Statistics issued November 2013
Download: Superannuation Statistics
The main results from APRA's latest quarterly data, for the September quarter 2013:
- Total estimated assets, which include the assets of self-managed superannuation funds (SMSFs) and the balance of life office statutory funds, rose to $1.75 trillion at 30 September 2013. Superannuation assets have reached a record level, exceeding $1.7 trillion for the first time.
- Outward rollovers exceeded inward rollovers by $719 million in the September quarter, that is that amount flowed to SMSFs. This amount is well down on the net outflow of $2.1 billion in the same quarter a year earlier.
- Total benefit payments for the year ending September 2013 were $51.7 billion, an increase of 6.4 per cent from the previous year ($48.6 billion). Benefit payments are starting to build with an aging population.
- Contributions to funds with at least $50 million in assets over the September 2013 quarter were $21.5 billion. Total contributions for the year ending September 2013 were $90.3 billion, down 0.8 per cent from the previous year ($91.0 billion). Contributions appear to be fairly flat, particularly voluntary contributions. As well improved investment returns mean that there has been less need for employers to top up DB funds.
- The annual industry-wide rate of return (ROR) derived by APRA for entities with over $50 million in assets for the year ending 30 September 2013 was 14.6 per cent. The industry-wide ROR for entities with over $50 million in assets for the September 2013 quarter was 4.7 per cent. The APRA figures show a similar pattern to surveys which cover the investment return experience for the typical fund member but due to the APRA methodology show slightly different results in absolute terms.
- The number of APRA-regulated funds with more than 5 members fell from 347 in September 2012 to 317 in September 2013. The number of funds with more than $50 million in assets fell from 222 to 215 over the same period indicating that most of the fund closures were of relatively small funds.
- The cost of death and disability insurance rose from $1,270 million in the September quarter 2012 to $1,523 million (up around 20%) in the September quarter 2013, reflecting the increase in premiums over the period.
- The usual APRA splits between the various sectors are not available for this quarter as APRA is transitioning to a new publication based on the new statistical returns that funds are submitting. A number of other data items also are not available. As a result some of the sections and numbers in the one pager have not been able to be updated.