The Australian Prudential Regulation Authority (APRA) has released the latest superannuation statistics for the June 2021 quarter.
APRA's latest Quarterly Superannuation Performance publication revealed that superannuation assets totalled $3.3 trillion at the end of the June 2021 quarter, a 14.7% increase from $2,880.2 billion in the June 2020 quarter.
APRA noted that the increase in the total superannuation assets was driven by strong investment performance and positive contributions of growth.
Total contributions ($127.0 billion) increased by 5.0% for the year ending June 2021. Over this period, employer contributions ($98.5 billion) increased by 1.9%, of which superannuation guarantee contributions ($74.1 billion) increased by 4.3%. Meanwhile, member contributions ($28.5 billion) increased by 17.1%, of which personal contributions ($26.5 billion) increased by 17.3%.
By contrast, total benefit payments ($94.4 billion) declined by 5.5% for the year ending June 2021. Over this period, lump-sum payments ($55.8 billion) dropped by 5.3%, and pension payments ($38.6 billion) by 5.8%, reflecting normalisation to pre-Early Release Scheme levels.
Consequently, net contribution flows totalled $34.2 billion for the year ending June 2021, a 44.3% increase over the previous year.
APRA confirmed it will release the Quarterly MySuper Statistics for the June 2021 quarter on August 31, 2021. It will also publish the YourFuture and Your Super Performance test publication on the same date to ensure data relating to MySuper products is released consistently.
