The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!
From the Wiki University
What evidence can you provide to prove your understanding of each of the following citeria?
Process transactions
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Receive and respond to client enquiries for access to a lump sum from an income stream, including notification of the client’s death, and document according to organisational procedures Completed |
Evidence:
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Assess the circumstance and type of income stream to determine if it can be commuted, terminated or permits partial withdrawals or, in the case of the death of the client, if a reversionary pension or payment to the client’s estate is available Completed |
Evidence:
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Assess whether a client is exercising their rights under the cooling off period Completed |
Evidence:
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Determine whether the client is requesting a full or partial withdrawal or commutation from the income stream Completed |
Evidence:
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Complete and action fund documentation
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Record information and send additional information to the client or approved representative to process required action in accordance with organisational procedures Completed |
Evidence:
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Process reversionary pension and/or other payments to the client’s estate, in the event of the client’s death, on receipt of appropriate documentation and apply claim staking processes where required Completed |
Evidence:
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Contact the relevant person to obtain complying benefit payment request where payments are requested to be made to a third party Completed |
Evidence:
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Action client request to roll over a lump sum to another superannuation fund in accordance with organisational procedures Completed |
Evidence:
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Establish a new reversionary income stream resulting from the termination of a client’s income stream in accordance with organisational procedures Completed |
Evidence:
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Follow organisational procedures where a partial withdrawal from an account based pension by the client results in a breach of the minimum and maximum range for the income stream Completed |
Evidence:
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Determine taxable component of terminated income stream
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Establish the client’s age to determine whether tax is payable where the lump sum is a full or part withdrawal or commutation paid to the client Completed |
Evidence:
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Use Australian Tax Office (ATO) guidelines to confirm dependency status and age of beneficiaries or estate recipients where a lump sum is payable Completed |
Evidence:
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Follow organisational procedures regarding payment of a tax anti-detriment adjustment where a lump sum is payable to beneficiaries or the estate Completed |
Evidence:
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Calculate appropriate tax component according to legislative requirements and record in appropriate system in line with organisational procedures Completed |
Evidence:
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Prepare documents and forward to appropriate personnel for checking in line with organisational procedures Completed |
Evidence:
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Forward information and payments to appropriate parties
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Determine entitlements within authority levels and obtain sign off Completed |
Evidence:
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Send information, depending on payment type, to the client, their nominated rollover fund, beneficiary or client’s legal representative according to organisational and legislative requirements Completed |
Evidence:
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Communicate with clients, beneficiaries and client’s legal representative according to organisational procedures Completed |
Evidence:
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File copies of documents correctly and in a timely manner Completed |
Evidence:
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Respond to enquiries from clients and other persons entitled to make an enquiry
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Determine identity and authority of person making enquiry in respect of a client’s income stream Completed |
Evidence:
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Treat enquiries from clients and other parties professionally and provide required information according to organisational and legislative requirements Completed |
Evidence:
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Refer complex enquiries to appropriate personnel Completed |
Evidence:
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Follow quality assurance procedures
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Follow organisational procedures to ensure all work is completed accurately Completed |
Evidence:
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Comply with regulations and legislation determining payment of a lump sum from an income stream Completed |
Evidence:
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Implement system and process checks and identify any irregularities Completed |
Evidence:
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Correct any irregularities or communicate to appropriate personnel Completed |
Evidence:
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