FPL201 Superannuation and Retirement Planning Strategies and Advice

Updated: 22 May 2019
Credit Points 6
Offering
Responsible Campus Teaching Period Mode of Study
Armidale Trimester 1 Online
Armidale Trimester 2 Online
Intensive School(s) None
Supervised Exam There is a supervised exam at the end of the teaching period in which you are enrolled. The exam will either be paper-based and offered at an established exam venue or online with supervision via webcam and screen sharing technology. Coordinated by UNE Exams Unit.
Pre-requisites candidature in BCom(FinPlan) and (FPL113 or FPL100)
Co-requisites None
Restrictions AFM367 or AFM467 or AFM567 or FIN202 or FIN302 or FPL501
Notes

This unit has been amended from Trimester 2 2019 to comply with FASEA National Planning Curriculum.

The unit title in Trimester 1 was Superannuation and Retirement Planning

Combined Units FPL501 - Superannuation and Retirement Planning Strategies and Advice
Coordinator(s)
Unit Description

From Trimester 2: This unit provides students with an understanding of the different phases of superannuation, and how it can be used to build a tax effective retirement nest egg. There is a focus on the optimal strategies that can be utilised to maximise a client's financial position at retirement and beyond. This unit addresses the rules and regulation of superannuation funds and the taxation implications for contributing to, retaining investments in, and withdrawing funds from the superannuation environment. The rules around superannuation are complex and nuanced and a key focus is appreciating the various strategies that can be adopted and the implications of each. Planning for retirement requires an understanding of not only the benefits to members but also includes an appreciation of the tax on superannuation death benefits. This unit will include topics that address who regulates super funds; who can contribute to super; how much can be contributed; taxation implications; responsibility of trustees; when super can be accessed; lump sum benefits versus pension benefits; retirement planning strategies and taxation on death benefits.

For Trimester 1: This unit provides students with an understanding of the different phases of superannuation, their regulation and the taxation implications for contributing to superannuation, retaining investments in superannuation and withdrawing funds from superannuation.

This unit will include study topics that address who regulates super funds; who can contribute, to super; how much can be contributed; taxation implications; responsibility of trustees; when super can be accessed; lump sum benefits versus pension benefits; retirement planning strategies and taxation on death benefits.

Materials No text required
Disclaimer Unit information may be subject to change prior to commencement of the teaching period.
Assessment
Must
Complete
Title Exam Length Weight Mode No. Words
Compulsory Client Simulation 30% Trimester 1 only 1500
Assessment Notes

Financial planning case study.

Relates to Learning Outcomes (LO)

LO: 1-5

Compulsory Online Assessment 30% Trimester 1 only 1500
Assessment Notes

Online test comprising short answer and multiple choice questions.

Relates to Learning Outcomes (LO)

LO: 1-3

Compulsory Online Assessment 15% Trimester 2 and 3 only 1500
Relates to Learning Outcomes (LO)

LO: 1-2

Compulsory Strategy Advice 40% Trimester 1 only 3000
Assessment Notes

This assessment requires students to generate one or more solutions to meet a client's goals.

Relates to Learning Outcomes (LO)

LO: 1-5

Compulsory Strategy Advice 35% Trimester 2 and 3 only 2000
Assessment Notes

Individual or Group (max 3)

Relates to Learning Outcomes (LO)

LO: 1-5

Compulsory Final Examination 2 hrs 15 mins 50% Trimester 2 and 3 only
Relates to Learning Outcomes (LO)

LO: 3-6


Learning Outcomes (LO) Upon completion of this unit, students will be able to:
  1. LO 1 Trimester 1: correctly apply the contribution rules and restrictions to individual client circumstances;
  2. LO 2 Trimester 1: demonstrate an understanding of the operation of the different levels of taxation in the superannuation environment;
  3. LO 3 Trimester 1: understand and interpret the different member benefits, and recognise the wider implications of withdrawal decisions;
  4. LO 4 Trimester 1: critically analyse the Pension Benefit Caps and Transfer Balance Account rules for given client scenarios; and
  5. LO 5 Trimester 1: interpret superannuation rules in order to construct an advice solution for a given client scenario.
  6. LO 1 Trimester 2 & 3: demonstrate an in-depth understanding of the key components of the 3 phases of superannuation and the operation of the different levels of taxation in the superannuation environment in the provision of financial advice;
  7. LO 2 Trimester 2 & 3: apply relevant superannuation legislation including the Superannuation Industry (Supervision) Act 1993 and the Australian superannuation contribution rules and restrictions, to individual client circumstances;
  8. LO 3 Trimester 2 & 3: use cognitive and communication skills to analyse, interpret and apply superannuation rules in order to construct an advice recommendation for a given client scenario, and examine the different types of superannuation retirement products in client specific situations;
  9. LO 4 Trimester 2 & 3: evaluate the variety of superannuation structures including Self-Managed-Superannuation Funds (SMSF's);
  10. LO 5 Trimester 2 & 3: demonstrate an understanding of the Pension Benefit Caps and Transfer Balance Account rules and how it applies to given client scenarios to interpret the wider implications of withdrawal decisions; and
  11. LO 6 Trimester 2 & 3: demonstrate the ability to recognise, reflect on and respond to changing demographics and social factors as they relate to superannuation issues.