APRA releases superannuation statistics for March 2022
The Australian Prudential Regulation Authority (APRA) has released its
Quarterly Superannuation Performance publication and the Quarterly
MySuper Statistics report for the March 2022 quarter.
Key
statistics for the superannuation industry as at 31 March
2022:
March 2021 March 2022 Change
Total
superannuation assets $3,136. 2 billion $3,441. 5 billion +9.
7%
Total APRA-regulated assets $2,131. 9 billion $2,337. 2
billion +9. 6%
Of which: total assets in MySuper products
$840. 5 billion $927. 9 billion +10. 4%
Total self-managed
super fund assets $796. 1 billion $892. 0 billion +12.
0%
Exempt public sector superannuation schemes assets $157. 6
billion $161. 8 billion +2. 7%
Balance of life office
statutory fund assets $50. 6 billion $50. 4 billion -0.
4%
Superannuation assets totalled over $3. 4 trillion at the
end of the March 2022. This was a 9. 7 per cent increase in the value
of total superannuation assets over the past year, reflecting strong
investment performance and positive contributions growth due to
COVID-19 fiscal stimulus received over the period. However, the March
2022 quarter reflects contributions beginning to revert to long-term
trends and weaker investment performance due to concerns over higher
interest rates with rising inflation exacerbated by constrained supply
chains, and the uncertainty brought about by the conflict in Ukraine.
Contributions totalled $141. 6 billion, an increase of 16. 9
per cent for the year ending March 2022. Over this period, employer
contributions increased by 6. 6 per cent totalling $104. 2 billion, of
which Superannuation Guarantee contributions ($77. 3 billion)
increased 5. 3 per cent. Member contributions ($37. 4 billion)
increased 60. 0 per cent over this period, of which personal
contributions ($34. 9 billion) increased 61. 7 per cent. This
contributions growth can be largely attributed to the increase in
household savings during the onset of COVID-19, although member
contribution levels have begun to revert back to longer term trends in
the past two quarters.
Benefit payments totalled $83. 9
billion, declining 23. 8 per cent for the year ending March 2022. Of
this, lump sum payments totalled $44. 1 billion, a decline of 38. 0
per cent over the year, reflecting the closure of the Early Release
Scheme and lump sum payments returning to average levels. Pension
payments totalled $39. 8 billion over the year, an increase of 2. 3
per cent.
Key statistics for entities with more than four
members for the year ended 31 March 2022:
March 2021 March
2022 Change
Total contributions $121. 2 billion $141. 6
billion +16. 9%
Total benefit payments $110. 1 billion $83.
9 billion -23. 8%
Net contribution flows $9. 8 billion $58.
9 billion +500. 8%[1]
Copies of the publication are available
on APRA’s website at: Quarterly superannuation statistics.
1 Net contribution flows for the year ended 31 March 2022 was
significantly higher due to closure of ERS scheme and strong growth in
contributions.