Media Release

Double-digit superannuation returns deliver for Australians again

**ASFA CEO MARY DELAHUNTY AVAILABLE FOR INTERVIEW** 

ASFA, the voice of super, welcomes Australia’s superannuation funds finishing 2024 on a high, with double digit investment returns across much of the sector for the 12 months to December for both balanced and growth superannuation investment options. 

Analysis undertaken by ASFA of daily unit prices of major super funds for balanced superannuation fund options shows a typical return of at least 10.5 per cent for 2024, with some funds recording nearly 12 per cent returns.  

Some high-growth investment options, which use higher-risk strategies, are reporting annual returns as high as 15 per cent – an exceptional result. 

“These returns for 2024 are a great result for working Australians who stand to enjoy a higher standard of retirement living thanks to our world-class superannuation system,” said ASFA CEO Mary Delahunty. 

“While strong international share markets have helped propel returns over the last 12 months, it’s the consistent, sophisticated portfolio construction from superannuation funds’ expert investment teams that deliver terrific long-term results regardless of what is happening on the markets.”  

The typical annual return over ten years for balanced options is over 7 per cent, an investment result far in excess of returns after tax from term deposits, and well ahead of inflation.   

“This is what our superannuation system is all about – delivering great results, year after year, to help Australians have the retirement they deserve,” said Ms Delahunty. 

“There can be a lot of noise around super, but this – the consistent delivery of strong, long-term returns, is what matters to Australians.” 

Start the year with a super ‘check-up’ 

In light of 2024’s bumper year, ASFA is encouraging superannuation account holders to take a moment to do a quick ‘check-up’ on their retirement savings. 

“Investing as little as one hour to make sure you’re on track to achieve your desired standard of living in retirement will reap dividends in the years ahead,” said Ms Delahunty.  

“This can be as simple as going over your latest statement, thinking about your risk appetite and whether it aligns with your current investment option(s), and considering seeking financial advice from an expert.”  

Here are a few simple steps to make a big difference:     

• Check your super online: Take note of what you currently have and understand what you might need as a balance to retire.   

“The ASFA Retirement Standard is a great tool for this and has just notched up 20 years of capturing the costs of essentials like health, communications, clothing and household goods,” Ms Delahunty said.    

• Keep your details up to date: Make sure your contact details are up to date and that you’ve nominated a beneficiary. Don’t forget to check you’re in the right investment option(s) for you and that your insurance cover reflects your needs.    

• Check your account regularly: Monitor your account regularly to make sure you’re not missing any super contributions you’re entitled to.     

You can also log into your MyGov account to check whether you have accumulated any unwanted multiple superannuation accounts. With a few clicks you can consolidate any unwanted super account into the account you use and want.   

• Consider maximising your super contributions: You can have a total of $30,000 in tax-deductible contributions (including any employer contributions) to your super fund this financial year, so if you’re not going to hit that ceiling through your employer’s contributions, consider topping it up yourself and then claiming a tax deduction in your next tax return.   

• Seek advice: Accessing quality, affordable advice through your super fund can make a huge difference. Most super funds provide general advice or limited financial advice at no, or only a small cost on topics such as insurance cover, investment options or whether to make additional contributions. Funds also generally have calculators that can assist members with planning for retirement.   

Most funds also make available full personal financial advice to members, but this comes at an additional charge.  

* This information is general in nature and should not be relied upon as advice. This information does not consider personal circumstances. Investments can fluctuate and past performance is not a reliable indicator of future performance. The Product Disclosure Statement and Target Market Determination of any financial product should be reviewed before any investment decision is made. 

 


For further information or to arrange interviews with Mary Delahunty, please contact:

ASFA Media Manager Richard Garfield, 0451 949 300.

About the Association of Superannuation Funds of Australia (ASFA)

ASFA, the voice of super, has been operating since 1962 and is the peak policy, research and advocacy body for Australia’s superannuation industry. ASFA represents the APRA regulated superannuation industry with over 100 organisations as members from corporate, industry, retail and public sector funds, and service providers. We develop policy positions through collaboration with our diverse membership base and use our deep technical expertise and research capabilities to assist in advancing outcomes for Australians.  

We unite the superannuation community, supporting our members with research, advocacy, education and collaboration to help Australians enjoy a dignified retirement. We promote effective practice and advocate for efficiency, sustainability and trust in our world-class retirement income system. 

Derek Thompson

Best Selling Author, Podcast Host of 'Plain English'

Sessions

Keynote 8 – Navigating the energy transition: opportunities, investor strategies and policy needs

Few speakers can match Derek Thompson‘s ability to synthesize mega-trends in society, labor, economics, technology, and politics. Put another way: Derek trawls the data sets and does the forecasting and deep reporting necessary to help us better understand how we live, how we vote, how we spend, and how we work.

In his paradigm-shifting #1 New York Times bestseller, Abundance (co-written with Ezra Klein), this award-winning journalist reveals how our policies and culture have pushed us into a world of scarcity (not enough housing, workers, or progress)—and offers a radical new path towards a world where housing is affordable, energy is plentiful, and innovation flourishes across industries.

He shares a compelling vision of a future where we have more than enough for everybody, and a practical, actionable roadmap for how to get there. It starts with taking more risks, building more expansively, and recognizing that we all have the power to create a world of abundance. “Everything’s utopian until it’s reality,” he says.

Carmen Beverley-Smith

Executive Director - Superannuation, Life & Private Health Insurance, APRA

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Keynote 8 – Navigating the energy transition: opportunities, investor strategies and policy needs

Carmen joined APRA in March 2023 and holds the role of Executive Director, Life and Private Health Insurance and Superannuation.  

She has had an esteemed career in financial services, spanning over 25 years. She has held diverse leadership roles at Westpac and Commonwealth Bank of Australia, including across risk, transformation and change, product and portfolio development, and sales and service. 

Prior to joining APRA, she held the role of General Manager, Risk Transformation Delivery Integration at Westpac. This involved leading the group-wide implementation of a suite of solutions to uplift risk management capability and develop data, analytics and reporting. 

Carmen leads with a values-driven approach and a particular interest in developing and mentoring talent. 

She holds a Bachelor of Commerce and Accounting, is a certified Chartered Accountant and a Graduate of the Australian Institute of Company Directors. 

Amy C. Edmondson

Novartis Professor of Leadership and Management, Harvard Business School

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Amy C. Edmondson is the Novartis Professor of Leadership and Management at the Harvard Business School, a chair established to support the study of human interactions that lead to the creation of successful enterprises that contribute to the betterment of society.

Edmondson has been recognized by the biannual Thinkers50 global ranking of management thinkers since 2011, and most recently was ranked #1 in 2021 and 2023; she also received that organization’s Breakthrough Idea Award in 2019, and Talent Award in 2017.  She studies teaming, psychological safety, and organisational learning, and her articles have been published in numerous academic and management outlets, including Administrative Science Quarterly, Academy of Management Journal, Harvard Business Review and California Management Review. Her 2019 book, The Fearless Organization: Creating Psychological Safety in the Workplace for Learning, Innovation and Growth (Wiley), has been translated into 15 languages. Her prior books – Teaming: How organizations learn, innovate and compete in the knowledge economy (Jossey-Bass, 2012), Teaming to Innovate (Jossey-Bass, 2013) and Extreme Teaming (Emerald, 2017) – explore teamwork in dynamic organisational environments. In Building the future: Big teaming for audacious innovation (Berrett-Koehler, 2016), she examines the challenges and opportunities of teaming across industries to build smart cities. 

Edmondson’s latest book, Right Kind of Wrong (Atria), builds on her prior work on psychological safety and teaming to provide a framework for thinking about, discussing, and practicing the science of failing well. First published in the US and the UK in September, 2023, the book is due to be translated into 24 additional languages, and was selected for the Financial Times and Schroders Best Business Book of the Year award.

Before her academic career, she was Director of Research at Pecos River Learning Centers, where she worked on transformational change in large companies. In the early 1980s, she worked as Chief Engineer for architect/inventor Buckminster Fuller, and her book A Fuller Explanation: The Synergetic Geometry of R. Buckminster Fuller (Birkauser Boston, 1987) clarifies Fuller’s mathematical contributions for a non-technical audience. Edmondson received her PhD in organisational behavior, AM in psychology, and AB in engineering and design from Harvard University.

 

Daniel Mulino MP

Assistant Treasurer and Minister for Financial Services

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Born in Brindisi, Italy, Daniel was a young child when he moved with his family to Australia. He grew up in Canberra and completed his first degrees – arts and law – at the ANU. He then completed a Master of Economics (University of Sydney) and a PhD in economics from Yale.

He lectured at Monash University, was an economic adviser in the Gillard government and was a Victorian MP from 2014 to 2018. As Parliamentary Secretary to the Treasurer of Victoria, Daniel helped deliver major infrastructure projects and developed innovative financing structures for community projects.

In 2018 he was preselected for the new federal seat of Fraser and became its first MP at the 2019 election, re-elected in 2022 and 2025. From 2022 to 2025, Daniel was chair of the House of Representatives’ Standing Economics Committee in which he chaired inquiries; economic dynamism, competition and business formation and insurers’ responses to 2022 major floods claims.

In 2025, he became the Assistant Treasurer and Minister for Financial Services.

In August 2022, Daniel published ‘Safety Net: The Future of Welfare in Australia’, which aims to explore the ways in which an insurance approach can improve the effectiveness of government service delivery.