Unit Outline

This unit provides background information on the demographic trends in Australia and gives an overview of the compulsory superannuation system that operates within Australia. Within the financial planning industry, retirement planning forms an important part of advisory services. This unit will enhance your knowledge of the matters relating to superannuation and retirement planning for advisors in the financial services industry. The unit examines both the merits and processes in investing in superannuation for retirement purposes. Working through this unit should help you understand the dynamics determining the responsibilities of investing with superannuation and the range of investment and legislative implications. The unit will cover other important considerations necessary for participants of the superannuation industry and features including, taxation concessions, allowable contributions and income streams, setting up and winding down a SMSF, estate planning and social security.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1	Describe superannuation in the Australian context.
2	Analyse and calculate the taxation implications re superannuation.
3	Evaluate retirement and superannuation products including Socially Responsible Investing (SRI) and make appropriate choices for client specific situations.
4	Develop strategies and provide advisory recommendations on superannuation and retirement planning.
5	Explain the Social Security environment with respect to superannuation and retirement planning.

Alterations as a result of student feedback

To Be Determined.

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Test	Week 9	25 %	LO1, LO3, LO5
Assessment Task 2:	Application Questions and Case Study	Refer to Assessment Description	35 %	LO1, LO2, LO3, LO4, LO5
Assessment Task 3:	Capstone project	Refer to Assessment Description	40 %	LO2, LO3, LO4

Assessment details

Assessment Task 1: Test

Task Description:

The test requires you to complete a closed book assessment comprised of a series of theoretical and practical questions including short answer and mini case studies.

Task Length:

One hour

Due Date:

Week 9

Weight:

25 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Demonstrate knowledge and understanding of superannuation in the Australian context	LO1
2	Evaluate the variety of superannuation structures including SRI.	LO3
3	Examine the variety of retirement and superannuation products including SRI and apply these to client specific situations.	LO5

Assessment Task 2: Application Questions and Case Study

Task Description:

During the semester, we will formally assess your individual responses submitted to MyLO for a minimum of two sets of application questions each consisting of 3 activities and one case study. Assessments weeks will be 3, 6 and 11.

Task Length:

3x 600 words per activity + 900 words case study

Due Date:

Refer to Assessment Description

Weight:

35 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Explain and answer the case study questions within the Australian superannuation context	LO5
2	Describe the accommodation alternatives in retirement	LO1
3	Understand the taxation implications re superannuation	LO2
4	Examine the variety of retirement and superannuation products including SRI and apply these to client specific situations.	LO3
5	Develop strategies and provide advisory recommendations on superannuation, retirement planning and social security.	LO4

Assessment Task 3: Capstone project

Task Description:

This is a capstone assessment paraplanning report where students will be provided with a client scenario across accumulation phase, pension phase and a SMSF. Students will be asked to provide strategies that meet the requirements of the clients.

Due Date: Exam Period.

Task Length:

2000 words

Due Date:

Refer to Assessment Description

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Construction of a scoped financial plan with a role play presentation	LO3
2	Identify the taxation implications in strategies developed	LO2
3	Develop strategies and provide advisory recommendations on superannuation and retirement planning.	LO4

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

Taylor, S, Juchau, R 2021, Financial Planning in Australia: Advice and Wealth Management 10th edition Administration, LexisNexis Butterworths, Sydney