Original article by Glenda Korporaal
The Australian – Page: 14 : 24-Aug-22

Data from the Australian Prudential Regulation Authority shows that net contributions to superannuation funds increased by 88 per cent in 2021-22. Net contributions exceeded $63bn, with inflows of $146.5bn being partially offset by some $85.8bn worth of benefits being paid out to members. Employer contributions rose by 10.2 per cent to $108.6bn, with the super guarantee rising by 0.5 per cent to 9.5 per cent on 1 July 2021. Personal contributions increased by about 32.7 per cent, to $35.3bn. The total value of super funds’ assets fell from $3.38trn to $3.31trn during the financial year.

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY