Retirement
GFC does little to stunt super growth: ASFA
The financial devastation of the global financial crisis has registered as little more than a blip for super funds’ growth over the last decade, the super fund association has argued.
GFC does little to stunt super growth: ASFA
The financial devastation of the global financial crisis has registered as little more than a blip for super funds’ growth over the last decade, the super fund association has argued.
The median superannuation fund in the accumulation phase produced a 9.1 per cent return for the year ending 30 June 2018, the Association of Super Funds of Australia (ASFA) has reported.
However, the typical fund member in a balanced option has seen returns add more than 85 per cent of the original balance over the last decade, with members in growth options enjoying savings growth of more than 90 per cent, ASFA CEO Dr Martin Fahy said.
Over the last 10 years, the average fund returned 6.5 per cent per annum.
“This is despite the significant impact on members experienced during the global financial cisis,” Mr Fahy observed.
ASFA said the returns are testament to the smoothing power of time, with the average fund returning 10.0 per cent p.a. over the last 56 years, 10.6 per cent p.a. over the last 40 years and 7.6 per cent over the last 25 years.
The average 6.5 per cent p.a. return delivered over the last 10 years is in fact the lowest figure over the periods measured, with 15-year returns at 7.5 per cent p.a., and five-year returns at 9.0 per cent p.a.
“Superannuation is working,” Mr Fahy said.
“An increasing number of retirees now have significant private income above the age pension, meaning they achieve a comfortable standard of living in retirement, rather than just getting by.
“With legislated increases in the superannuation guarantee, this trend will continue and by 2050, half of all retirees will reach the ASFA comfortable standard.”
The superannuation sector currently holds aggregate assets of around $2.7 trillion, ASFA noted, with an average $180,000 per Australian saver. That's up from $167,000 last year.
RELATED ARTICLES
Superannuation
Payday Super passes as Employment Hero, OZEDI and Zepto unite to help small businesses meet new seven-day payment rule
With the Payday Superannuation Bill officially passing through Parliament, Australian businesses are now less than eight months away from a major shift in how superannuation contributions are made — ...Read more
Superannuation
Aware Super appoints Simon Warner as Chief Investment Officer
Aware Super has announced the appointment of Simon Warner as Chief Investment Officer, effective 1 December 2025, following a competitive global search to replace outgoing CIO Damian Graham, who ...Read more
Superannuation
Employers call for pragmatic safeguards to ensure Payday Super reform succeeds
Employment Hero chief executive Ben Thompson has urged the federal government to introduce a phased rollout and reciprocal safeguards to support small businesses as the Payday Super reform approaches ...Read more
Superannuation
Aware Super elevates tech leadership with strategic appointment of Richard Exton
Aware Super, one of Australia's largest industry super funds, has announced a pivotal appointment to its executive team, underscoring the growing importance of technology, data, and artificial ...Read more
Superannuation
Rest appoints Marina Pasika as interim head of private markets
Rest, one of Australia's largest profit-to-member superannuation funds, has announced the appointment of Marina Pasika as the Interim Head of Private Markets. This decision comes as the fund embarks ...Read more
Superannuation
Payday Super bill introduces new challenges for SMBs, reveals Employment Hero CEO
The introduction of the Payday Super bill to the Australian Parliament has sparked a significant response from the business community, particularly among small and medium-sized businesses (SMBs)Read more
Superannuation
Rest urges Parliament to expedite payday super legislation
In a significant move towards enhancing retirement outcomes for Australian workers, Rest, one of the country's largest profit-to-member superannuation funds, has expressed strong support for the ...Read more
Superannuation
Recalibrated super performance test aims to enhance accountability and investment opportunities
In a move that signals a shift rather than a cessation, Australia's government has announced a targeted review of the superannuation performance test. This recalibration, prompted by the latest ...Read more
Superannuation
Payday Super passes as Employment Hero, OZEDI and Zepto unite to help small businesses meet new seven-day payment rule
With the Payday Superannuation Bill officially passing through Parliament, Australian businesses are now less than eight months away from a major shift in how superannuation contributions are made — ...Read more
Superannuation
Aware Super appoints Simon Warner as Chief Investment Officer
Aware Super has announced the appointment of Simon Warner as Chief Investment Officer, effective 1 December 2025, following a competitive global search to replace outgoing CIO Damian Graham, who ...Read more
Superannuation
Employers call for pragmatic safeguards to ensure Payday Super reform succeeds
Employment Hero chief executive Ben Thompson has urged the federal government to introduce a phased rollout and reciprocal safeguards to support small businesses as the Payday Super reform approaches ...Read more
Superannuation
Aware Super elevates tech leadership with strategic appointment of Richard Exton
Aware Super, one of Australia's largest industry super funds, has announced a pivotal appointment to its executive team, underscoring the growing importance of technology, data, and artificial ...Read more
Superannuation
Rest appoints Marina Pasika as interim head of private markets
Rest, one of Australia's largest profit-to-member superannuation funds, has announced the appointment of Marina Pasika as the Interim Head of Private Markets. This decision comes as the fund embarks ...Read more
Superannuation
Payday Super bill introduces new challenges for SMBs, reveals Employment Hero CEO
The introduction of the Payday Super bill to the Australian Parliament has sparked a significant response from the business community, particularly among small and medium-sized businesses (SMBs)Read more
Superannuation
Rest urges Parliament to expedite payday super legislation
In a significant move towards enhancing retirement outcomes for Australian workers, Rest, one of the country's largest profit-to-member superannuation funds, has expressed strong support for the ...Read more
Superannuation
Recalibrated super performance test aims to enhance accountability and investment opportunities
In a move that signals a shift rather than a cessation, Australia's government has announced a targeted review of the superannuation performance test. This recalibration, prompted by the latest ...Read more
