Elements and Performance Criteria
- Interpret fund or plan details
- Obtain specialist advice as appropriate
- Establish systems and administrative procedures to meet requirements
- System and administrative procedures are designed, tested and implemented to achieve specified performance targets effectively, reliability and within capacity
- Appropriate systems, procedures, policies or operating guidelines are comprehensively documented
- Responsibility for ongoing administration is assigned to appropriate personnel
- Create client records
- Update plan design
- Fund documents and/or trust deeds are amended in line with updated design specifications in compliance with relevant legislation and client requirements
- Systems processes are updated and regularly validated to reflect changes in benefits, preserved amounts or other government changes
- Procedures, policies or operating guidelines are updated in an accurate and timely manner
- Changes are promptly communicated to members