Assessor Resource

FNSSUP421
Process superannuation benefits and insurance claims under special conditions of release

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to receive and ensure correct allocation of funds regarding superannuation benefit payment and insurance claims. Conditions would include claims for death, total and permanent disability (TPD), income protection, terminal illness payment, situations of severe financial hardship, or situations warranting early release on compassionate grounds.

The unit applies to those who use specialised industry knowledge and analytical skills to evaluate and process complex information and data following defined procedures.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

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


Evidence Required

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.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

process at least two superannuation benefit claims and/or insurance claims made under special conditions of release.

In the course of the above, the candidate must:

follow conditions contained in the trust deed and organisational requirements

manage applications and claim errors

calculate payments, including taxation requirements as required.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

taxation requirements for:

death

deductions for payments

financial hardship payment

income protection

terminal illness benefit

total and permanent disablement benefits

organisational policies, procedures and objectives relating to processing complex superannuation benefit and insurance claims

differences between payment types

documentation requirements for processing death and disability payments

procedures and information requirements to assess, calculate and process benefits for lump sum payments, death claims and disablement claims

conditions applying to trust deeds and legal implications

steps and procedures for:

assessing claims and calculating and processing payments

monitoring pension and annuity payments.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

organisational equipment, technology, software and consumables

organisational policies and procedures.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Submission 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)

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.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

process at least two superannuation benefit claims and/or insurance claims made under special conditions of release.

In the course of the above, the candidate must:

follow conditions contained in the trust deed and organisational requirements

manage applications and claim errors

calculate payments, including taxation requirements as required.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

taxation requirements for:

death

deductions for payments

financial hardship payment

income protection

terminal illness benefit

total and permanent disablement benefits

organisational policies, procedures and objectives relating to processing complex superannuation benefit and insurance claims

differences between payment types

documentation requirements for processing death and disability payments

procedures and information requirements to assess, calculate and process benefits for lump sum payments, death claims and disablement claims

conditions applying to trust deeds and legal implications

steps and procedures for:

assessing claims and calculating and processing payments

monitoring pension and annuity payments.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

organisational equipment, technology, software and consumables

organisational policies and procedures.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
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
Identify benefit types to determine relevant steps for processing benefit 
Acknowledge receipt of application for superannuation benefit payment and insurance claim 
Document receipt according to organisational policies and procedures 
Check application, claim and organisational documentation and confirm information is complete and correct 
Check application for eligibility 
Verify signature on application with original documents 
Identify errors and incomplete application and/or claim 
Action incomplete or incorrect application and/or claim according to organisational requirements 
Prepare application and/or claim for processing when required information is obtained 
Check application against conditions identified in trust deed and organisational policies and procedures 
Source additional information as required from relevant personnel 
Check trust deed for defined beneficiaries and communicate with relevant stakeholders as required 
Calculate benefit to include additional fees, charges and other factors, using relevant digital systems 
Check information, including taxation and calculation results, for integrity 
Prepare rollover documentation for provision to members, Australian Taxation Office (ATO) and rollover funds 
Process application according to conditions identified in trust deed, relevant legislation and organisational policies and procedures 
Pay benefit according to organisational policies and procedures 
Provide statements and claim correspondence to member according to organisational guidelines and compliance requirements 
Document processes and outcomes of application and/or claim in member file 
Provide procedure for complaints to member as required 

Forms

Assessment Cover Sheet

FNSSUP421 - Process superannuation benefits and insurance claims under special conditions of release
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

FNSSUP421 - Process superannuation benefits and insurance claims under special conditions of release

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: