APRA releases quarterly superannuation statistics for June 2020

The Australian Prudential Regulation Authority (APRA) has released its Quarterly Superannuation Performance publication and the Quarterly MySuper Statistics report for the June 2020 quarter.

Key statistics for the superannuation industry as at 30 June 2020:

June 2019

June 2020

Change

Total superannuation assets

$2,880.7 billion

$2,864.1 billion

-0.6%

Total APRA-regulated assets

$1,925.4 billion

$1,921.8 billion

-0.2%

Of which: total assets in MySuper products

$756.5 billion

$731.3 billion

-3.3%

Total self-managed super fund assets

$749.1 billion

$733.1 billion

-2.1%

Exempt public sector superannuation schemes assets

$148.4 billion

$146.5 billion

-1.3%

Balance of life office statutory fund assets

$57.8 billion

$62.8 billion

+8.7%

Over the 12 months to June 2020 there was a 0.6 per cent decrease in the value of total superannuation assets. The annual increase in the balance of life office statutory fund assets reflects internal restructuring by some entities.

Quarterly benefit payments were $37.4 billion, significantly higher than the March 2020 quarter ($21.1 billion) and the June 2019 quarter ($20.5 billion) due to payments made under the Early Release Scheme which came into effect on 20 April 2020. Amounts transferred to the Australian Tax Office as inactive low balance accounts are also counted in the June 2020 benefit payments figure. Benefit payments for the year to June 2020 were 31.2 per cent higher than to June 2019.

Key statistics for entities with more than four members for the year ended 30 June 2020:

June 2019

June 2020

Change

Total contributions

$114.7 billion

$120.6 billion

+5.2%

Total benefit payments

$76.5 billion

$100.4 billion

+31.2%

Net contribution flows

$38.0 billion

$23.5 billion

-38.2%

Copies of the publications are available on APRA’s website at: Quarterly superannuation statistics.

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