The costs and benefits of contributing to super
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Introduction
In this activity, students consider a number of scenarios to weigh up the costs and benefits of making pre-tax contributions to superannuation. They decide whether the difference that these contributions make to their disposable income is outweighed by the long-term gains to their superannuation outcomes.
Achievement standard
By the end of Year 10, students explain why and how governments manage economic performance to improve living standards. They give explanations for variations in economic performance and standards of living within and between economies. They analyse factors that influence major consumer and financial decisions and explain the short- and long-term effects of these decisions. They explain how businesses respond to changing economic conditions and improve productivity. Students evaluate the effect of organisational and workforce management on business performance.
When researching, students develop questions and formulate hypotheses to frame an investigation of an economic or business issue or event. They gather and analyse reliable data and information from different sources to identify trends, explain relationships and make predictions. Students generate alternative responses to an issue, taking into account multiple perspectives. They use cost-benefit analysis and appropriate criteria to propose and justify a course of action. They apply economics and business knowledge, skills and concepts to familiar, unfamiliar and complex hypothetical problems. Students develop and present evidence-based conclusions and reasoned arguments incorporating different points of view. They use appropriate texts, subject-specific language, conventions and concepts. They analyse the intended and unintended effects of economic and business decisions and the potential consequences of alternative actions.
Content descriptions
Economics and Business Knowledge and Understanding
Factors that influence major consumer and financial decisions and the short- and long-term consequences of these decisions (ACHEK053).
Economics and Business Skills
Gather relevant and reliable data and information from a range of digital, online and print sources (ACHES056).
Analyse data and information in different formats to explain cause-and-effect relationships, make predictions and illustrate alternative perspectives (ACHES057).
Generate a range of viable options in response to an economic or business issue or event, use cost-benefit analysis and appropriate criteria to recommend and justify a course of action and predict the potential consequences of the proposed action (ACHES058).
Present reasoned arguments and evidence-based conclusions in a range of appropriate formats using economics and business conventions, language and concepts (ACHES060).
Teacher resources
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Why is super important?
Student learning resources
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Contributing to super
The costs and benefits of contributing to super
Moneysmart superannuation calculator
Suggested activity sequence
This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group. If you assign this activity to a class, your students will be assigned all student resources on their 'My learning' page. You can also hand-pick the resources students are assigned by selecting individual resources when you add a work item to a class in 'My classes'.
- As a class, read the explainer.
- Play: Why is super important? This video is about why it’s important to know what you want and how you want to live when you’re older and how super can help.
- Discuss what students learned and found interesting from watching the video. What could they do to realise their retirement dreams?
- Students complete the worksheet. They will need to access the moneysmart superannuation calculator.
- Invite students to share their decisions on if and when they will salary sacrifice to their super and why.