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APRA releases quarterly superannuation statistics for September 2013

Thursday 21 November 2013

 

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The Australian Prudential Regulation Authority (APRA) today released its September 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 $1.75 trillion at 30 September 2013. 

Contributions to funds with at least $50 million in assets over the September 2013 quarter were $21.5 billion. Total contributions for the year ending September 2013 were $90.3 billion, down 0.8 per cent from the previous year ($91.0 billion).

Outward rollovers exceeded inward rollovers by $719 million in the September quarter. Total benefit payments for the year ending September 2013 were $51.7 billion, an increase of 6.4 per cent from the previous year ($48.6 billion).

Net contribution flows (contributions plus net rollovers less benefit payments) totalled $7.4 billion in the September 2013 quarter. Net contribution flows for the year ending September 2013 were $32.6 billion, down 7.3 per cent from the previous year ($35.2 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 September 2013 Quarterly Superannuation Performance publication and in the discussion paper.

Refer to the publication and discussion paper for more information.

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.