Superannuation assets have jumped 17.2 per cent over the 12 months to September 2013, the Australian Prudential Regulation Authority reported.
Total estimated super assets, including assets of self-managed super funds and the balances of life office statutory funds, rose by $1.75 trillion at 30 September.
Total super assets increased by 5.7 per cent over the September quarter, after adjusting for changes in reporting requirements.
Contributions to funds with at least $50 million in assets over the September 2013 quarter were $21.5 billion. Total contributions for the year ending September were $90.3 billion, down 0.8 per cent from the previous year ($91 billion).
Outward rollovers outdid inward rollovers by $719 million in the September quarter. Total benefit payments for the year ending September rose 6.4 per cent to $51.7 billion from last year's $48.6 billion.
Net contribution flows (contributions plus net rollovers minus benefit payments) totalled $7.4 billion in the September quarter, while it was $32.6 billion for the year ending September, down 7.3 per cent from last year ($35.2 billion).
The annual industry-wide rate of return (ROR) for entities with assets over $50 million for the year ending 30 September was 14.6 per cent, while ROR was 4.7 per cent for assets over $50 million.
APRA recently released a discussion paper on the proposed changes to its ‘Quarterly Superannuation Performance Statistics' publication and introduction of a ‘Quarterly MySuper Statistics report'.
It will therefore release certain statistics on an interim basis for at least the September and December 2013 quarters until this consultation is completed.
SuperRatings research recently showed super funds are sitting at their highest rate of return since the global financial crisis, on par with 2005 levels.
