4.2 Documentation is returned or required information sought
- 4.3 Employers are sent contribution reminders as required
- 4.4 Incomplete or incorrect contributions are actioned according to organisational requirements
- 4.5 Incomplete or incorrect contributions are reconciled and processed when required information is obtained
5. Allocate contributions according to contribution type
- 5.1 Contributions are allocated in accordance with member and employer requirements
- 5.2 Processing is completed according to organisational requirements and procedures
6. Follow quality assurance procedures
- 6.1 Organisational procedures are followed
- 6.2 Member details are established and maintained in accordance with organisational requirements
- 6.3 System and process checks are implemented and any irregularities identified
- 6.4 Any irregularities are corrected or communicated to appropriate personnel
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:
members
nominated contributors such as spouses, family members etc.
employers
Australian Taxation Office (ATO)
transfers and rollovers.
Errors in contributions and/or documentation may include:
member information is illegible or missing
signature is missing
payment does not correspond with documentation
member information does not correlate with fund records.
Organisational procedures may include:
system/computer procedures
best practice standards
regulatory requirements
internal communications
internal service level agreements
codes of practice
documentation and filing procedures.
Contribution sources may include:
members
nominated contributors such as spouses, family members etc.
employers
Australian Taxation Office (ATO)
transfers and rollovers.
Errors in contributions and/or documentation may include:
member information is illegible or missing
signature is missing
payment does not correspond with documentation
member information does not correlate with fund records.
Organisational procedures may include:
system/computer procedures
best practice standards
regulatory requirements
internal communications
internal service level agreements
codes of practice
documentation and filing procedures.
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:
establish new accounts with a variety of different contribution types and sources
receive and process contributions
receive and process Rollover Benefit Statements
identify and correct errors, inconsistencies, omissions and incompletions
reconcile client accounts.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services 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 office equipment, technology, software and consumables
access to financial services product information
access to information about a workplace 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 units of competency
observing processes and procedure 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
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
establish new accounts with a variety of different contribution types and sources
receive and process contributions
receive and process Rollover Benefit Statements
identify and correct errors, inconsistencies, omissions and incompletions
reconcile client accounts.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services 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 office equipment, technology, software and consumables
access to financial services product information
access to information about a workplace 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 units of competency
observing processes and procedure 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 |
|---|---|---|---|
| AUT19 | FNSSUP303 | Process superannuation contributions | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D702 | FNS30111 | Certificate III in Financial Services | Qualification |