Unit of competency Outline

Date retreived
23/07/2026 6:00 PM AWST

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Process superannuation contributions

Process superannuation contributions

Unit of competency
National Code
FNSSUP303
State Code
AUT19
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081105 - Investment And Securities
Original Release Date
16/09/2015
Nominal Hours
20
Description
This unit describes the skills and knowledge required to receive and process superannuation contributions and incoming payments, and ensure correct funds are allocated to accounts.It applies to individuals who, within their level of authority, apply specialised organisational and industry knowledge and follow defined procedures to process information and ensure quality standards are maintained.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Identify types of contributions and their processes
  • 1.1 Identify and record contribution types and sources
  • 1.2 Identify potential errors in processing contribution types
2. Receive superannuation contributions
  • 2.1 Establish new accounts and check for eligibility
  • 2.2 Receive and check superannuation contributions and accompanying documents to ensure information is complete and correct
  • 2.3 Issue contribution receipt according to organisational procedures and regulatory requirements
  • 2.4 File documentation according to organisational procedures
  • 2.5 Process contributions for banking according to organisational procedures
3. Receive rollover benefit statements (RBSs)
  • 3.1 Check RBSs received against eligibility requirements
  • 3.2 Check documentation is complete and process accordingly
4. Identify and manage contribution and RBS errors or incompletions
  • 4.1 Identify errors in contributions and/or documentation
  • 4.2 Return documentation or obtain required information to rectify errors or omissions
  • 4.3 Send employer contribution reminders as required
  • 4.4 Action incomplete or incorrect contributions according to organisational requirements
  • 4.5 Reconcile incomplete or incorrect contributions and process when required information is obtained
5. Allocate contributions according to contribution type
  • 5.1 Allocate contributions in accordance with member and employer requirements
  • 5.2 Complete processing according to organisational procedures
6. Follow quality assurance procedures
  • 6.1 Follow organisational procedures to ensure all work is completed accurately
  • 6.2 Maintain member details in accordance with organisational requirements
  • 6.3 Implement system, process checks and identify any irregularities
  • 6.4 Correct any irregularities or communicate to appropriate personnel
No information
No information
Replaces
State Code National Code Title Type
D9451 FNSSUP303A Process superannuation contributions Unit of competency
Replaced By
State Code National Code Title Type
OCI41 FNSSUP313 Process superannuation fund contributions Unit of competency