Superannuation and your rights
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Introduction
In this activity, students are introduced to the concept of superannuation and their rights in relation to super. They learn that if they are eligible for the superannuation guarantee, their boss must pay the right amount into the right account. They also learn what to do if their boss isn’t paying super on their behalf.
Achievement standard
By the end of Year 10, students analyse how economic indicators influence Australian Government decision-making. They explain ways that government intervenes to improve economic performance and living standards. They explain processes that businesses use to manage the workforce and improve productivity. They explain the importance of Australia’s superannuation system and its effect on consumer and financial decision-making. Students analyse factors that influence major consumer and financial decisions, and explain the short- and long-term effects of these decisions.
Students develop and modify a range of questions to investigate an economic and business issue. They locate, select and analyse relevant and reliable information and data from a range of sources. They interpret and analyse information and data to evaluate trends and economic cause-and-effect relationships, and make predictions about consumer and financial impacts. They develop an evidence-based response to an economic and business issue. They evaluate a response, using appropriate criteria to decide on a course of action. Students use economic and business knowledge, concepts, and terms to develop descriptions, explanations and reasoned arguments that synthesise research findings.
Content descriptions
Economics and Business Knowledge and Understanding
The importance of Australia’s superannuation system and how this system affects consumer and financial decision-making. (AC9HE10K04)
Economics and Business Skills
Interpret information and data, explaining economic and business issues, trends and economic cause-and-effect relationships, and make predictions about consumer and financial impacts. (AC9HE10S03)
Develop and evaluate a response to an economic and business issue, using cost-benefit analysis or criteria to decide on a course of action. (AC9HE10S04)
Teacher resources
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What is super?
Student learning resources
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Your rights in relation to super
Checking the right amount of super was paid
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.
- Introduce the topic by playing the first 1.14 minutes of What is superannuation? Ask students questions to check their understanding.
Examples (with answers in brackets)
- What is superannuation? (money put aside for your retirement)
- What is the superannuation guarantee? (money employers are required to pay into their employees’ super funds)
- Who is eligible for super? (anyone over 18 who earns more than $450 a month and people under 18 who work more than 30 hours a week)
- Play the rest of the video: What is superannuation?
- As a class, read Your rights in relation to super. As you read, link the learning to students’ lived experiences, such by asking questions:
- Do you have a job?
- Do you ever work more than 30 hours a week?
- Do you check your payslips to make sure the right amount of tax has been deducted and the right amount of super is paid into the right super account?
- Do you have a super fund?
- Students complete the worksheet.
- Students complete a 3-2-1:
- 3 things the student learned from the activity
- 2 things the student found interesting and what they’d like to learn more about.
- 1 question they still have.
- Discuss the questions students still have and give them time to explore answers.