The Australian Prudential Regulation Authority released the September 2015 quarter statistics for Australian superannuation funds showing that the total assets held is set to burst through the $2 trillion mark very soon.
At the end of the September quarter total superannuation fund assets was $1.994 Billion, an increase of 6.5% since the end of the June quarter. Self-Managed Superannuation Fund assets increased 3.8% over the quarter to $576 billion.
APRA also released an article focusing on the transition to default ‘My Super’ products that showed a strong 15.4% increase during the quarter.
Total benefit payments during the quarter were $62.1 billion, a quarterly increase of 12.1%.
Quarterly Superannuation Performance:
www.apra.gov.au/Super/Publications/Pages/quarterly-superannuation-performance.aspx
Quarterly MySuper Statistics:
www.apra.gov.au/Super/Publications/Pages/Quarterly-MySuper-statistics.aspx