Super scams
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Introduction
Being uninformed about your financial rights and responsibilities can be costly. In this activity students learn about the risks that scammers pose to their potential retirement income. They consider what factors influence financial decisions such as accessing their super early and the consequences of these decisions.
This activity contributes to the following outcomes.
- applies consumer, financial, economic, business, legal, political and employment concepts and terminology in a variety of contexts COM5-1
- analyses the rights and responsibilities of individuals in a range of consumer, financial, economic, business, legal, political and employment contexts COM5-2
- 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, COM4-2, 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:
- investigate the consequences of poor financial management, including:
- impact on wellbeing of the individual and families
- discuss the role and importance of long-term financial strategies, including superannuation
Current issues
Students:
- investigate a current issue that influences the decisions consumers make, for example:
- various types of scams, e.g. relating to online shopping, banking and identity theft
Teacher resources
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Planning for retirement – be Super Scheme Smart
Student learning resources
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Super scams
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'.
- Play: Planning for retirement–be Super Scheme Smart. This video is about aggressive tax planning retirement planning schemes–what to look for, and where to go for help.
- As a class, discuss what the possible consequences for people who fall victim to a‘super scheme’.
- 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 allow them time to explore answers.