ACCT 2262 Superannuation & Retirement

ACCT 2262 Superannuation & Retirement.

Your task is to take the role of an adviser and provide Thomas and Jessica with a report that addresses the following. See the Client data Form in the Assessment folder.

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Whether they can meet their retirement goals and objectives.

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What strategy you would recommend to them to prepare for their retirement in 5 years’ time. When providing strategy, please also address Transition to Retirement option (If applicable) for them.

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You are to undertake modelling using the MoneySmart calculator to illustrate/model the outcome of your recommendations (http://www.moneysmart.gov.au).

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Discuss how much they should contribute to superannuation (develop a contribution schedule), providing information about the contribution rules, including contribution caps and eligibility to make concessional and non-concessional contributions, where appropriate.

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Highlight the recent legislative changes to contribution cap and how Thomas & Jessica can benefit from the recent changes.

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Discuss the availability of other contribution avenues such as Co Contribution and Spouse Contribution to maximise the retirement benefits.

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Your advice should address the issues of capital gains tax and how Thomas and Jessica could manage their capital gain tax liability if they sell their capital assets at some time in the future.

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You are to advise Thomas and Jessica of the investment asset allocation (but not investment products) that would best meet their needs.

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Explain the difference between the assets that generate income and the assets that generate growth and which one is more suitable for them.

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You are required to complete application forms for the MLC Navigator Retirement Plan Series 2 Product Disclosure Statement to rollover their superannuation to MLC Navigator. You are to complete the non-binding death benefit nomination form in favour of each other.  

You are not required to prepare a Statement of Advice or any other compliance requirements, e.g. relating to Superannuation switching. This exercise is about developing a superannuation and retirement planning strategy that meets the needs of the client. You may ignore Centrelink entitlement for this exercise. When using the MoneySmart calculators use the ‘Advanced option to deselect Age Pension calculations (If you elect to include the Age Pension you will need to include the value of assets other than the family home & superannuation).  

ACCT 2262 Superannuation & Retirement

 

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