The Redemption of Superannuation Funds Presented by.

The Redemption of Superannuation Funds

Presented by <name here>

Session Objectives

• Explain the Seven Steps of the Superannuation Redemption Process

• Demonstrate the screens on the ASGARD Production System (APS) which verify each step of the Superannuation Redemption

Process.

Learning Outcomes

By the end of this session participants will be able to;• Describe the Seven Step of the Superannuation Redemption

Process

• Define the APS screens which reflect each of the seven steps of

the Superannuation Redemption Process

Session Plan

Evaluation, Summary & Close 5

Question & Answer Forum5

Activity 410

Activity 310

Activity 210

Steps 5 to 7 - Actualised, Manual Authorisation & Finalised 15

Break 10

Steps 1 to 4 - Registraion, Eligibility, Hold & Redeeming25

Activity 110

Redepmtion of Superannuation Funds - Seven Step Process15

Welcome, Objectives and Session Plan 5

Subject Minutes

Redemption of Superannuation Funds

** 3. Hold - The request for more information from an Investor so as to prove that they are eligible to access their Superannuation funds

1. Registration

6. Manual Authorisation

5. Actualised

7. Finalised

4. Redeeming

** 3. Hold

Seven Step Process

2. Eligibility

5. Actualised - The requested sum (dollar amount) of Superannuation funds is completely

converted from Managed Funds & Shares into cash

4. Redeeming - The process of converting Managed Funds & Shares (Investor assets) into cash

6. Manual Authorisation - The preparation of Bank Files/Cheques so that funds held in cash can be

transferred to the Investor

2. Eligibility - The process of ensuring that an Investor has provided sufficient information

which proves that they are eligible to access their Superannuation Funds

1. Registration - The data entry of the redemption request details into the APS

7. Finalised - The redeemed funds and attached correspondence are forwarded to the Investor

** Step 3 (Hold) is to be omitted if the Investor has proved themselves eligible to access their funds in Step 2 (Eligibility)

Activity 1

Registration - The data entry of the redemption request details into the APS

Eligibility - The process of ensuring that an Investor has provided sufficient information proving that they are eligible to access their

Superannuation Funds

Hold - The request for more information from an Investor so as to prove that they are eligible to access their Superannuation funds

Redeeming - The process of converting Managed Funds & Shares (Investor assets) into cash

Manual Authorisation - The preparation of Bank Files/Cheques so that funds held in cash can be


Actualised - The requested sum (dollar amount) of Superannuation funds is completely


Finalised - The redeemed funds and attached correspondence are forwarded to the Investor

Here are the seven steps of the

Superannuation Redemption

Process.

You may have noticed that they are

not in their correct sequential order.

Place the steps in their correct

sequential order and record your

answers on page 6 of your

participant notes

3. Hold

1. Registration


5. Actualised

7. Finalised

Seven Step Process

2. Eligibility

1. Registration

1. Registration

2. Eligibility


5. Actualised

7. Finalised

4. Redeeming

3. Hold

1. Registration - The data entry of the redemption request details into the APS

Client Name & Account Number

Exit Type; Drawdown or Closure

Date Investor signed the Redemption Form

Total Amount Requested. Only

required if Drawdown

•The following details are extracted from Investor Redemption Form and entered into the APS

•The remainder of the details on this screen automatically populate on the APS

•This includes the Exit Status R REGISTRATION

Exit Status

2. Eligibility

1 Registration

2. Eligibility


5. Actualised

7. Finalised

4.Redeeming

3. Hold

2. Eligibility - The process of ensuring that an Investor has provided sufficient information

which proves that they are eligible to access their Superannuation Funds

•If the Investor states that they are Retired on their Redemption form, then they are Eligible to redeem their funds.

•The Exit Reason is stated as RT - Retirement on the APS

•In this instance the Superannuation Redemption Request proceeds to Step 4 - Redeeming

•If the Investor does not state that they are Retired on their Redemption form, then the Superannuation Redemption Request proceeds to Step 3 - Hold

Exit Reason Retirement

3. Hold

1. Registration

2. Eligibility


5. Actualised

7. Finalised

3. Hold

4. Redeeming

3. Hold - The request for more information from an Investor so as to prove that they are eligible to access their Superannuation funds

•If the Investor has not stated that they are Retired on their form, the Superannuation Redemption Request Exit Status is shown as H HOLD on the APS

•When the Investor forwards proof that they are Retired to ASGARD, the Superannuation Redemption proceeds Step 4 - Redeeming

Exit Status

4. Redeeming

1. Registration

2. Eligibility


5. Actualised

7. Finalised

3. Hold

4. Redeeming

4. Redeeming - The process of converting Managed Funds & Shares (Investor assets) into cash

•This Step is reflected by the Exit Status of R REDEEMING on the APS

Exit Status

5. Actualised

1. Registration

2. Eligibility


7. Finalised

4. Redeeming

3. Hold

5. Actualised

5. Actualised - The requested sum (dollar amount) of Superannuation funds is completely


•This Step is reflected by the Exit Status of A ACTUALISED on the APS

•A report is run each day which identifies the Superannuation Redemption Requests that are Actualised

•These requests proceed to the Manual Authorisation Step

Exit Status


1. Registration

2. Eligibility


5. Actualised

7. Finalised

3. Hold

4. Redeeming

6. Manual Authorisation - The preparation of Bank Files/Cheques so that funds held in cash can be


•The APS reflects an Exit Status of M MANUAL AUTHORISATION whilst the Cheque/Bank Files are being prepared

Exit Status

7. Finalised

1. Registration


5. Actualised

7. Finalised

4. Redeeming

3. Hold

2. Eligibility

7. Finalised - The redeemed funds and attached correspondence are forwarded to the Investor

•The APS reflects an Exit Status of F FINALISED when Redemption Payment Correspondence is forwarded to the Investor

Exit Status

Activity 2Answer the following questions by referring to the below-mentioned APS screen. Record your answers on Page 15 of your Participant Notes.

1 What is the Exit Status of this Superannuation Redemption Request?

2 What is the name and account number of this Client/Investor?

3 When was the Superannuation Redemption Request received into ASGARD?

4 Is this Superannuation Redemption Request a Drawdown or Closure payment?

Activity 2 Answers 1 What is the Exit Status of this Superannuation Redemption Request?

• Registration

2 What is the name and account number of this Client/Investor?

• Name: Miss Michelle A Glass

• Account Number: 5556667

3 When was the Superannuation Redemption Request received into ASGARD?

• 23/04/2004

4 Is this Superannuation Redemption Request a Drawdown or Closure payment?

• Closure Payment

Activity 3 Answer the following questions by referring to the below-mentioned APS screen. Record your answers on Page 17 of your Participant Notes.


2 The next step in the Superannuation Redemption Process for this payment will be

A Step 3 - Hold

B Step 2 - Eligibility

C Step 4 - Redeeming

D Step 5 - Actualised

Activity 3 Answers


• Eligibility

2 The next step in the Superannuation Redemption Process for this payment will be

A Step 3 - Hold

B Step 2 - Eligibility

C Step 4 - Redeeming

D Step 5 - Actualised

Activity 4

Indicate the Exit Status that is displayed on each of the APS screens

Record your answers on Page 19 of your Participant Notes.

Screen 1

Screen 2

Screen 3

Screen 4

Activity 4 Answers Screen 1

Screen 2

Screen 3

Screen 4

Redeeming

Actualised

Manual Authorisation

Finalised

Describe the Seven Step of the Superannuation Redemption Process

Define which ASGARD Production System (APS) screens reflect each of the seven steps of the Superannuation

Redemption Process

Learning Outcomes - RevisitedBy the end of this session participants will be able to.

Question and Answer Forum•Any final questions you would like answered?

Training Feedback Sheet •Please take two moments to complete the Evaluation Form which is located on Page 21 of your Participant notes.

•Upon completion, detach this page from your notes and hand it to the trainer

Thank you for attending•Please contact me on the following details if you have any further queries

Anne Genovese Phone: (08) 9415 5288e-mail: [email protected]

The Redemption of Superannuation Funds Presented by.

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