APRA releases superannuation statistics for September 2021
The Australian Prudential Regulation Authority (APRA) has released its Quarterly Superannuation Performance publication and the Quarterly MySuper Statistics report for the September 2021 quarter.
Key statistics for the superannuation industry as at 30 September 2021:
| September 2020 | September 2021 | Change |
|---|---|---|---|
Total superannuation assets | $2,896.9 billion | $3,403.6 billion | +17.5% |
Total APRA-regulated assets | $1,953.5 billion | $2,324.2 billion | +19.0% |
Of which: total assets in MySuper products | $745.8 billion | $922.9 billion | +23.7% |
Total self-managed super fund assets | $736.0 billion | $860.5 billion | +16.9% |
Exempt public sector superannuation schemes assets | $147.9 billion | $164.1 billion | +11.0% |
Balance of life office statutory fund assets | $59.4 billion | $54.8 billion | -7.7% |
Superannuation assets totalled $3.4 trillion at the end of the September 2021. This was a 17.5 per cent increase in the value of total superannuation assets over the past four quarters, maintaining the strong investment performance and positive contributions growth achieved over the year.
Contributions totalled $134.1 billion, an increase of 11.6 per cent for the year ending September 2021. Over this period, employer contributions increased by 3.8 per cent totalling $100.6 billion, of which Superannuation Guarantee contributions ($74.2 billion) increased 3.7 per cent. Member contributions ($33.5 billion) increased 43.6 per cent over this period, of which personal contributions ($31.2 billion) increased 45.0 per cent. Personal contributions over the quarter to September 2021, while reduced from the June 2021 quarter, have persisted to remain at a higher level than long term trend.
Benefit payments totalled $81.8 billion, declining 27.1 per cent for the year ending September 2021. Of this, lump-sum payments totalled $42.5 billion, a decline of 41.2 per cent over the year reflecting benefit payments returning to historically average levels and removing effects of the Early Release Scheme withdrawals incurred last year. Pension payments totalled $39.4 billion over the year. While a decrease of 1.7 per cent from last year, pension payment amounts remain in line with historical levels of pension outflows.
Key statistics for entities with more than four members for the year ended 30 September 2021:
| September 2020 | September 2021 | Change |
|---|---|---|---|
Total contributions | $120.2 billion | $134.1 billion | +11.6% |
Total benefit payments | $112.3 billion | $81.8 billion | -27.1% |
Net contribution flows | $10.2 billion | $53.9 billion | +428.4% |
Copies of the publication 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.