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 applications for benefit payment

1.1 Receive applications for superannuation benefit payment and check accompanying documents to ensure information is complete and correct

1.2 Document and issue receipt according to organisational procedures

2. Identify and manage application errors

2.1 Identify errors and incomplete applications

2.2 Take appropriate action on incomplete or incorrect applications according to organisational requirements

2.3 Prepare applications for processing when required information is obtained

3. Process applications for benefit payments

3.1 Check applications against organisational procedures

3.2 Source additional information from member or employer as required

3.3 Calculate benefit to include additional fees, charges and/or other factors, using computer system

3.4 Check results of calculation to ensure accuracy of data or forward to appropriate staff for checking

3.5 Process application in accordance with conditions identified in organisational procedures

3.6 Issue benefit payment documentation and monies to members, Australian Taxation Office (ATO) and rollover funds, as required

4. Follow quality assurance procedures

4.1 Follow organisational procedures to ensure all work is completed accurately

4.2 Maintain member documentation in accordance with organisational requirements

4.3 Implement system and process checks, and identify any irregularities

4.4 Correct any irregularities or communicate to appropriate personnel

Skill 

Performance Criteria 

Description 

Reading

1.1, 2.1, 3.1, 3.4, 4.3

• Interprets, consolidates and checks information and data against established criteria and requirements, and for accuracy and completeness

Writing

1.2, 2.3, 3.2, 3.5, 3.6, 4.2, 4.4

• Accurately records and completes organisational documents and correspondence using clear language, and correct spelling, grammar and terminology

Oral Communication

3.2, 4.4

• Participates effectively in verbal exchanges, using active listening and questioning to convey and clarify information with a range of personnel

Numeracy

1.1, 1.2, 2.1, 3.3, 3.4, 3.6

• Performs mathematical calculations to verify financial data and process payments

Navigate the world of work

1.2, 2.2, 3.5, 3.6, 4.1, 4.2

• Complies with explicit policies and procedures, and explores and implements where identified the implicit expectations of policies and procedures
• Understands rights and responsibilities, and complies with legal and regulatory requirements

Interact with others

3.2, 4.4

• Uses a limited range of accepted practices for communicating in a work environment
• Recognises common cultural and other differences of people in the work context and makes adjustments in addressing the differences

Get the work done

2.1, 2.2, 3.1, 3.5, 3.6, 4.2, 4.3, 4.4

• Plans and implements routine tasks and workload, making limited decisions on sequencing, timing and collaboration, and seeks assistance in setting priorities
• Makes low-impact decisions within familiar situations, based on a range of predefined or routine solutions, and evaluates the effectiveness of the outcome
• Responds to predictable routine problems by implementing standard or logical solutions
• Uses a range of digitally based technologies to enter, access or update information to achieve required outcomes

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSSUP304 Process superannuation rollover benefits

FNSSUP304A Process superannuation rollover benefits

Updated to meet Standards for Training Packages

Equivalent unit

Release 

Comments 

Release 1

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