PURPOSE
The overall module objective is to equip students with the fundamental knowledge pertaining to the theoretical and practical aspects of the retirement planning process for individuals within the broader framework of financial planning.
LEARNING OUTCOMES
• Understand and explain the applicable legislation pertaining to the retirement planning process.
• Understand and explain the retirement planning process before, during and after retirement.
• Perform a needs analysis for a client to determine the client’s needs and possible capital shortfalls as part of the pre-retirement planning process.
• Demonstrate an understanding of the retirement savings vehicles such as pension and provident funds, retirement annuities and preservation funds.
• Determine the basic rules pertaining to taxation on retirement and withdrawal.
• Calculate the taxable and tax free portions of lumps sums due on retirement and withdrawal.
• Calculate the maximum tax deductible contribution to a retirement annuity and pension funds.
• Demonstrate an understanding of living annuities.
• Understand and explain the different types of annuities available on retirement.
CORE CONTENT
• Introducing the principles of retirement planning.
• A focus on legal issues relating to retirement planning.
• The types of retirement funds, preservation and retirement annuity funds.
• Determination of the Retirement Planning Needs Analysis.
• Taxation of retirement fund contributions and lumps sum benefits.
• Types of annuities including Living Annuities.
• Retirement Planning process as part of the six step financial planning process.
Evaluation criteria
100% Continuous assessment:
The type of assessments and weightings will be provided in the study guide of the module.
MODERATION
Internal and external.
Prerequisites
• Personal Financial Planning (EBFV201)
• Corporate Financial Planning (EBFV222)