25768 Aged Care and Advanced Retirement Planning
Warning: The information on this page is indicative. The subject outline for a
particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2025 is available in the Archives.
Credit points: 6 cp
Subject level:
Postgraduate
Result type: Grade and marksThere are course requisites for this subject. See access conditions.
Description
This subject provides students with the skills, knowledge and tools to deliver a quality holistic advice service to senior Australians and their families. After covering the various legislative frameworks, contracts and personal legal considerations, together with the financial arrangements most commonly used in the industry, the subject covers in detail the spectrum of accommodation and care options available to senior Australians. The subject also analyses financial planning models and tools necessary to develop and deliver advice with a clear understanding of the legal and financial considerations.
Subject learning objectives (SLOs)
| 1. | Understand the key drivers of the Aged Care industry from an individual, provider and government prospective |
|---|---|
| 2. | Evaluate the legal and financial implications of a variety of aged care options |
| 3. | Create an effective financial planning strategy to assist with funding of aged care needs |
| 4. | Deliver a comprehensive advice service to people considering aged care options |
Contribution to the development of graduate attributes
This subjects help students to develop a comprehensive and practical understanding of the aged care industry in Australia and to acquire the skills necessary to provide advice in an area where psychological, social, legal and financial aspects intersect As such this subject contributes particularly to the development of the following graduate attributes:
- Business knowledge and concepts
- Critical thinking, creativity and analytical skills
- Communication and interpersonal skills
- Business practice oriented skills
Teaching and learning strategies
In the on-line component, students will learn about the institutional aspects of the aged care industry: the main regulatory framework, the role of the government, the economics of the service providers, etc. A significant portion of the face-to-face class time will be devoted to analysing the pros and cons of the different aged care solutions via case study.
Content (topics)
- Overview of the Retirement living and Residential Aged Care Industry
- Discuss and analyse the retirement living market and spectrum of advice for consumers.
- Overview of government funding, pensions and costs associated with aged care.
- Financial planning strategies for keeping the home, asset reduction strategies, couples entering care and the financially disadvantaged.
- Retirement Communities: Regulations, ownership, and rights and responsibilities for the consumer and operator.
- Retirement Communities: The costs associated with moving into, living in and leaving a community.
- Financial planning benefits and risks of granny flats and life interests.
- Elder law and financial planning risk.
Assessment
Assessment task 1: Quiz on the content of the online learning component*
| Objective(s): | This addresses subject learning objective(s): 1, 3 and 4 |
|---|---|
| Type: | Quiz/test |
| Groupwork: | Individual |
| Weight: | 20% |
| Criteria: | *Note: Late submission of the assessment task will not be marked and awarded a mark of zero. |
Assessment task 2: Individual assignment
| Objective(s): | This addresses subject learning objective(s): 2 and 3 |
|---|---|
| Type: | Report |
| Groupwork: | Individual |
| Weight: | 40% |
Assessment task 3: Written final exam (open book)
| Objective(s): | This addresses subject learning objective(s): 1, 3 and 4 |
|---|---|
| Type: | Examination |
| Groupwork: | Individual |
| Weight: | 40% |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
Mandatory reading and other learning material will be placed on Canvas.