Overview
This unit covers the regulatory framework of superannuation and the role of financial advisor in retirement and superannuation planning. You will examine the legal and taxation issues related to long term wealth creation and the operation of superannuation funds. You will apply the skills required for managing the client relationship and construct a strategic retirement plan for a client situation.
Details
Pre-requisites or Co-requisites
Pre-requisite: FINC11001 plus Co-requisite: LAWS19033
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 1 - 2019
Attendance Requirements
All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure – International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback – Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from Student feedback
Setting a word limit on assessments would be better
If the course is re-offered, a word limit is to be imposed upon the assessment item.
- Explain contemporary retirement and superannuation issues
- Apply taxation and legal principles to long term wealth creation
- Explain issues relating to self-managed superannuation funds
- Construct pre and post strategic retirement plans.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Practical Assessment - 50% | ||||
| 2 - Examination - 50% | ||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Communication | ||||
| 2 - Problem Solving | ||||
| 3 - Critical Thinking | ||||
| 4 - Information Literacy | ||||
| 5 - Team Work | ||||
| 6 - Information Technology Competence | ||||
| 7 - Cross Cultural Competence | ||||
| 8 - Ethical practice | ||||
| 9 - Social Innovation | ||||
| 10 - Aboriginal and Torres Strait Islander Cultures | ||||
Alignment of Assessment Tasks to Graduate Attributes
| Assessment Tasks | Graduate Attributes | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
| 1 - Practical Assessment - 50% | ||||||||||
| 2 - Examination - 50% | ||||||||||
Textbooks
Australian Superannuation Handbook 2018-19
Edition: 77th (2019)
Authors: Stuart C Jones
Thomson Reuters
Sydney Sydney , NSW , Australia
ISBN: 9780864698339
Binding: Paperback
Financial Planning
Edition: 2nd (2018)
Authors: Warren McKeown, Mike Kerry, Marc Olynyk
John Wiley & Sons Australia, Ltd
New York New York , United States
ISBN: 9781118644836
Binding: Paperback
Additional Textbook Information
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- XPlan software to complete Practical Assessment 1
All submissions for this unit must use the referencing style: American Psychological Association 6th Edition (APA 6th edition)
For further information, see the Assessment Tasks.
a.mcinnes@cqu.edu.au
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Superannuation funds
MySuper
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Taxation of superannuation
Choice of fund
Chapter
6 and 9
Events and Submissions/Topic
Module/Topic
Contributions
Superannuation guarantee
Chapter
7 and 8
Events and Submissions/Topic
Module/Topic
Completing the practical assessment
Chapter
Events and Submissions/Topic
Module/Topic
Investment rules
Chapter
11
Events and Submissions/Topic
Module/Topic
Taxation of funds
Chapter
12
Events and Submissions/Topic
Module/Topic
Member benefits
Payment of benefits
Taxation of benefits
Chapter
13, 14 and 15
Events and Submissions/Topic
Module/Topic
Pensions and annuities
Chapter
16
Events and Submissions/Topic
Module/Topic
Death Benefits
Chapter
17
Events and Submissions/Topic
Module/Topic
Family law and superannuation
Chapter
18
Events and Submissions/Topic
PRACTICAL ASSESSMENT: Retirement and Superannuation Due: Week 11 Tuesday (28 May 2019) 12:00 am AEST
Module/Topic
Employment termination payments
Other employment termination-related payments
Revision
Chapter
19 and 20
Events and Submissions/Topic
Module/Topic
Exam preparation
Chapter
Events and Submissions/Topic
Module/Topic
All the best for the exams and your future.
Chapter
Events and Submissions/Topic
For the Practical Assessment students will be introduced to the basic workings of XPlan web-based software and be expected to complete some of the Assessment tasks within XPlan. Learning XPlan is a self-study exercise using the available resources (YouTube videos, help guides and tutorials) placed on Moodle to assist. Your lecturer is also available to help guide the learning of XPlan software if asked during the term.
For the Examinations, students will be expected to complete 10 five mark questions to add to a total grade of 50 marks. Each five mark question can have sub-parts. The Examination Advice will be available by Week 10.
1 Practical Assessment
This is an individual assessment.
Important detailed information for your assessment is on the Moodle site.
Before you begin, please read the:
- instructions for completing and submitting your assessment.
- case study background.
Task requirements:
- Identify the client's objectives, needs and financial situation by reviewing the case study background and fact find information provided. Input this information into XPlan software and download the created Fact Find document.
- Analyse and score the risk profile of the client within the context of the client's objectives, needs and financial situation.
- Using the reflective questions, develop and document appropriate superannuation and retirement strategies, as well as recommendations to achieve the client's goals.
- Conductin financial modelling in either the financial planning software XPlan, Microsoft-Excel and/or related software [Links to XPlan login is available to you via Moodle].
- Prepare a written Statement of Advice using the template provided.
- Login details to Xplan
- Fact find information assumedly obtained during a meeting with the client.
- Risk profile information of the client.
- Reflective questions to assist in the analysis phase of the financial planning process. Here you ware expected to provide in-text references from financial planning literature and websites of the sources of your information you ave used to justify you recommendations.
- Statement of Advice template to create your recommendations to the client.
This is a practical assessment dealing with real world financial planning clients' superannuation and retirement needs. Please start this assessment as soon as possible, because for some of you it will require learning numerous new skills. Learning how to use new software [for instance, XPlan] may need sometime and practice. Your lecturer is available via Facebook Closed Group, Moodle discussion forum and Q&A forum, and mobile phone messaging, as well as email to address any concerns or difficulties during the term as you work on your Assessment. Please refer to Moodle and download all three files relating to this Assessment’s requirements. Please read these long documents carefully.
Importantly, please make a concerted effort to engage with your lecturer as soon as you are finding yourself struggling through the course materials and/or assessment tasks. Also if any personal matters are interfering with progress in your studies, please contact your lecturer so that she can support you as per CQU policies and procedures to ensure you succeed in this unit.
Week 11 Tuesday (28 May 2019) 12:00 am AEST
Submission via Moodle
Review/Exam Week Tuesday (11 June 2019)
Feedback via Moodle
Find on Moodle a comprehensive marking criteria sheet. We award marks for:
- Completing and downloading in Microsoft-Word format the Fact Find within the context of the client's objectives, needs and financial situation in XPlan.
- Scoring the client’s risk profile within XPlan and incorporating this information in your financial plan (Statement of Advice).
- Documenting reflective answers in Microsoft-Word to demonstrate critical in-depth analysis, plus effective use of the calculation and software tools to underpin the investment and managed fund recommendations.
- Statement of Advice completion using the Microsoft-Word template provided.
- Explain contemporary retirement and superannuation issues
- Apply taxation and legal principles to long term wealth creation
- Explain issues relating to self-managed superannuation funds
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
- Team Work
- Information Technology Competence
- Cross Cultural Competence
- Ethical practice
Examination
Calculator - all non-communicable calculators, including scientific, programmable and graphics calculators are authorised
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
