Unit of competency Outline

Date retreived
23/07/2026 5:02 AM AWST

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Establish, maintain and process superannuation records

Establish, maintain and process superannuation records

Unit of competency
National Code
FNSSUP302
State Code
AUT30
TGA Status
Replaced
DTWD Status
Transition (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
30
Description
This unit describes the skills and knowledge required to establish member and/or employer superannuation records within an information management system or database, and ensure records are maintained accurately.It applies to individuals who, within their level of authority, apply specialised organisational knowledge and follow defined procedures to process and update information.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. Set up new member records for individuals
  • 1.1 Collect information required to set up new member file
  • 1.2 Check information to ensure it is complete and correct
  • 1.3 Enter data accurately into organisational information system, correcting information errors within level of authority
  • 1.4 Activate new member record and send confirmation according to organisational procedure and regulatory requirements
  • 1.5 Accurately update new and additional information within organisational procedure
2. Set up new employer records as required
  • 2.1 Collect information required to set up new employer record
  • 2.2 Check information to ensure it is complete and correct
  • 2.3 Enter data accurately into organisational information system, correcting information errors within level of authority
  • 2.4 Activate new employer record
  • 2.5 Send confirmation according to organisational procedure and regulatory requirements
3. Maintain integrity of records
  • 3.1 Ensure all transactions are correctly reflected in records
  • 3.2 Identify any inconsistencies and take action to rectify
  • 3.3 Update records as new information is received
  • 3.4 Add enquiries and communications to records
  • 3.5 Send confirmation according to organisational procedures
4. Identify administrative and accounting processes documented in member records
  • 4.1 Identify process of determining interest
  • 4.2 Identify administrative charges and insurance premiums on records
  • 4.3 Describe processes of allocating interest, charges and insurance premiums to member accounts to the customer
  • 4.4 Provide members with information regarding their records as required and according to organisational procedures
5. Produce member benefit statements
  • 5.1 Identify and accurately describe elements of member benefit statements and calculation processes
  • 5.2 Produce statements as required and according to organisational procedures
6. Follow quality assurance procedures
  • 6.1 Follow organisational procedures to ensure work is completed accurately
  • 6.2 Establish and maintain member and employer details in accordance with organisational requirements
  • 6.3 Identify incorrect information and associated consequences and correct within limits of own responsibility
No information
No information
Replaces
State Code National Code Title Type
D9450 FNSSUP302A Establish, maintain and process superannuation records Unit of competency
Replaced By
State Code National Code Title Type
OCI42 FNSSUP312 Establish, maintain and process superannuation records 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