APRA releases superannuation statistics for March 2020
The Australian Prudential Regulation Authority (APRA) has released its Quarterly Superannuation Performance publication and the Quarterly MySuper Statistics report for the March 2020 quarter.
Key statistics for the superannuation industry as at 31 March 2020:
| March 2019 | March 2020 | Change |
|---|---|---|---|
Total superannuation assets | $2,738.8 billion | $2,731.4 billion | -0.3% |
Total APRA-regulated assets | $1,836.1 billion | $1,856.6 billion | +1.1% |
Of which: total assets in MySuper products | $713.0 billion | $709.9 billion | -0.4% |
Total self-managed super fund assets | $704.2 billion | $675.6 billion | -4.1% |
Exempt public sector superannuation schemes assets | $144.0 billion | $142.5 billion | -1.0% |
Balance of life office statutory fund assets | $54.4 billion | $56.6 billion | +4.0% |
Over the March 2020 quarter, there was a decrease of 7.7 per cent in total superannuation assets, comprising a decrease of 7.4 per cent in APRA-regulated assets, a decrease of 6.5 per cent in exempt public sector superannuation schemes assets, and a decrease of 9.4 per cent in self-managed super fund assets. Total benefit payments included amounts transferred to the Australian Tax Office as inactive low balance accounts.
Key statistics for entities with more than four members for the year ended 31 March 2020:
| March 2019 | March 2020 | Change |
|---|---|---|---|
Total contributions | $113.2 billion | $121.1 billion | +6.9% |
Total benefit payments | $75.0 billion | $85.8 billion | +14.5% |
Net contribution flows | $35.6 billion | $45.4 billion | +27.7% |
Copies of the publications are available on APRA’s website at: Quarterly superannuation statistics.
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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.