Super Statistics

Total superannuation assets were $4.1 trillion at the end of the September 2024 quarter, increasing by 3.7 per cent over the quarter. MySuper products had an aggregate $1,075 billion in assets, spread across 57 MySuper products.

The commentary below relates to funds with more than six members.

Employer contributions totalled $34.5 billion for the quarter and $140.8 billion for the year ending in September 2024, which represented a 11.4 per cent increase compared to the year ending in September 2023. This is in part due to the Superannuation Guarantee (SG) rate increase to 11 per cent from 1 July 2023 and 11.5 per cent from 1 July 2024, employment growth over the year and higher wage inflation.

Member contributions were $14.9 billion for the quarter and $50.5 billion for the year ending September 2024, a decrease of 21.0 per cent compared to the June quarter. This decrease was expected given the high level of contributions in the June quarter, driven by members making additional contributions to maximise the use of annual contribution limits before the end of the financial year.

Benefit payments totalled $31.7 billion for the quarter and $119.9 billion for the year ending September 2024, a 11.4 per cent increase compared to the year to September 2023.

The rate of return (ROR) for entities with more than six members was a strong 13.4 per cent for the year to September 2024. The five-year average annualised ROR was 5.9 per cent.