APRA releases superannuation statistics for March 2021
The Australian Prudential Regulation Authority (APRA) has released its Quarterly Superannuation Performance publication and the Quarterly MySuper Statistics report for the March 2021 quarter.
Key statistics for the superannuation industry as at 31 March 2021:
| March 2020 | March 2021 | Change |
Total superannuation assets | $2,744.9 billion | $3,126.9 billion | +13.9% |
Total APRA-regulated assets | $1,852.2 billion | $2,131.6 billion | +15.1% |
Of which: total assets in MySuper products | $712.5 billion | $850.0 billion | +19.3% |
Total self-managed super fund assets | $694.3 billion | $787.1 billion | +13.4% |
Exempt public sector superannuation schemes assets | $142.5 billion | $157.6 billion | +10.6% |
Balance of life office statutory fund assets | $56.0 billion | $50.5 billion | -9.8% |
Superannuation assets totalled over $3.1 trillion at the end of the March 2021 quarter. This was a 15.1 per cent increase in the value of total superannuation assets over the 12 months to 31 March 2021 due to strong investment performance.
Total contributions increased 0.8 per cent over the year to 31 March 2021. Over this period, employer contributions ($97.8 billion) increased 3.0 per cent, of which Super guarantee contributions ($73.2 billion) increased 5.4 per cent. Member contributions ($23.4 billion) declined by 7.3 per cent over the year, however positive quarter on quarter growth in personal contributions over the past two quarters indicate a return to long-term trend levels. Benefit payments declined over the past two quarters with lump-sum and pension payments returning to pre-COVID levels, and totalled $18.3 billion for the March quarter. Consequently, net contribution flows remained positive at $10.2 billion for this quarter, a 25.2 per cent increase on the December quarter.
Key statistics for entities with more than four members for the year ended 31 March 2021:
| March 2020 | March 2021 | Change |
Total contributions | $120.2 billion | $121.2 billion | +0.8% |
Total benefit payments | $83.5 billion | $110.1 billion | +31.9% |
Net contribution flows | $41.3 billion | $9.8 billion | -76.3% |
Copies of these publications are available on APRA’s website at: Quarterly superannuation statistics.
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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.