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APRA releases Quarterly Superannuation Performance and MySuper Statistics for December 2014

19 Feb 2015
15.03

The Australian Prudential Regulation Authority (APRA) today released its December 2014 Quarterly Superannuation Performance publication and December 2014 Quarterly MySuper Statistics report.

As part of fulfilling its obligations to publish quarterly information in relation to MySuper products under section 348A of the Superannuation Industry (Supervision) Act 1993, APRA has expanded its December 2014 Quarterly MySuper Statistics report to include an additional 55 new items on fees disclosed, which represent the fees required to be disclosed in Product Disclosure Statements (PDS).    

The new items on fees and costs disclosed include data on: indirect cost ratio, administration fees, advice fees, insurance fees, exit fees, buy and sell spread, switching fees, administration fee levels, lifecycle investment fee levels, activity fees and insurance premiums. 

At 31 December 2014, total assets, which include the assets of self-managed superannuation funds and the balance of life office statutory funds, rose to $1.93 trillion, an increase of 9.3 per cent from the December 2013 quarter.

Contributions to funds with more than four members over the December 2014 quarter were $26.1 billion, up 15.3 per cent from the December 2013 quarter ($22.7 billion).  Total contributions for the year ending December 2014 were $100.6 billion.

There were $15.2 billion in total benefit payments in the December 2014 quarter, an increase of 9.4 per cent from the December 2013 quarter ($13.9 billion).  Total benefit payments for the year ending December 2014 were $56.4 billion.

Net contribution flows (contributions plus net rollovers less benefit payments) totalled $10 billion in the December 2014 quarter, an increase of 14.9 per cent from the December 2013 quarter ($8.7 billion).  Net contribution flows for the year ending December 2014 were $39.4 billion.

Copies of the publications are available on APRA’s website at:

Quarterly Superannuation Performance: 
www.apra.gov.au/Super/Publications/Pages/quarterly-superannuation-performance.aspx

Quarterly MySuper Statistics:
www.apra.gov.au/Super/Publications/Pages/Quarterly-MySuper-statistics.aspx

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the Australian financial services industry. It oversees Australia’s banks, credit unions, building societies, life and general insurance companies and reinsurance companies, friendly societies and most of the superannuation industry. APRA is funded largely by the industries that it supervises. It was established on 1 July 1998. APRA currently supervises institutions holding $4.9 trillion in assets for Australian depositors, policyholders and superannuation fund members.

Media and industry enquiries only:

Andrew McCutcheon
APRA Media Unit
Telephone: 02 9210 3636

All other inquiries:

APRAinfo: 1300 55 88 49