Unit of competency Outline
Date retreived
22/07/2026 11:39 PM AWST
22/07/2026 11:39 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Develop knowledge of superannuation
Develop knowledge of superannuation
Unit of competency
National Code
FNSFLT204
FNSFLT204
State Code
AUQ91
AUQ91
TGA Status
Replaced
Replaced
DTWD Status
Transition (Replaced)
Transition (Replaced)
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
080101 - Accounting
Original Release Date
16/09/2015
Nominal Hours
40
Description
This unit describes the skills and knowledge required to understand the role of superannuation and other longer-term investment devices, and to make effective and informed decisions about related products. It has wide application and may be used in workplaces, schools, adult and community learning organisations or registered training organisations to build the financial literacy of learners. The unit may also be used as part of pre-vocational or new apprenticeship programs, or as part of services provided by counselling or advisory organisations.It applies to individuals who explore new ideas and techniques to build personal financial literacy knowledge. No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify and discuss role of long-term versus short-term investments
- 1.1 Identify and explain role of savings and investments at different points of people’s life cycle
- 1.2 Identify and compare savings and investment patterns of Australia, population growth and ageing with other countries
- 1.3 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
- 2.1 Identify and explain purposes and benefits of superannuation as part of a long-term investment strategy to support people in retirement
- 2.2 Identify and discuss basic terminology used for customers of superannuation industry and characteristics of superannuation in Australia
- 2.3 Examine role of regulators and trustees in management of Australian superannuation industry
- 2.4 Identify and access sources for ongoing information about superannuation in Australia and discuss their uses
3. Explore characteristics and structures of superannuation funds
- 3.1 Identify and compare types of superannuation schemes and fund managers
- 3.2 Identify and describe common investment objectives and role of death benefits in superannuation schemes, and their related strategies
- 3.3 Describe role and nature of preserved and non-preserved components of superannuation funds
- 3.4 Identify common costs of administering and managing superannuation funds
- 3.5 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
- 4.1 Explain importance and means of checking superannuation statements for accuracy
- 4.2 Identify and apply techniques for analysing performance, rate of return, government taxes and other costs
- 4.3 Identify government regulated minimum age when superannuation benefits can be accessed and discuss regulation’s impact
- 4.4 Identify and discuss range of structures and techniques for use of superannuation funds on retirement
- 4.5 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
- 4.6 Develop questions on superannuation issues that may be put to employers and fund providers
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| D4112 | FNSFLT204A | Develop understanding of superannuation | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| OCZ77 | FNSFLT214 | Develop knowledge of superannuation | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| AWB1 | FNS10115 | Certificate I in Financial Services | Qualification |
| AVX4 | FNS20115 | Certificate II in Financial Services | Qualification |