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APRA releases quarterly superannuation statistics for March 2014

Thursday 22 May 2014

 

14.10

The Australian Prudential Regulation Authority (APRA) today released its March 2014 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 $1.84 trillion at 31 March 2014.

Contributions to funds with at least $50 million in assets over the March 2014 quarter were $22.7 billion, up 9.1 per cent from the March 2013 quarter ($20.8 billion). Total contributions for the year ending March 2014 were $93.5 billion.

Outward rollovers exceeded inward rollovers by $466 million in the quarter. There were $13.4 billion in total benefit payments in the March 2014 quarter, an increase of 10.3 per cent from the March 2013 quarter ($12.1 billion). Total benefit payments for the year ending March 2014 were $54.6 billion.

Net contribution flows (contributions plus net rollovers less benefit payments) totalled $8.8 billion in the March 2014 quarter, an increase of 22.1 per cent from the March 2013 quarter ($7.2 billion). Net contribution flows for the year ending March 2014 were $35.7 billion.

Copies of the publication are available on APRA’s website.

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.