Total superannuation increases marginally in September quarter

Total superannuation assets increased relatively slightly in the September 2018 quarter.

According to recently released APRA figures, there is now $2.759 trillion in superannuation as at the end of September 2018. This is up $40.4 billion since June 2018 and up $223.10 billion from September 2017.

The strongest growth was in the MySuper sector, up 2.58% ($17.50 billion) during the September quarter. The whole APRA-regulated sector, which includes MySuper products, was up 1.90% ($33.70 billion). Total SMSF assets were up 0.60% or $4.5 billion.

Change in superannuation assets (qtr v qtr, rounded) Dec 18 - Sept 18

Note that there appears to have been revisions upwards to the earlier reported figures as at June 2018. The above figures compare September 2018 with the revised figures.

APRA calculates the annual Rate of Return (ROR) for large super funds (more than four members) for the year ending September 2018 as 8.1%. The five year average annualised ROR was 7.3%.

“There were $26.4 billion of contributions in the September 2018 quarter, up 12.2 per cent from the September 2017 quarter ($23.5 billion). Total contributions for the year ending September 2018 were $110.9 billion. Outward benefit transfers exceeded inward benefit transfers by $1.1 billion in the September 2018 quarter,” said APRA.

“There were $19.0 billion in total benefit payments in the September 2018 quarter, an increase of 9.7 per cent from the September 2017 quarter ($17.3 billion). Total benefit payments for the year ending September 2018 were $72.0 billion. Lump sum benefit payments ($9.1 billion) were 48.0 per cent and pension benefit payments ($9.9 billion) were 52.0 per cent of total benefit payments in the September 2018 quarter. For the year ending September 2018, lump sum benefit payments ($35.0 billion) were 48.5 per cent and pension payments ($37.1 billion) were 51.5 per cent of total benefit payments.”

“Net contribution flows (contributions plus net benefit transfers less benefit payments) totalled $6.3 billion in the September 2018 quarter, an increase of 29.6 per cent from the September 2017 quarter ($4.8 billion). Net contribution flows for the year ending September 2018 were $35.8 billion.”

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