Superannuation and Retirement Applications (SRA) study guide
Superannuation and Retirement Applications (SRA) · Work through your exam, one topic at a time.
The Superannuation and Retirement Applications (SRA) exam is a professional assessment for people who work with Australian superannuation and retirement outcomes - paraplanners, adviser support staff, fund administrators, and compliance officers moving into advice-facing roles. It tests whether you can apply the rules rather than merely recite them: how the regulatory architecture constrains a recommendation, how contributions and caps interact with a client's circumstances, how retirement income streams are structured and taxed, and how age pension entitlements respond to a given strategy. The Superannuation and Retirement Applications (SRA) study guide has 7 sections and about 1,748 words.
01The Superannuation System and Its Regulatory Framework
Australian superannuation is a defined contribution system built on the three pillars: the age pension (safety net), compulsory employer contributions (Superannuation Guarantee), and voluntary savings. Candidates must know the key statutes and regulators: the Superannuation Industry (Supervision) Act 1993 (SIS Act) and SIS Regulations govern trustee conduct; APRA prudentially supervises funds; ASIC regulates conduct and disclosure; the ATO administers the Superannuation Guarantee, contribution caps, and self-managed funds.
288 words, about 1 min02Accumulation Phase and Contributions
Contributions are concessional (pre-tax: employer SG, salary sacrifice, personal deductible) or non-concessional (after-tax). Candidates must know the annual concessional cap (indexed; commonly 30,000, with an unused-cap carry-forward for balances under 500,000) and the non-concessional cap (four times the concessional cap, subject to the total super balance threshold).
263 words, about 1 min03Retirement Income Streams and Pensions
An account-based pension (ABP) is the most common retirement income stream. It must satisfy the retirement phase rules: minimum annual payments (based on age and account balance), no maximum, and commutation at any time.
236 words, about 1 min04Taxation of Superannuation Benefits
Superannuation is taxed at three points: contributions (15% concessional, 30% under Div 293), fund earnings (15% in accumulation, exempt in retirement phase), and benefits . Benefit taxation depends on the taxable vs tax-free component and the member's age and preservation status.
254 words, about 1 min05Social Security and Age Pension Interaction
The Age Pension is means-tested by both an income test and an assets test ; the lower result determines the payment. Candidates must know the deeming rules (financial assets deemed to earn a set rate), the free area thresholds, and the taper rates (income test reduces payment by 50 cents per dollar above the threshold; assets test by 3 per 1,000 above the threshold).
249 words, about 1 min06Retirement Planning and Advice Application
Retirement planning follows a structured process: establish the client's objectives, gather financial and personal data, identify issues, develop and present a Statement of Advice (SoA) , implement, and review. Candidates must apply the best interests duty (s 961B) and the safe harbour steps, and ensure advice is appropriate to the client's circumstances.
242 words, about 1 min07Compliance, Disclosure and Ethics
Candidates must understand disclosure requirements: Product Disclosure Statements (PDS), Financial Services Guides (FSG), and SoAs. The Corporations Act and ASIC Act impose conduct obligations, including the design and distribution obligations (DDO) and the hawking prohibition .
216 words, about 1 min