Superannuation assets totalled $3.0 trillion at the end of the December 2019 quarter. Over the 12 months from December 2018 there was a 13.0 per cent increase in total superannuation assets.
Total assets in MySuper products totalled $802 billion at the end of the December 2019 quarter. Over the 12 months from December 2018 there was a 19.6 per cent increase in total assets in MySuper products.
For APRA regulated funds:
There were $29.3 billion of contributions in the December 2019 quarter, up 7.0 per cent from the December 2018 quarter ($27.4 billion). Total contributions for the year ending December 2019 were $119.1 billion. Inward benefit transfers exceeded outward benefit transfers by $2.9 billion in the December 2018 quarter. Inward benefit transfers include transfers from the ATO to superannuation funds where a match had been found with unclaimed super, particularly as part of the Protecting Your Super Package (PYSP) reform.
There were $21.2 billion in total benefit payments in the December 2019 quarter, an increase of 16.4 per cent from the December 2018 quarter ($18.2 billion). Total benefit payments for the year ending December 2019 were $83.0 billion. Lump sum benefit payments ($11.4 billion) were 53.9 per cent and pension benefit payments ($9.8 billion) were 46.1 per cent of total benefit payments in the December 2019 quarter. For the year ending December 2019, lump sum benefit payments ($42.3 billion) were 50.9 per cent and pension payments ($40.8 billion) were 49.1 per cent of total benefit payments. Benefit payments include amount transferred to the ATO under PYSP as inactive low balance accounts.
Net contribution flows (contributions plus net benefit transfers less benefit payments) totalled $10.8 billion in the December 2019 quarter, an increase of 16.2 per cent from the December 2018 quarter ($9.3 billion). Net contribution flows for the year ending December 2019 were $40.0 billion.
The annual industry-wide rate of return (ROR) for entities with more than four members for the year ending December 2019 was 13.8 per cent. The five year average annualised ROR to December 2019 was 7.1 per cent.
Over the December 2019 quarter, total assets increased by 1.7 per cent (or $36.2 billion) to $2.2 trillion.
As at the end of the December 2019 quarter, 51.4 per cent of the $1.9 trillion investments were invested in equities; with 22.0 per cent in Australian listed equities, 25.3 per cent in international listed equities and 4.1 per cent in unlisted equities. Fixed income and cash investments accounted for 30.9 per cent of investments; 21.3 per cent in fixed income and 9.5 per cent in cash. Property and infrastructure accounted for 14.3 per cent of investments and 3.4 per cent was invested in other assets, including hedge funds and commodities.