APRA releases superannuation statistics for December 2021
The Australian Prudential Regulation Authority (APRA) has released its Quarterly Superannuation Performance publication and the Quarterly MySuper Statistics report for the December 2021 quarter.
Key statistics for the superannuation industry as at 31 December 2021:
| December 2020 | December 2021 | Change |
|---|---|---|---|
Total superannuation assets | $3,046.5 billion | $3,473.1 billion | +14.0% |
Total APRA-regulated assets | $2,063.9 billion | $2,375.2 billion | +15.1% |
Of which: total assets in MySuper products | $803.7 billion | $950.1 billion | +18.2% |
Total self-managed super fund assets | $777.5 billion | $876.7 billion | +12.8% |
Exempt public sector superannuation schemes assets | $154.4 billion | $166.6 billion | +7.9% |
Balance of life office statutory fund assets | $50.6 billion | $54.6 billion | +7.9% |
Superannuation assets totalled $3.5 trillion at the end of the December 2021. This was a 14.0 per cent increase in the value of total superannuation assets over the past year, reflecting strong investment performance and positive contributions growth achieved over the period.
Contributions totalled $139.1 billion, an increase of 15.5 per cent for the year ending December 2021. Over this period, employer contributions increased by 5.7 per cent totalling $102.7 billion, of which Superannuation Guarantee contributions ($76.0 billion) increased 5.0 per cent Member contributions ($36.4 billion) increased 58.9 per cent over this period, of which personal contributions ($33.9 billion) increased 60.5 per cent. Contributions made over the year have exceeded long term trends, and the large increase is likely a consequence of member reactions to COVID-19 related measures, such as increases in lockdown savings and stronger engagement with financial advice.
Benefit payments totalled $82.3 billion, declining 27.2 per cent for the year ending December 2021. Of this, lump-sum payments totalled $42.7 billion, a decline of 41.5 per cent over the year reflecting benefit payments returning to historically average levels after the closure of the Early Release Scheme (ERS). Pension payments totalled $39.6 billion over the year remaining relatively unchanged from the previous year.
Key statistics for entities with more than four members for the year ended 31 December 2021:
| December 2020 | December 2021 | Change |
Total contributions | $120.5 billion | $139.1 billion | +15.5% |
Total benefit payments | $113.0 billion | $82.3 billion | -27.2% |
Net contribution flows | $7.5 billion | $58.5 billion | +676.7%1 |
Footnotes
1 Net contribution flows for the year ended 31 December 2021 was significantly higher due to closure of ERS scheme and strong growth in contributions.
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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.