Elements and Performance Criteria
- Explore the contemporary superannuation environment in Australia
- Identify and analyse purposes and benefits of superannuation as part of a long-term investment strategy to support people in retirement
- Investigate and assess characteristics of superannuation in Australia, following introduction of superannuation guarantee contributions by employers, for their impact on individual and community savings patterns
- Identify and explore role of regulators and trustees in regulation and management of superannuation funds in the Australian superannuation industry
- Explain and clarify key terminology used in the superannuation industry
- Identify sources for ongoing information about superannuation in Australia and explore their uses
- Analyse range of investment vehicles used in superannuation funds
- Identify nature and role of superannuation schemes and range and types of superannuation fund managers
- Explain and analyse a range of investment objectives and their related strategies
- Identify role of death benefits in superannuation schemes
- Explain and analyse costs of administering and managing superannuation funds
- Analyse and compare cross-section of superannuation funds’ performance over time and explain variables that contributed to performance
- Foster active management of superannuation funds
- Explain and demonstrate importance and means of checking superannuation statements for accuracy to customers
- Demonstrate and explain techniques for analysing performance, rate of return, government taxes and other costs
- Describe and analyse strategies for building superannuation savings, including personal contributions and salary sacrificing
- Explain importance of retaining superannuation statements for future analysis to customers
- Explain and explore mechanisms to gain information and clarification, or to lodge complaints if concerns or discrepancies arise about an individual’s superannuation fund
- Foster understanding of structures and strategies to deploy superannuation savings
- Explain and explore processes and requirements for management and deployment of funds when employment status or employer are changed
- Explain and explore role and nature of preserved and non-preserved components of superannuation funds
- Define and explain government regulated minimum age when superannuation benefits can be accessed, and the regulation’s impact, to customers
- Define and explain nature of accumulation or defined benefit funds to customers
- Explain and explore range of structures and techniques for use of superannuation funds on retirement