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.
This activity contributes to the following outcomes.
A student:
- applies consumer, financial, economic, business, legal, political and employment concepts and terminology in a variety of contexts COM5-1
- analyses key factors affecting decisions COM5-4
- explains information using a variety of forms COM5-8
- works independently and collaboratively to meet individual and collective goals within specified timeframes COM5-9
Related Stage 4 outcomes: COM4-1, COM4-5, COM4-6, COM4-8, COM4-9
Related Life Skills outcomes: COMLS-7, COMLS-12, COMLS-13
Content descriptions
Core 1: Consumer and Financial Decisions
Financial management
Students:
- discuss the role and importance of long-term financial strategies, including superannuation
- investigate tools and strategies for effective financial management, including:
- savings and superannuation plans.
Option 2: Investing
Investment planning
Students:
- consider factors influencing an investment portfolio for an individual or business, for example risk, diversification, short and long-term goals (ACHEK040).
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. The activity was written for students in Stage 5, however it can be modified to suit the needs of Stage 4 students and Life skills students. 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.