Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Receive contributions and rollovers, and process

1.1 Establish new accounts as required and check for eligibility

1.2 Receive contributions and rollovers via post, person, phone or electronic format and check accompanying documents to ensure information is complete and correct

1.3 Identify contribution and rollover sources and types

1.4 Identify any potential errors in processing contributions and rollovers

1.5 Process contributions and rollovers where there are no errors, according to fund guidelines

2. Identify and manage errors or non-completions

2.1 Return documentation or seek required information where errors in contributions and/or documentation have been identified

2.2 Action incomplete or incorrect contributions and rollovers according to fund guidelines

2.3 Reconcile incomplete or incorrect contributions and rollovers, and process when required information is obtained

3. Allocate contributions and rollovers according to type

3.1 Prepare reconciled contributions and/or rollovers for allocation into accounts

3.2 Allocate contributions and/or rollovers in accordance with member requirements

3.3 Complete documentation and processing according to fund requirements and procedures

4. Issue receipt or confirmation for contributions and rollovers according to fund guidelines

4.1 Generate receipt and confirmation for contributions and/or rollovers according to fund guidelines

4.2 Check receipt and confirmation against member records according to fund guidelines

4.3 Send receipt and confirmation to member according to fund guidelines

Skill 

Performance Criteria 

Description 

Reading

1.1-1.4, 3.3, 4.2

• Understands and interprets documentation from a variety of sources in familiar texts of some complexity

Writing

3.3, 4.1, 4.3

• Records and consolidates information that is essentially technical and limited in scope and style

Oral Communication

2.1

• Understands oral text that is essentially technical and provides key information relevant to an exchange

Numeracy

1.2, 1.4, 1.5, 2.3, 3.1-3.3

• Extracts, interprets and comprehends mathematical information embedded in texts, updates account records and performs basic calculations electronically

Navigate the world of work

1.2, 2.2, 3.1- 3.3

• Takes personal responsibility for following policies, procedures and legislative requirements

Get the work done

1.1-1.4, 2.1-2.3, 3.1-3.3, 4.1-4.3

• Plans, organises and implements tasks, aiming to achieve them efficiently and effectively
• Makes routine decisions and implements standard procedures for routine tasks, using formal decision-making processes for more complex and non-routine situations
• Uses the main features and functions of digital tools to complete work tasks and to find information

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSSMS401 Process self-managed superannuation contribution

FNSSMS401A Process self-managed superannuation contribution

Updated to meet Standards for Training Packages.

Rewritten, reordered and clarified performance criteria.

Equivalent unit

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.