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Public sector super looking healthy
The level of funds under management (FUM) in public sector superannuation schemes grew by 77 per cent between June 1999 and June this year, according to the latest data compiled by actuarial firm Plan for Life.
The Plan for Life data revealed that FUM in the sector grew from $84.38 billion to $149.64 billion during the period.
According to the managing director of Plan for Life, Simon Solomon, public sector funds are amongst the fastest growing in Australia.
“The leading public sector super funds all have the potential to compete very strongly with master funds and platforms,” he said.
Solomon said the largest public sector funds were State Super NSW ($28.6 billion), Qsuper ($19.1 billion) and Emergency Services Super ($17.1 billion).
AUTHOR
Mike Taylor
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