The growth in assets of Australian Prudential Regulation Authority (APRA)-regulated superannuation funds outstripped that for Self-Managed Superannuation Funds (SMSFs) during the March quarter, according to the latest APRA superannuation statistics.
The data, released today, reveals that total superannuation assets increased by 6.7 per cent to reach $2,782 trillion, of which $1,836 was held by APRA-regulated funds, compared to $746.6 held by SMSFs.
However, the same data revealed the continuing pattern of the contributions declining as members exit and begin decumulation.
The statistics showed a 2.7 per cent decline in total contributions for the year ended March, to $113.2 billion with a commensurate increase in benefit payments to $75.1 billion.
Net contribution flows declined by 10.2 per cent over the period to $35.4 billion.
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