Unit of competency Outline
Date retreived
22/07/2026 7:43 PM AWST
22/07/2026 7:43 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 rollover benefits
Process superannuation rollover benefits
Unit of competency
National Code
FNSSUP314
FNSSUP314
State Code
OCI40
OCI40
TGA Status
Current
Current
DTWD Status
Approved
Approved
State Implementation and Classification
Approved Date
11/03/2021
Field of Education
081105 - Investment And Securities
Original Release Date
11/03/2021
Nominal Hours
20
Description
This unit describes the skills and knowledge required to receive and process superannuation rollover benefits. This involves identification of the types of rollover benefits and the identification and management of errors relating to applications and processing of payments, and compliance with quality assurance procedures.The unit applies to those 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. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Prepare to process applications for superannuation rollover benefit payments
- 1.1 Receive application for benefit payment according to legislative and regulatory requirements and organisational policies and procedures
- 1.2 Check that application and accompanying documents are complete and correct
- 1.3 Take action on incomplete or incorrect applications according to organisational policies and procedures and within limits of own responsibility
- 1.4 Source additional information from members and employers as required
2. Process applications for superannuation rollover benefit payments
- 2.1 Prepare application for processing when required information is obtained
- 2.2 Calculate benefit to include additional fees, charges and other factors according to organisational policies and procedures
- 2.3 Check results of calculation and accuracy of data
- 2.4 Forward processed application to required personnel for checking
- 2.5 Correct identified irregularities and communicate to required personnel
3. Finalise process for superannuation rollover benefit payments
- 3.1 Action remaining application processes according to conditions identified in organisational policies and procedures and quality assurance requirements
- 3.2 Prepare benefit payment documentation and funds for submission to members, Australian Taxation Office (ATO) and rollover funds, as required
- 3.3 Store documentation relating to processed benefit and maintain member documentation according to organisational policies and procedures
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUT14 | FNSSUP304 | Process superannuation rollover benefits | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| BFE7 | FNS30120 | Certificate III in Financial Services | Qualification |
| BHT6 | FNS30122 | Certificate III in Financial Services | Qualification |