Quarterly superannuation performance statistics highlights - December 2024

Highlights

Industry overview

Total superannuation assets increased by 2.1 per cent over the quarter to reach $4.2 trillion as at December 2024 (Chart 1), of which $2.9 trillion was in APRA-regulated funds. Superannuation returns were strong over the last 12 months, with an 11.1 per cent return in the year to December 2024.

Chart 1: Assets of superannuation entities

Chart provides a breakdown of superannuation assets by, in descending order, APRA-regulated entities, self-managed super funds, exempt schemes and the balance of life office statutory funds.

Entities with more than 6 members

The comments below relate to superannuation entities with more than six members.

Contributions, benefit transfers and benefit payments

Total contributions were $49.1 billion for the quarter and reached $198.1 billion in the year ending December 2024, an increase of 14.8 per cent from the previous year. Employer contributions were $37.3 billion for the quarter and $129.9 billion for the year ending December 2024, 10.8 per cent higher compared to the previous year. The annual growth included the effect of an increase in the super guarantee contribution rate from 11.0 per cent to 11.5 per cent starting July 2024. Member contributions were $11.8 billion for the quarter and $54.1 billion for the year ending December 2024, 26.7 per cent higher than the previous year. The increase was driven by growth in personal contributions.

Benefit payments totalled $124.4 billion for the year ending December 2024, a 12.0 per cent increase from the previous year. The increase was attributable to a 17.5 per cent increase in pension payments and a 7.8 per cent increase in lump sum payments over the year ending December 2024. Total benefit payments for the quarter comprised $18.5 billion of lump sum benefit payments and $14.4 billion of pension payments (Chart 2).

Net contribution flows (contributions plus net benefit transfers, less benefit payments) were $15.1 billion in the quarter (Chart 3). Net contribution flows for the 12 months to December 2024 increased by 17.5 per cent to $68.2 billion.

Chart 2: Benefit Payments

Chart shows total benefit payments growth over past years including lump sum payments and pension benefit payments.

Chart 3: Net contribution flows

Chart shows net contribution flows over past five years as total contributions less benefit payments plus net benefit transfers.

Financial performance

The five-year annualised rate of return (ROR) to December 2024 was 6.0 per cent (Chart 4). The ROR for the year ending December 2024 was strong at 11.1 per cent.

Chart 4: Five-year annualised rate of return

Chart shows the five-year annualised rate of return over the past five years with a December 2024 value of 6.0 per cent.

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