Get up to speed with Australia’s superannuation framework. Draw on current trends in retirement financing, your knowledge of financial products, and tax rules to develop effective retirement strategies. Strive to work ethically and provide good advice.
Established in 1991 after amalgamating four eastern Australian Catholic tertiary institutes, Australian Catholic University now has seven campuses, from Brisbane to Melbourne and welcomes students of all beliefs. Specialising in arts, business, education, health sciences, law, theology and philosophy, ACU encourages its students to think critically and ethically and bring change to their communities and offer this online through Open Universities Australia.
Superannuation framework in Australia has been undergoing major changes over the past three decades. An increasingly ageing workforce, governments’ chronic budget deficits and impetus to progressively reduce social security costs spurs employees to take charge of their retirement at earlier ages. Providing advice for retirement emerged as one of the major components of the financial services sector.
This subject examines the changing nature of retirement from the perspective of personal financial preparation for retirement. As such, the four pillars for a retirement savings system are considered along with their interactions and optimal retirement savings strategies. The subject focuses on issues relating to superannuation contributions, regulatory framework, different types of superannuation funds, the rules relating to taxation and accessing of benefits, alternative retirement income stream of products, and strategies designed to enhance superannuation and retirement income benefits. The social security and taxation implications associated with investment options are also considered. The subject enables a comprehensive engagement with the superannuation system in Australia so as to facilitate the development of superannuation strategies to achieve lifestyle expectations upon retirement. This subject also provides an overview of the procedures and theories related to retirement planning. The subject aims to provide students with an understanding of the Australian superannuation system, trends in retirement financing policies, relevant legislation and regulatory frameworks, financial products and taxation so that they can develop effective retirement strategies.
Assessments are used primarily to foster learning. ACU adopts constructivist approach to learning, which requires alignment of learning outcomes, teaching, learning and assessment and the environment in which learning occurs. Assessment is an integral part of the learning process. Assessment tasks in this subject are aimed at measuring and developing student’s achievement of both the learning outcomes and graduate attributes noted above. In this subject there are multiple forms of formative assessment for a student to assess their progress against the learning objectives as well as three (3) main pieces of summative assessment.