PRINCIPLES OF RETIREMENT AND ESTATE PLANNING

FIN3PRE

2015

Credit points: 15

Subject outline

This subject is an introduction to superannuation and retirement planning with a focus on major trends and features of the industry, the framework in which the industry operates and an examination of the role of superannuation and retirement planning within the financial planning process. The role of estate planning will also be considered in greater depth. The subject will also examine the estate planning discipline and the important role i plays in the financial planning process. Superannuation planning is an important issue for most adult Australians, regardless of their age. Two of the major factors contributing to an increased interest in superannuation are: (i) changes in the demographic profile and (ii) the way retirement funding potentially impacts on the future economy and government policy on welfare and health care study the Australian superannuation and social security industry with the aim of developing appropriate knowledge and skills required to devise optimal strategies for clients in both the accumulation phase and the retirement phase of life. Students will learn to estimate the future financial needs of individuals in retirement, based on their stated goals. Various types of retirement plans will be evaluated, including superannuation funds, pensions, annuities and other insurance based products. Consideration will be given to the suitability of these products for clients with different needs. In the area of estate planning, students will study the fundamental principles of estate planning, the interaction between estate and retirement planning and the application of estate planning to solve the needs of clients.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorMarc Olynyk

Available to Study Abroad StudentsYes

Subject year levelYear Level 3 - UG

Exchange StudentsYes

Subject particulars

Subject rules

Prerequisites FIN2IFP OR FIN2FPL

Co-requisitesN/A

Incompatible subjects FIN3REP

Equivalent subjects FIN3REP

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsAustralian Superannuation Handbook - latest editionPrescribedJones, S.THOMSON REUTERS

Graduate capabilities & intended learning outcomes

01. Develop an understanding of the basic features of Australia's superannuation and retirement incomes policy;

Activities:
Assignment (case study) that develops student's skills, knowledge and understanding
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)

02. Develop an understanding of the importance of the regulatory framework that superannuation operates under and the roles of the major regulators

Activities:
Lectures and tutorial discussions. Mid-semester test
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)

03. Understand the key features of the estate planning area and the important role that estate planning plays in the financial planning process

Activities:
Lectures and classroom teaching and discussion.
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)

04. Analyse and critically evaluate a comprehensive set of client circumstances in order to identify the needs and goals of a client;

Activities:
Classroom activities and discussion. Analytical case study
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)

05. Examine and apply a range of superannuation, retirement and estate planning strategies appropriate to the needs and objectives of a client

Activities:
Classroom activities and discussion. Analytical case study
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)

06. Develop more advanced skills in report writing, financial modelling and the presentation of information to clients.

Activities:
Analytical case study. Tutorial problems.

Subject options

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Start date between: and    Key dates

Melbourne, 2015, Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMarc Olynyk

Class requirements

Lecture Week: 31 - 43
One 2.0 hours lecture other recurrence on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Tutorial Week: 31 - 43
One 1.0 hours tutorial other recurrence on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
one 1,500-word analytical case study20 01, 04, 05, 06
one 1-hour mid-semester test10 01, 02, 04
one 2-hour final examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject70 02, 03, 04, 05