SMSF establishments at lowest level in years in December 2017 quarter

The establishment of SMSFs is at the lowest it has been since at least 2008.

According to the latest ATO statistics only 5,456 SMSFs were established in the December 2017 quarter – the lowest number of any quarter in years.

 SMSF establishments and wind-ups - June 2013 - December 2017

Data source: Self-managed super fund quarterly statistical report – December 2017

Note that the spike is wind-ups in the September quarter is due to action by the ATO, cancelling the ABNs of almost 9,000 SMSFs for which there was no evidence they were operating.

“As a result, there was an upward revision in the number of SMSFs that wound up in the September 2017 quarter. This also led to flow-on revisions of previously reported estimates for the total number of SMSFs and SMSF members for the quarter,” said the ATO. There can also be a lag in establishments or wind-ups being reported to the ATO, and so the data is subject to revisions. Read more...

SMSF investment returns on par with large APRA-regulated super funds

SMSF investment returns are on par with those of large APRA-regulated superannuation funds, according to recent ATO data.

The SMSF Association said this was welcome news for the over 1 million people with an SMSF. The Association pointed to the, recently released, 2015/16 SMSF statistical overview as “strongly” supporting the view that SMSF members can effectively mange their retirement investment portfolios.

“This strong performance, the fifth consecutive year of positive returns, is also an endorsement of the SMSF specialists who advise many members about their investment portfolios,” said SMSF Association CEO John Maroney. Read more...

Millennials total share of super doubled over last decade

The share of total superannuation held by Millennials has more than doubled in the past decade, but younger generations are also the least satisfied with the financial performance of their super fund.

The share of super held by Millennials increased from 6.4% in September 2007 to 14.6% in September 2017, according to figures released by Roy Morgan Research. This represents an increase of $226 billion.

“Gains in superannuation market share over the last decade were seen across all three of the younger generations, with Generation X up 8.7% points (to 36.2%), Millennials up 8.2% points (to 14.6%) and Generation Z up from zero to 1.9%,” said Roy Morgan Research. Read more...

Total super assets up 10% in 2016/17 to $2.3 trillion

Total superannuation assets have grown by 10.0% over the 2016/17 financial year to $2.324 trillion, according to the latest APRA statistics.

Total assets in APRA-regulated super funds stood at $1.444 trillion at 30 June 2017, up 11.7% from a year earlier. This includes $594.7 billion in MySuper assets, up 25.5%.

Assets in SMSFs reached $696.7 billion, up 9.8% for the financial year.

Data source: APRA releases superannuation statistics for June 2017

For funds with over four members both contributions and benefit payments were up. Total contributions for the 2016/17 financial year for such funds were $116.9 billion, up 12.2%. Total benefit payments were up 15.1% to $74.5 billion. Read more...

SMSF establishments hit new low in March 2017 quarter – only 6,180

The establishments of new SMSFs has dropped to a new low, according to the latest ATO statistics.

Only 6,180 SMSFs were established in the March 2017 quarter, according to the ATO Self-managed super fund statistical report – March 2017, compared to 6,721 in the December 2016 quarter. The March quarter is generally the lowest for SMSF establishments, but this is considerably lower than any quarter since at least mid-2012 – the earliest in the ATO data, which recorded 11,681 SMSF establishments. Read more...

Almost $2.3 trillion in superannuation at March 2017: APRA

Assets in superannuation have increased by 11.2% over the twelve months to March 2017, to $2.3 trillion, according to the latest APRA statistics.

As at March 2017 there was $1,400.8 billion in APRA-regulated superannuation funds, an increase of 12.1%. This includes $555.0 billion in MySuper products, an increase of 22.6%.

At the same date there was $674.7 million in SMSFs – an increase of 12.8%.

“The annual industry-wide rate of return (ROR) for entities with more than four members for the year ending March 2017 was 10.5 per cent. The five year average annualised ROR to March 2017 was 8.6 per cent,” said APRA. Read more...

Almost $2.2 trillion in superannuation as at December 2016

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%. Read more...

$2.1 trillion in superannuation, APRA-regulated fund consolidation continues

There was almost $2.1 trillion in total superannuation assets as at 30 June 2016, according to the recently released superannuation statistics from APRA.

This includes $1.292.24 billion in APRA-regulated funds, of which $473.65 billion was in MySuper products, and $621.70 billion in SMSFs.

“Over the 10 years from June 2006 to June 2016, total superannuation industry assets increased by 132.1 per cent from $0.9 trillion to $2.1 trillion. Over this period, APRA-regulated assets increased by 126.7 per cent from $570.1 billion to $1,292.2 billion and SMSF assets increased by 206.0 per cent from $203.2 billion to $621.7 billion,” said APRA, in the 2016 Annual Superannuation Bulletin. Read more...

SMSF growth slows again in September 2016 quarter

The total number of SMSFs is still growing, though the growth continued to slow in the September 2016 quarter, according to the latest SMSF statistics.

The number of SMSFs reached a new high in September 2016, but establishments are still declining.

SMSF establishments and wind-ups June 2012 - Sept 2016, ato smsf statistics

Data source: Self-managed super fund statistical report – September 2016

Though the wind-up figures is likely to be revised up. The ATO warns that there are can be some issues with the data in the statistical releases: “Much of the information in the statistical tables is estimated, based on data reported to us. Caution should be taken when using or presenting this data.” Read more...

Personal super contributions decline markedly in September quarter

There has been a marked decline in personal contributions, which includes non-concessional contributions, to super funds in September 2016, according to the latest statistics from APRA – over a period where there was uncertainty around the future non-concessional contribution rules.

The APRA statistics for super funds with more than four members show a 28.3% decline in personal superannuation contributions in the September 2016 quarter compared to the September 2015 quarter – down from $5.341 billion to $3.990 billion. The statistics also show 15.9% decline in personal contributions for the year ending September 2016 compared to a year earlier, down from $24.156 billion to $20.315 billion. Read more...