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Elements and Performance Criteria

1. Identify and manage legislative and organisational reporting requirements
   • Identify sources of information on legislative and organisational reporting requirements
   • Identify relevant legislative and organisational reporting requirements that impact on administrative processes and procedures
   • Seek specialist advice from other service providers on areas outside of knowledge area and authority limits to prepare reports required
   • Review accuracy, thoroughness and timing of reporting procedures against legislative and organisational requirements
   • Prepare necessary documentation that meets legislative and organisational reporting requirements
2. Manage transactions
   • 2.1 Review trustee's instructions to confirm that transaction(s) can be undertaken and meet legislative, trust deed and organisational requirements
   • Liaise with external service providers, where relevant, to validate that trustee instructions have been implemented
   • Confirm monies received from investments are reinvested in accordance with trustee and trust deed instructions
   • Confirm accuracy and timelines of allocations, processing of contributions and rollovers and all other payments into fund are in accordance with legislative and operational guidelines
   • Reconcile contributions to ensure they have been allocated in accordance with trustee instructions
   • Review accuracy and timelines of benefit payments out of fund and action in accordance with legislative and operational guidelines
3. Manage complaints
   • Confirm with trustee(s) details of their complaints regarding service provided internally or by external service provider
   • Respond to trustee in timely manner and in accordance with legislative and operational procedures
4. Manage member records
   • 4.1 Review member's employment records to ensure currency of information on contributions
   • Process and review member statements and ensure supporting documentation is supplied when required
   • Issue and store copies of documentation to ensure compliance with organisational policy and procedures
5. Ensure annual returns are lodged
   • Complete annual review process accurately, thoroughly and in time, in accordance with legislative and operational requirements
   • Complete trustee reporting, member reporting and insurance reporting accurately, thoroughly and in time, in accordance with legislative and operational requirements
   • Complete Australian Taxation Office (ATO) annual return and independent auditor report accurately, thoroughly and in time, in accordance with legislative and operational requirements

Performance Evidence

Evidence of the ability to:

prepare an annual report that complies with legislative and organisational reporting requirements

identify and liaise with other service providers as required to manage administration activities and settle disputes

manage trustee complaints regarding the internal or external services provided

process payments into and out of the fund according to legislative and organisational guidelines and basic accounting practices

reconcile transactions with fund accounts

produce a member statement.

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

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Knowledge Evidence

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

explain the organisational dispute resolution procedures

explain Australian Taxation Office (ATO) annual reporting requirements

describe external complaint handling procedures

describe legislative and organisational record-keeping and reporting requirements

explain the trust deed and legislative requirements in regards to managing the administration activities of a self-managed superannuation fund

identify the components of a superannuation rollover

identify the types of contributions

specify the documentation requirements of superannuation contributions or rollovers

identify and describe the consequences of incorrect allocation of member contributions

identify factors which may require further investigation

describe fund policy, investment objectives and guidelines

compare preservation rules (before and after July 1999)

explain the contributions caps

describe procedures for calculating and processing benefits.

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