FPC001B Economic and Legal Context for Financial Planning

Question 4 Legislative issues in retirement planning (15 marks | Word limit: 800 words)

LO3: Analyse the impact of government and monetary policy on the Australian financial markets.
Given the potential for government policy changes to both the superannuation and social security systems, discuss the possible impacts of such changes on Jill and Marcus’s planning for retirement. Please provide discussion on the following points in your answer:
Superannuation system:
1. Discuss the impact of changes to the superannuation system that were made during 2020.
2. Discuss the potential range of future changes to superannuation.
3. Discuss how these potential future changes might affect Jill and Marcus’s retirement planning.
Social security system:
1. Discuss changes to the social security system that were made during 2020.
2. Discuss the potential range of future changes to social security.
3. Discuss how potential future changes might affect Jill and Marcus’s retirement planning.