In First Half Year 2022, there will be three delivery modes for your subjects – Dual-Delivery, Online and On Campus.
Please refer to the return to campus page for more information.
August - Online
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Superannuation is the centrepiece of Australia’s retirement system and Australia’s superannuation regime is one of the largest in the world, with millions of member accounts in nearly 600,000 superannuation funds, and assets under management exceeding $3 trillion. This new subject, taught by an expert in superannuation policy and regulation, provides a detailed understanding of Australian law, policy and regulation of superannuation. It explains the current form and policy challenges of superannuation in its historical context.
Students will learn about the regulatory framework that governs superannuation, including licensing, prudential standards, conduct and disclosure, regulated by the two financial services regulators, the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority. The subject presents the legal that governs superannuation and its relationship with other legal regimes including taxation law settings for superannuation, employment law and social welfare. The subject will feature presentations by, and discussions with, senior experts from government, the funds industry and the legal profession.
Principal topics will include:
- History and development of Australia’s superannuation system and analysis in international context.
- Structure and design of superannuation including defined benefit and defined contribution; types of fund including industry, retail, government funds and self-managed superannuation funds
- The compulsory Superannuation Guarantee (coverage, exceptions and limits) and voluntary superannuation savings for individuals and businesses
- Regulatory obligations: Licensing, conduct, governance, fees, disclosure and prudential obligations for investment
- Role of the regulators, including the Australian Prudential Regulation Authority (APRA),Australian Securities and Investments Commission (ASIC) and the Australian Taxation Office (ATO)
- Introduction to tax policy and law for superannuation contributions, earnings and benefits
- Interactions of superannuation with the Age Pension and with employment (including employer obligations and prohibitions)
- Analysis of recent and upcoming superannuation reforms including account consolidation; optional insurance; early release of superannuation; home super saver; Your Future, Your Super; and the Retirement Income Covenant
- The future and key policy questions for superannuation including adequacy of retirement incomes; gender inequality; home ownership ; transparency and investment ‘activism’.
Intended learning outcomes
A student who has successfully completed this subject will:
- Understand the history, development and key policy issues of Australia's superannuation system
- Have an introductory understanding of the main tax policy and law for superannuation contributions, earnings and benefits
- Understand and be able to communicate critical analysis of the key policy issues for superannuation and its interactions with housing, Age Pension policy and employment and labour relations, including key policy questions for the future
- Be able to advise orally and in writing on types of superannuation saving, fund and consumer approaches with a focus on the regulation of large funds under APRA
- Be able to carry out research on policy, legislative, regulatory advice and case sources research, analysis and writing skills on superannuation
- Communication skills in writing about history, legal development and key policy issues
- Communication skills in advising on the law and regulation for superannuation in hypothetical case studies
- The ability to explain complex issues and to discuss and debate legal and policy questions orally in group contexts
Last updated: 12 November 2021