FPC003 Superannuation and Retirement Advice

The subject addresses the different aspects of superannuation, including contributions, benefits and income streams, as well as how superannuation is treated in death, divorce and bankruptcy. Retirement savings accounts, retail funds, industry funds, self-managed superannuation funds, aged care and equity release schemes are also covered.

The subject covers the formulation of a Statement of Advice (SOA), concentrating on how to structure the various required elements and providing recommendations.

Students will examine a fictitious client’s personal and financial details, so they can apply their understanding, when analysing and considering appropriate strategies to consider when preparing a statement of advice.

Financial advisers seeking accreditation in specific knowledge areas should confirm education and training requirements for authorisation with their licensee. From 1 January 2019, the Financial Adviser Standards and Ethics Authority (FASEA) has established education standards for financial advisers. This subject has been taught and assessed at Australian Qualification Framework Level 8 and is a core subject within a FASEA approved qualification.

Upon successful completion of this subject, existing advisers will meet the minimum education requirements of ASIC Regulatory Guide 146 (RG146) for providing personal advice in superannuation to retail clients. Existing advisers must also have completed Tier 1 Generic Knowledge.

Students are able to attend a one-hour online interactive workshop, where key topic concepts and examples are discussed with a facilitator. Additionally, students are able to attend weekly drop-in sessions, where students can ask questions to gain further clarification on key concepts and the assessments.

Students are encouraged to attend the interactive workshop and weekly drop-in session throughout the study period.

For more information, please refer to the subject outline.

  • Learning outcomes
    • On successful completion of this subject, students should be able to:

      1. Explain retirement planning in the Australian context.
      2. Critically analyse key elements of superannuation including the contribution, accumulation and payment of benefits.
      3. Identify and critique retirement planning strategies and formulate solutions for client situations.
      4. Construct and present a Statement of Advice (SoA) in an ethical and professional manner.
  • Subject content
    • Topic Title
      Topic 1 Retirement planning and superannuation in Australia
      Topic 2 Superannuation contributions
      Topic 3 Contribution strategies
      Topic 4 Accessing superannuation and benefit payments
      Topic 5 Superannuation income streams
      Topic 6 Death benefits, insurance and estate planning
      Topic 7 Superannuation strategies
      Topic 8 Social security and aged care
      Topic 9 Integrated retirement planning strategies
      Topic 10 Constructing and presenting a Statement of Advice (SoA)

  • CPD
    • Kaplan Professional has assessed this subject. Click here for the following CPD hours applicable from 1 January 2019 on successful completion of this course. For subjects or courses completed prior to this date, please contact Kaplan Professional’s CPD Support team on 1300 527 526 or pdmail@kaplan.edu.au.

  • Duration
    • The duration of this subject is one study period (12 weeks).

  • Assessment
  • Prerequisites
    • There are no prerequisites for this subject.

      However, individuals should review the ‘Assumed Knowledge’ tab to understand the prior knowledge Kaplan advises they should hold before enrolling in this subject.

  • Assumed knowledge
    • Whilst there are no prerequisites for this subject, Kaplan assumes that individuals have completed FPC001B Economic and Legal Context for Financial Planning and FPC002B Ethics and Professionalism in Financial Advice, or understand the content covered in those subjects, prior to undertaking FPC003 Superannuation and Retirement Advice.

  • Course transition subject equivalence
    • Individuals may not be required to complete this subject if they have transitioned from a SIA/Finsia/Kaplan course and have completed the following subjects:

        • there are no equivalences for this subject.
  • Reading list
    • There is no prescribed text for this subject.

      Individuals are provided with key readings and access to Kaplan’s online databases. Individuals are encouraged to research and read widely on the topic.