Pre-2015 Handbook
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  2. Superannuation and Retirement Planning [ECF3211]

Faculty of Regional Professional Studies (Bunbury)

School: Regional Professional Studies

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Superannuation and Retirement Planning

  • Unit Code

    ECF3211

  • Year

    2015

  • Enrolment Period

    1

  • Version

    2

  • Credit Points

    15

  • Full Year Unit

    N

  • Mode of Delivery

    Online

Description

This unit examines retirement income planning from the perspective of the individual and for its implications for the wider economy. The unit considers the approaches employed worldwide for retirement income provision with a particular focus on the Australian superannuation system and its sustainability. The history of age pension provision internationally is recounted, and the issues associated with changing demographic profiles are examined. The sections on the Australian superannuation industry are focused on industry structure, service providers, relevant legislation, retirement income products and taxation.

Prerequisite Rule

Students must pass 1 units from ECF1120

Learning Outcomes

On completion of this unit students should be able to:

  1. Assess recent evidence on individual investment and fund choice within superannuation in Australia and its implication for retirement benefits.
  2. Contrast the features of the range of retirement income streams including those offered by the social security system and assess eligibility for benefits offered and explain the rules relating to these benefits.
  3. Describe the role of the three pillars of the retirement income system.
  4. Identify alternative means of contributing to superannuation and rules governing these contributions and explain how superannuation contributions, income and benefits are taxed.
  5. Identify risks inherent in all aspects of retirement planning decisions and their implications for asset allocation in listed and sustainable assets.
  6. Identify the major regulators and legislation of consequence for the retirement income and superannuation system and examine and compare alternative superannuation fund types and structures.
  7. Identify the responsibilities of superannuation trustees.
  8. Outline alternative service providers in the delivery of superannuation products, principally fund administrators, insurers, investment managers, consultants, custodians, auditors, actuaries, solicitors, financial advisers and of course employers.
  9. Outline demographic trends in Australia and assess these impacts on the retirement income system and the wider economy and society.
  10. Propose ways you can apply principles of sustainability to superannuation.
  11. Understand the development of the Australia retirement income system in the 19th and 20th century.

Unit Content

  1. Asset allocation and retirement investment.
  2. Australian social security system.
  3. Australian superannuation industry and legislative framework.
  4. Australian superannuation trustee investment issues.
  5. Dealing with the "ageing crisis".
  6. Historical and current international approaches for retirement income provision.
  7. Investment, fund choice and individual decisions at retirement.
  8. Retirement income products in Australia.
  9. Superannuation fund structures in Australia.
  10. Superannuation product delivery by service providers.
  11. Taxation of superannuation.

Additional Learning Experience Information

This unit is delivered in the online mode. Learning materials are delivered via Blackboard. Students are guided through a series of learning activities designed to prepare them for the assessments.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

ON CAMPUS
TypeDescriptionValue
PresentationStudent presentation10%
AssignmentAssignment30%
Examination ^Final Examination60%
ONLINE
TypeDescriptionValue
PresentationStudent presentation10%
AssignmentAssignment30%
Examination ^Final Examination60%

^ Mandatory to Pass

Text References

  • ^ CCH. (2013/2014). Australian Master Superannuation Guide. (17th ed.). CCH Australia Ltd.
    Note: The material, particularly for weeks 3-5 and 9-11, is covered in the text.
  • Harmer, J. (2009). Pension Review Report Canberra: Australian Government Publishing Service.
  • World Bank. (1994). Averting the old age crisis. Oxford: Oxford University Press.
  • Dixon, J. (1977). Australia's policy towards the aged: 1890-1972/ Canberra series in administrative studies 3. Canberra: Canberra College of Advanced Education.
  • CCH. Current Australian master superannuation guide. Sydney: CCH Australia Ltd.
  • Australian Department of the Treasury (2010). Intergenerational Report 2010 - Australia to 2050: future challenges Canberra: Australian Government Publishing Service.
  • Australian Department of the Treasury. (2001). Towards higher retirement incomes for Australians: A history of the Australian retirement income system since Federation/Economic roundup/Centenary edition. Canberra: Australian Government Publishing Service, Canberra.
  • Australian Department of the Treasury. (2004). Australia's demographic challenges. Canberra: Australian Government Publishing Service, Canberra.
  • Australian Department of the Treasury. (2004). A more flexible and adaptable retirement income system. Canberra: Australian Government Publishing Service.
  • Banks, G. (2005). Policy implications of an ageing Australia. Canberra: Productivity Commission, Australian Government Publishing Service.
  • Henry. K and Review Panel (2009). Australia's future tax system - Final Report. Canberra: Australian Government Publishing Service.
  • Bateman, H., Kingston, G., & Piggott, J. (2001). Forced saving: Mandating private retirement incomes. Cambridge: Cambridge University Press.

Journal References

  • Journal of Superannuation Management
  • Super Review
  • Superfunds
  • Journal of Pension Economics and Finance

Website References

^ Mandatory reference

Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Access and Inclusion website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students' work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

ECF3211|2|1

Faculty of Regional Professional Studies (Bunbury)

School: Regional Professional Studies

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Superannuation and Retirement Planning

  • Unit Code

    ECF3211

  • Year

    2015

  • Enrolment Period

    2

  • Version

    2

  • Credit Points

    15

  • Full Year Unit

    N

  • Mode of Delivery

    Online

Description

This unit examines retirement income planning from the perspective of the individual and for its implications for the wider economy. The unit considers the approaches employed worldwide for retirement income provision with a particular focus on the Australian superannuation system and its sustainability. The history of age pension provision internationally is recounted, and the issues associated with changing demographic profiles are examined. The sections on the Australian superannuation industry are focused on industry structure, service providers, relevant legislation, retirement income products and taxation.

Prerequisite Rule

Students must pass 1 units from ECF1120

Learning Outcomes

On completion of this unit students should be able to:

  1. Assess recent evidence on individual investment and fund choice within superannuation in Australia and its implication for retirement benefits.
  2. Contrast the features of the range of retirement income streams including those offered by the social security system and assess eligibility for benefits offered and explain the rules relating to these benefits.
  3. Describe the role of the three pillars of the retirement income system.
  4. Identify alternative means of contributing to superannuation and rules governing these contributions and explain how superannuation contributions, income and benefits are taxed.
  5. Identify risks inherent in all aspects of retirement planning decisions and their implications for asset allocation in listed and sustainable assets.
  6. Identify the major regulators and legislation of consequence for the retirement income and superannuation system and examine and compare alternative superannuation fund types and structures.
  7. Identify the responsibilities of superannuation trustees.
  8. Outline alternative service providers in the delivery of superannuation products, principally fund administrators, insurers, investment managers, consultants, custodians, auditors, actuaries, solicitors, financial advisers and of course employers.
  9. Outline demographic trends in Australia and assess these impacts on the retirement income system and the wider economy and society.
  10. Propose ways you can apply principles of sustainability to superannuation.
  11. Understand the development of the Australia retirement income system in the 19th and 20th century.

Unit Content

  1. Asset allocation and retirement investment.
  2. Australian social security system.
  3. Australian superannuation industry and legislative framework.
  4. Australian superannuation trustee investment issues.
  5. Dealing with the "ageing crisis".
  6. Historical and current international approaches for retirement income provision.
  7. Investment, fund choice and individual decisions at retirement.
  8. Retirement income products in Australia.
  9. Superannuation fund structures in Australia.
  10. Superannuation product delivery by service providers.
  11. Taxation of superannuation.

Additional Learning Experience Information

This unit is delivered in the online mode. Learning materials are delivered via Blackboard. Students are guided through a series of learning activities designed to prepare them for the assessments.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

ON CAMPUS
TypeDescriptionValue
PresentationStudent presentation10%
AssignmentAssignment30%
Examination ^Final Examination60%
ONLINE
TypeDescriptionValue
PresentationStudent presentation10%
AssignmentAssignment30%
Examination ^Final Examination60%

^ Mandatory to Pass

Text References

  • ^
    Financial Planning (2014). (2nd ed.).  Warren McKeown, Mike Kerry, Marc Olynyk (John Wiley & Sons, Australia)
  • ^
    The Self Managed Super Handbook (2014). (4th ed.).  Monica Rule (available from www.monicarule.com.au).
    ">http://www.monicarule.com.au">www.monicarule.com.au).

  • Australian Master Superannuation Guide 2014/15. (18th ed.).  James Leow, Shirley Murphy - CCH Australia.

  • Australian Master Financial Planning Guide 2014/15.  (17th ed.).  CCH Australia.

^ Mandatory reference

Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Access and Inclusion website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students' work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

ECF3211|2|2