Almost $2.2 trillion in superannuation as at December 2016

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There was $2.1985 trillion in total superannuation assets at the end of December 2016, up 7.4% from a year earlier, according to the latest APRA Quarterly Superannuation Performance and Quarterly MySuper Statistics publications.

Total assets in APRA-regulated funds was $1,367.3 trillion, up 8.8% from December 2015. Of this $533.9 billion was in MySuper products, up 18.6%.

Assets in SMSFs grew 8.3% to $653.8 billion as at December 2016.

APRA calculates the industry-wide Rate of Return (ROR) for large super funds for the 2016 calendar year as 6.8%. The five year average annualised ROR was 9.2%.

Total contributions to super funds with more than four members were little changed, down -0.2, at $103.7 billion for the 2016 calendar year.

Contributions, to super funds with more than four members, were up 2.7% in the December 2016 quarter, compared to December 2015, to $26.0 billion. Total contributions for the 2016 calendar year were $103.7 billion.

Total benefit payments, from large super funds, were up 10.3% in the December 2016 quarter, compared to a year earlier, to $16.6 billion.

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