The total pool of superannuation assets in Australia reached $2 trillion on 31 March 2015, up 14.3 per cent on the previous year, according to the latest statistics from APRA.
The prudential regulator released its superannuation performance statistics for the March 2015 quarter yesterday.
Of the $2 trillion in super, $420.2 billion was invested in MySuper products as at the end of the March – with a 23.1 per cent increase in total assets in MySuper products over the year.
Throughout the year to 31 March 2015 there were $101.6 billion in contributions to the superannuation system, and the March 2015 quarter saw $23.7 billion in contributions.
Super funds paid out $14.4 billion in total benefit payments in March 2015, up 9.2 per cent from the March 2014 quarter.
Total benefit payments for the year ending March 2015 were $57.5 billion.
"Net contribution flows (contributions plus net benefit transfers less benefit payments) totalled $8.7 billion in the March 2015 quarter, a decrease of 1.4 per cent from the March 2014 quarter ($8.8 billion)," APRA said.
Net contribution flows for the year ending march 2015 were $39.3 billion.
The industry-wide rate of return for entities with more than four members for the year ending 31 March 2015 was an impressive 13 per cent.
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