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As of June 2013, superannuation in Australian funds was valued at $1,617 billion as follows:
|
Australian Superannuation - Total Assets $billions as at June 30 |
|||||
| Type of Fund |
2009 |
2010 | 2011 | 2012 | 2013 |
| Corporate | 55 | 56 | 58 | 56 | 62 |
| Industry | 192 | 226 | 251 | 267 | 323 |
| Public Sector | 152 | 173 | 211 | 223 | 257 |
| Retail | 305 | 340 | 368 | 371 | 423 |
| Small (<5 members)
|
328 | 368 | 425 | 441 | 507 |
| Statutory Funds | 35 | 35 | 38 | 42 | 45 |
| TOTAL | 1067 | 1198 | 1351 | 1400 | 1617 |
Source: APRA
Superannuation is expected to more than double by 2020 and there are three good reasons:
Tax incentives still make superannuation an attractive investment and retirement savings proposition for most Australians.
Investments by superannuation funds have traditionally provided returns in excess of CPI and are expected to continue to do so.
Employers must contribute 9.25 per cent in 2013/14 of salaries to super. (The rate rises to 9.5% on 1 July 2014, thereafter by 0.5% a year until it reaches 12% from 1 July 2019)
The average Australian will spend 25 years in retirement. Choosing the right superannuation strategy and maximising your super contributions will ensure you best enjoy those years.
In this section of our website we seek to explain the benefits (and the pitfalls) of investment via superannuation. We recommend you review the following web pages in sequence:
Superannuation - The key facts
Superannuation for the self-employed
Superannuation - Getting advice
FURTHER READING:
Super decisions by ASIC
