The Australian Prudential Regulation Authority (APRA) has released its 2024 annual superannuation statistics publications, with the annual series expanded to include fund-level expenditure and detailed insurance data for the first time. The expenditure data show total industry expenditure of AUD 12.7 billion for the year ending June 2024, up 15% from the financial year ending June 2023, with growth slightly exceeding the increase in industry assets over the same period. Building on an initial expenditure release and a letter to trustees in October 2024, APRA is using the new data to review and scrutinise expenditure where member benefits may not be evident. The new insurance dataset includes fund-level information on claims, coverage, premiums and member engagement metrics, and APRA noted it is working with the Australian Securities and Investments Commission (ASIC) on member outcomes. APRA will publish the expenses and fund-level insurance data annually and will provide updates on its expenditure review over the coming months; the 2023–24 data are provided as supplementary tables to its Annual Fund Level Superannuation Statistics, Annual Superannuation Bulletin and Annual MySuper statistics.
Australian Prudential Regulation Authority 2025-01-30
Australian Prudential Regulation Authority publishes 2024 superannuation statistics adding fund-level expenditure and insurance data
The Australian Prudential Regulation Authority (APRA) released its 2024 superannuation statistics, now including fund-level expenditure and detailed insurance data. Total industry expenditure reached AUD 12.7 billion, a 15% increase from the previous year. APRA is reviewing this data to assess impacts on member benefits and is collaborating with the Australian Securities and Investments Commission (ASIC) on member outcomes. The new insurance dataset covers claims, coverage, premiums, and member engagement metrics. APRA will update its expenditure review findings soon.