Australia’s total superannuation assets have increased 8.5 per cent year on year to $3.56 trillion in September 2023, according to the latest quarterly figures from the Australian Prudential Regulation Authority (APRA).
The growth over the year was attributed to strong contribution inflows and positive investment returns. However, the figure declined on a quarterly basis due to an increase in member benefit payments and negative investment returns.
APRA-regulated assets’ growth outpaced total assets at 10.1 per cent, claiming $2.46 trillion as of September 2023. Contributions increased by 12.5 per cent year-on-year to $169 billion, and benefit payments increased by 21.8 per cent to $107.5 billion.
