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Showing 11 - 20 of 49 results for "APRA statistics"

Genetic test results to no longer hinder life cover

JAMIE WILLIAMSON  |  WEDNESDAY, 11 SEP 2024
... insurers can use results where the total amount of lump sum death cover is greater than $500,000. However, in 2023 APRA statistics show the average sum of insured individual policies of lump sum death cover - excluding group cover - was about $714,000. ...

Spaceship returns 19.41% to super members

JAMIE WILLIAMSON  |  TUESDAY, 9 JUL 2024
... 21,000 member accounts and roughly $850 million, the vast majority of which is in its GrowthX product, as per APRA statistics.

Smaller super funds eye AustralianSuper, ART dominance

KARREN VERGARA  |  FRIDAY, 21 JUN 2024
... dominate the superannuation sector in terms of total assets, the smaller players are becoming serious contenders. New APRA statistics show that AustralianSuper had more than 3.4 million members at the end of March with $335.3 billion in savings. ART ...

Super pool jumps to $3.9tn

KARREN VERGARA  |  WEDNESDAY, 29 MAY 2024
... $3.9 trillion, jumping 11.3% at the end of March despite the number of APRA-regulated funds shrinking. The latest APRA statistics show that a wave of contributions drove the momentum as well as investments returning 10.9% p.a. Across the sectors, industry ...

Treasury mulls reforming use of genetic test results by life insurers

JAMIE WILLIAMSON  |  MONDAY, 27 NOV 2023
... instance, insurers can use results where the total amount of lump sum death cover is greater than $500,000. However, APRA statistics show the average sum of insured individual policies of lump sum death cover - excluding group cover - is about $714,000. ...

Qantas Super confirms merger plans

JAMIE WILLIAMSON  |  MONDAY, 25 SEP 2023
... consolidation in the sector, namely the dwindling number of corporate super funds, with just 11 remaining. According to APRA statistics, in 2004 there was 761. "Any potential merger partner would need to demonstrate their ability to administer defined ...

MySuper inches to $1tn

KARREN VERGARA  |  WEDNESDAY, 24 MAY 2023
... saw MySuper assets grow 5.1% to surpass the previous high reached in December 2021 of $947 billion, the latest APRA statistics show. The total superannuation asset pool hit $3.5 trillion, increasing steadily at 1.1% year on year. Contribution flows ...

Superannuation changes limit tax benefits for top earners: ASFA

ANDREW MCKEAN  |  FRIDAY, 21 APR 2023
... providing coverage to a broader range of members, especially those who are most in need in Australia. According to APRA statistics, in 2021, approximately 8.6 million Australians had death cover, while around 7.7 million had total permanent disability ...

Total super assets grow to $3.4tn

ANDREW MCKEAN  |  WEDNESDAY, 25 MAY 2022
... lump sum benefit payments have reverted to longer term trends following the removal of the Early Release Scheme. APRA statistics laid bare the ramifications of the super early release scheme showing a relatively stable five-year trend of lump sum benefit ...

Members lean on super for financial hardships

KARREN VERGARA  |  TUESDAY, 1 FEB 2022
... superannuation funds to access retirement savings based on compassionate grounds and in the event of financial hardship, APRA statistics show. Released overnight, APRA's June 2021 Superannuation Bulletin reveals that super funds paid out $16.5 billion ...