Statistics issued August 2014
Download: Superannuation Statistics
Another good quarter, with positive investment earnings and contributions well up on the quarter a year earlier (and well up on the March quarter as June quarter end of financial year contributions are traditionally strong).
Benefit payments are up as well reflecting a maturing system.
Net rollovers from APRA funds (basically to SMSFs) continue at a level somewhat lower than in the past few years.
More details follow:
Superannuation assets totalled $1.85 trillion at the end of the June 2014 quarter.
Over the 12 months to June 2014 there was a 15.3 per cent increase in total superannuation assets.
Over the June 2014 quarter, total superannuation assets increased by 2.6 per cent.
Entities with at least $50 million in assets
The analysis and comments below are based on superannuation entities with more than four members and with at least $50 million in assets as at the end of their previous year of income.
Contributions, rollovers and benefit payments
There were $27.6 billion of contributions in the June 2014 quarter, up 5.9 per cent from the June 2013 quarter ($26.1 billion). Total contributions for the year ending June 2014 were $95.0 billion.
Outward rollovers exceeded inward rollovers by $531 million in the June quarter. Rollovers to SMSFs in 2013-14 were $2.3 billion, well down on the $7.4 billion the previous year.
There were $14.7 billion in total benefit payments in the June 2014 quarter, an increase of 8.3 per cent from the June 2013 quarter ($13.6 billion). Total benefit payments for the year ending June 2014 were $55.3 billion.
The annual industry-wide rate of return (ROR) derived by APRA for entities with over $50 million in assets for the year ending 30 June 2014 was 11.6 per cent. This derived figure is a shade lower than what rating agencies have indicated was the result for balanced funds in the financial year 2013-14.