Unit of competency Outline

Date retreived
24/07/2026 12:28 AM AWST

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Establish and maintain superannuation accumulation funds

Establish and maintain superannuation accumulation funds

Unit of competency
National Code
FNSSUP416
State Code
OCI37
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
04/11/2020
View on TGA
State Implementation and Classification
Approved Date
11/03/2021
Field of Education
081105 - Investment And Securities
Original Release Date
11/03/2021
Nominal Hours
65
Description
This unit describes the skills and knowledge required to establish and maintain a superannuation accumulation fund for a member. It involves interpreting fund details, seeking specialist advice when necessary, establishing systems and administrative procedures to meet requirements, creating client records and updating fund details.The unit applies to those who, within their level of authority, apply specialised industry and organisational knowledge and follow defined procedures to process and update information.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Interpret superannuation accumulation fund details
  • 1.1 Obtain client instructions
  • 1.2 Establish fund according to instructions provided, trust deed and required regulations
  • 1.3 Clarify information on new fund as required and ensure details are consistent with client requirements
  • 1.4 Obtain specialist advice and ensure comprehensive technical information is available when required
2. Create client records
  • 2.1 Establish new client data in required format and within required timeframes, according to organisational policies and procedures
  • 2.2 Regularly review and validate system data against client instructions
  • 2.3 Identify and update fund details as required and according to organisational policies and procedures
3. Update fund details
  • 3.1 Amend fund documents and trust deeds according to updated design specifications and in compliance with legislative and client requirements
  • 3.2 Update and validate system processes to reflect changes in benefits, preserved amounts and other government changes
  • 3.3 Update operational procedures, policies and operating guidelines relating to establishing superannuation funds as required
  • 3.4 Communicate changes to fund details to members
No information
No information
Replaces
State Code National Code Title Type
AUT24 FNSSUP406 Establish and maintain fund or plan Unit of competency
State Code National Code Title Type
BFX1 FNS40920 Certificate IV in Superannuation Qualification