The value of Australian superannuation funds rose by 9.4% in the 12 months ended 30 September 2025 to a record A$4.47 trillion (US$2.88 trillion), according to data from the Australian Prudential Regulation Authority (APRA).
APRA was releasing its Quarterly Superannuation Performance publication for the September 2025 quarter, which showed the sector had assets of $4.4665 trillion at 30 September compared with $4.131 trillion at 30 June 2025 and $4.0823 trillion at 30 June 2024.
The regulator said in a statement the increase in assets in the year ended 30 June was driven by an 11.4% rise in APRA-regulated assets to $3.15 trillion, with the next largest category, self-managed superannuation (SMSF) assets, rising 4.8% to $1.073 billion.
Among the APRA-regulated assets, retail funds showed the most growth in assets in the September quarter, rising 4.2% to $883.7 billion, outpacing industry funds (3.6% to $1.62 billion), corporate funds (2.2% to $37.5 billion) and public sector (2.0% to $606.9 billion).
But over 12 months, industry funds outpaced the others with growth of 13.7% compared with retail (12.0%), public sector (7.4%) and corporate (-21.2%).
Total contributions increased by 12.7% to $215.6 billion in the year ending 30 September, of which employer contributions rose 8.8% to $153.2 billion and member contributions jumped 23.6% to $62.4 billion.
Benefit payments also increased by 12.7% to $136.2 billion, as lump sum payments rose 13.8% to $75.3 million and pension payments added 11.3% to $60.9 billion.
APRA also reported super funds generated a return of 10.1% in the 12 months to 30 September, down from 13.4% a year earlier, with a five-year annualised return of 8.3% (5.9%).
Industry funds made up 51% of the assets held by APRA-regulated funds at 30 June, with retail funds holding 28%, public sector funds 19% and corporate funds 1%.
