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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Identify and discuss role of long-term versus short-term investments
   • Identify and explain role of savings and investments at different points of people’s life cycle
   • Identify and compare savings and investment patterns of Australia, population growth and ageing with other countries
   • Describe purpose and characteristics of a range of savings and investment vehicles used for short-term and long-term savings and investment
2. Describe the contemporary superannuation environment in Australia
   • Identify and explain purposes and benefits of superannuation as part of a long-term investment strategy to support people in retirement
   • Identify and discuss basic terminology used for customers of superannuation industry and characteristics of superannuation in Australia
   • Examine role of regulators and trustees in management of Australian superannuation industry
   • Identify and access sources for ongoing information about superannuation in Australia and discuss their uses
3. Explore characteristics and structures of superannuation funds
   • Identify and compare types of superannuation schemes and fund managers
   • Identify and describe common investment objectives and role of death benefits in superannuation schemes, and their related strategies
   • Describe role and nature of preserved and non-preserved components of superannuation funds
   • Identify common costs of administering and managing superannuation funds
   • Compare examples of cross-section of superannuation funds’ performance over time and discuss variables that contributed to performance
4. Foster active management of superannuation funds
   • Explain importance and means of checking superannuation statements for accuracy
   • Identify and apply techniques for analysing performance, rate of return, government taxes and other costs
   • Identify government regulated minimum age when superannuation benefits can be accessed and discuss regulation’s impact
   • Identify and discuss range of structures and techniques for use of superannuation funds on retirement
   • Identify and discuss mechanisms to gain information about a superannuation fund, track lost superannuation contributions or lodge complaints if concerns or discrepancies arise about individual’s superannuation fund
   • Develop questions on superannuation issues that may be put to employers and fund providers

Performance Evidence

Evidence of the ability to:

clearly explain the role of superannuation and other longer-term investment vehicles used in the community at different points of the life cycle

review and discuss varying types of investment vehicles

develop questions to put to fund managers that demonstrate knowledge necessary to actively manage a superannuation investment.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

identify and explain key consumer issues relating to superannuation information

identify savings and investment patterns at different life cycle stages

identify key characteristics of superannuation in Australia

describe different types of superannuation fund managers and types of investment strategies

list examples of short-term and long-term savings and investment vehicles

define common terms used in superannuation statements

list ways of using superannuation funds on retirement

list the key regulatory bodies and identify basic features of legislation relating to superannuation

briefly outline the roles and relationships between participants in the Australian financial services industry, including banks and other financial intermediaries.

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