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APRA releases quarterly superannuation statistics for December 2013

Thursday 20 February 2014

 

14.05

The Australian Prudential Regulation Authority (APRA) today released its December 2013 Quarterly Superannuation Performance publication. Total estimated assets, which include the assets of self-managed superannuation funds and the balance of life office statutory funds, rose to $1.8 trillion at 31 December 2013.

Contributions to funds with at least $50 million in assets over the December 2013 quarter were $22.7 billion. Total contributions for the year ending December 2013 were $91.5 billion, down 0.9 per cent from the previous year ($92.3 billion).

Outward rollovers exceeded inward rollovers by $50 million in the December quarter. There were $13.8 billion in total benefit payments in the December quarter. Total benefit payments for the year ending December 2013 were $53.3 billion, an increase of 7.7 per cent from the previous year ($49.4 billion).

Net contribution flows (contributions plus net rollovers less benefit payments) totalled $8.8 billion in the December 2013 quarter. Net contribution flows for the year ending December 2013 were $34.1 billion, down 2.3 per cent from the previous year ($34.9 billion).

APRA released a discussion paper on changes to its superannuation statistics on 14 November 2013, in which it proposed to revise the Quarterly Superannuation Performance statistics publication and introduce a Quarterly MySuper Statistics report. Accordingly, select statistics will be released on an interim basis for (at least) the September 2013 and December 2013 quarters, pending completion of this consultation. Further information can be found under the ‘Important notice’ section of the December 2013 Quarterly Superannuation Performance publication and in the discussion paper.

Refer to the publication and discussion paper.

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $6 trillion in assets for Australian depositors, policyholders and superannuation fund members.