This unit describes the skills and knowledge required to establish and maintain a superannuation fund or plan. It encompasses interpreting fund or plan details, seeking specialist advice when necessary, establishing systems and administrative procedures to meet requirements, creating client records and updating plan designs.

It applies to individuals who use specialised industry knowledge and systematic approaches to thoroughly and accurately complete a range of tasks that meet organisational requirements.

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.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT	PERFORMANCE CRITERIA
Elements describe the essential outcomes.	Performance criteria describe the performance needed to demonstrate achievement of the element.
1. Interpret fund or plan details	1.1 Establish fund or plan according to instructions provided, and trust deed and relevant regulations 1.2 Clarify information on new fund or plan as required to ensure details are consistent with client requirements 1.3 Obtain specialist advice promptly to ensure comprehensive technical information is available as required
2. Create client records	2.1 Establish new client data in required format, according to organisational procedures and within required timeframes 2.2 Validate system data against original regularly to ensure accuracy
3. Update plan design	3.1 Amend fund documents and/or trust deeds in line with updated design specifications in compliance with relevant legislation and client requirements 3.2 Update and regularly validate systems processes to reflect changes in benefits, preserved amounts or other government changes 3.3 Update procedures, policies or operating guidelines in an accurate and timely manner 3.4 Promptly communicate changes to members

Evidence of the ability to:

interpret fund or plan details relevant to fund establishment, and seek specialist advice where identified

create client records within fund systems

update and maintain plan design, demonstrating overall understanding of applicability of fund procedures.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

outline the key features of plan design

describe the key features of trust deed fund or plan

identify the information required to set up a new plan

outline issues to consider in setting up a plan

outline steps to follow if insufficient information is provided or specialist advice is needed

outline the key features of organisational products and procedures.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the superannuation field of work and include access to:

common office equipment, technology, software and consumables

organisational financial records

organisational policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT	PERFORMANCE CRITERIA
Elements describe the essential outcomes.	Performance criteria describe the performance needed to demonstrate achievement of the element.
1. Interpret fund or plan details	1.1 Establish fund or plan according to instructions provided, and trust deed and relevant regulations 1.2 Clarify information on new fund or plan as required to ensure details are consistent with client requirements 1.3 Obtain specialist advice promptly to ensure comprehensive technical information is available as required
2. Create client records	2.1 Establish new client data in required format, according to organisational procedures and within required timeframes 2.2 Validate system data against original regularly to ensure accuracy
3. Update plan design	3.1 Amend fund documents and/or trust deeds in line with updated design specifications in compliance with relevant legislation and client requirements 3.2 Update and regularly validate systems processes to reflect changes in benefits, preserved amounts or other government changes 3.3 Update procedures, policies or operating guidelines in an accurate and timely manner 3.4 Promptly communicate changes to members

Evidence of the ability to:

interpret fund or plan details relevant to fund establishment, and seek specialist advice where identified

create client records within fund systems

update and maintain plan design, demonstrating overall understanding of applicability of fund procedures.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

outline the key features of plan design

describe the key features of trust deed fund or plan

identify the information required to set up a new plan

outline issues to consider in setting up a plan

outline steps to follow if insufficient information is provided or specialist advice is needed

outline the key features of organisational products and procedures.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the superannuation field of work and include access to:

common office equipment, technology, software and consumables

organisational financial records

organisational policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice	Yes	No	Comments/feedback
Establish fund or plan according to instructions provided, and trust deed and relevant regulations
Clarify information on new fund or plan as required to ensure details are consistent with client requirements
Obtain specialist advice promptly to ensure comprehensive technical information is available as required
Establish new client data in required format, according to organisational procedures and within required timeframes
Validate system data against original regularly to ensure accuracy
Amend fund documents and/or trust deeds in line with updated design specifications in compliance with relevant legislation and client requirements
Update and regularly validate systems processes to reflect changes in benefits, preserved amounts or other government changes
Update procedures, policies or operating guidelines in an accurate and timely manner
Promptly communicate changes to members

Assessment Cover Sheet

FNSSUP406 - Establish and maintain fund or plan

Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSSUP406 - Establish and maintain fund or plan

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: