Super assets total $3.3t

Superannuation assets have started to normalise to pre-early release to superannuation scheme levels with assets totalling $3.3 trillion at the end of the June 2021 quarter, according to data. 

Data from the Australian Prudential Regulation Authority (APRA) found this was a 14.7% increase in the value of total super assets due to strong investment performance and positive contributions to growth. 

APRA said total contributions ($127 billion) increased 5% for the year ending June 2021. Over this period, employer contributions ($98.5 billion) increased 1.9%, of which superannuation guarantee contributions ($74.1 billion) increased 4.3%. Member contributions ($28.5 billion) increased 17.1%, of which personal contributions ($26.5 billion) increased 17.3%. 

The data also found total benefit payments ($94.4 billion) declined 5.5% for the year ending June 2021.  

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“Over this period, lump-sum payments ($55.8 billion) declined 5.3%, and pension payments ($38.6 billion) declined 5.8% representing normalisation to pre-early release scheme levels,” APRA said. 

“Consequently, net contribution flows were $34.2 billion for the year ending June 2021, a 44.3% increase over the previous year.”