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APRA says total superannuation pool worth $1.4 trillion at June 3 (Aussie retirement system)
The Australian ^ | January 09, 2013 | Andrew Main

Posted on 01/08/2013 11:29:34 PM PST by Dundee

AUSTRALIA'S superannuation pie now sits at an official $1.4 trillion, according to figures released today by regulator APRA, and is likely to be even larger following the recent stockmarket rise.

The Australian Prudential Regulation Authority’s (APRA) Annual Superannuation Bulletin said the value of total superannuation assets jumped by $49.6 billion, or 3.7 per cent, to $1.4 trillion in the 12 months to June 30 2102.

They are likely to have climbed by as much as 9 per cent since then, after a 15 per cent rise in equity markets. The fact that most super savers put their money into a number of assets means that not all of the superannuation pool will have benefited from the hike in share prices...

Of the total $1.4 trillion, $833.6 billion are held by APRA-regulated superannuation entities and $439.0 billion are held by self managed superannuation funds (SMSFs), which are regulated by the Australian Tax Office. Most of the remaining $127.9 billion comprises exempt public sector superannuation schemes ($85.7 billion) which are usually called defined benefit (DB) schemes...

(Excerpt) Read more at theaustralian.com.au ...


TOPICS: Australia/New Zealand; Business/Economy; Culture/Society; Foreign Affairs
KEYWORDS:
Australia's superannuation system (similar to 401K's in the US) is worth just over 100% of GDP. Thanks to this pool of savings, the retirement of the Baby Boomers will only severely hurt government expenditure, not kill the country.
1 posted on 01/08/2013 11:29:37 PM PST by Dundee
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To: Dundee
The ruling class the world over is salivating to get their hands on that one.
2 posted on 01/09/2013 1:57:28 AM PST by exnavy (Fish or cut bait ...Got ammo, Godspeed!)
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