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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Interpret superannuation accumulation fund details
   • Obtain client instructions
   • Establish fund according to instructions provided, trust deed and required regulations
   • Clarify information on new fund as required and ensure details are consistent with client requirements
   • Obtain specialist advice and ensure comprehensive technical information is available when required
   • Establish new client data in required format and within required timeframes, according to organisational policies and procedures
   • Regularly review and validate system data against client instructions
   • Identify and update fund details as required and according to organisational policies and procedures
   • Amend fund documents and trust deeds according to updated design specifications and in compliance with legislative and client requirements
   • Update and validate system processes to reflect changes in benefits, preserved amounts and other government changes
   • Update operational procedures, policies and operating guidelines relating to establishing superannuation funds as required
   • Communicate changes to fund details to members

Performance Evidence

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:

establish and update superannuation accumulation fund details for at least three different clients

seek specialist advice in relation to at least one of the above client’s requirements.

In the course of the above, the candidate must:

interpret fund details relevant to fund establishment.

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Knowledge Evidence

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:

legislative and regulatory requirements relating to establishing and maintaining superannuation accumulation funds, including for providing factual information or general advice in superannuation

organisational policies and procedures relating to establishing and maintaining funds, including for:

using organisational systems

seeking further information on fund details

seeking specialist advice

updating fund details

key features of trust deeds for superannuation funds

information required to set up new superannuation funds and issues to consider

difference between providing factual information, general advice and personal advice in superannuation.

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