Retirement and Estate Planning
Overview
The unit aims to develop an understanding of retirement planning with a particular focus on the superannuation industry and estate planning. Students are introduced to the complex world of superannuation saving industries in Australia and the process of transferring this wealth into a retirement plan. Government regulations and policies applicable to the superannuation industry and estate planning will be discussed. The unit will cover topics such as superannuation funds, regulatory framework, investment decisions, superannuation taxation issues, allocated pensions, power of attorney, succession planning and the taxation implications of death benefits.
Requisites
Learning outcomes
Students who successfully complete this unit will be able to:
- Demonstrate an understanding of the nature of the Australian superannuation industry and evaluate a range of retirement products and structures
- Demonstrate a specialist knowledge of taxation on superannuation funds and the impact of the various regulatory bodies on the financial planning industry
- Develop strategies and recommendations on superannuation and retirement planning based on clients’ specific requirements
- Demonstrate an understanding of the estate planning process and evaluate the role of powers of attorney, estate planning, trusts, wills and taxation implications of death benefits
- Work effectively in teams
Teaching methods
Hawthorn
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| Face to Face Contact (Phasing out) Class | 2.00 | 12 weeks | 24 |
| Unspecified Learning Activities (Phasing out) Independent Learning | 9.50 | 12 weeks | 114 |
| Face to Face Contact (Phasing out) Tutorial | 1.00 | 12 weeks | 12 |
| TOTAL | 150 |
Swinburne Online
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| Online Directed Online Learning and Independent Learning | 12.50 | 12 weeks | 150 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| Assignment 1 | Individual | 20 - 30% | 3,4 |
| Assignment 2 | Group | 20 - 30% | 1,2,3,4,5 |
| Examination | Individual | 40 - 60% | 1,2,3,4 |
Content
- Background of Australia superannuation system and regulation
- Types of superannuation funds and taxation
- Contributions and transfers to superannuation funds
- Superannuation guarantee scheme
- Self-managed superannuation funds
- Superannuation benefit payments and provision/conditions to release
- Social security safety net
- Estate planning process
- Testamentary Trusts and Incapacity planning
- Business succession planning
- Retirement planning issues: death, divorce, complaints and others
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.