No. 2009/03
10 December 2009
Super System Review releases a statistical summary of self-managed super funds
The Super System Review today released a statistical summary of self-managed super funds (SMSFs). The summary provides a broad factual overview of the SMSF sector, which is both the largest (by asset size) and fastest growing superannuation sector.
The summary provides information on topics including: SMSF member demographics, investment performance, operating expenses and compliance issues.
Super System Review Chair, Jeremy Cooper, said, "The SMSF statistical summary sheds light on a sector where reliable data can be hard to find. We think it will fill an information vacuum and clarify quite a few misconceptions about SMSFs."
Issues relating to SMSFs will be raised in the Phase Three: Structure (including SMSFs) - Issues Paper due for release on 14 December 2009.
Key statistics
As at 30 June 2008:
- 73 per cent of SMSFs had more than $200,000 in assets.
- The average SMSF member balance was $456,000 and the median balance was $288,000.
- Members aged 50 and above represented 67 per cent of total SMSF membership, while in other superannuation sectors only 22 per cent of members were aged 50 and above.
- The operating expense ratio for the average SMSF was 0.69 per cent, down from 0.86 per cent in 2006, a fall of nearly 20 per cent.
More information
More information on the Super System Review, including how to make a submission and get a copy of any papers, is available at www.supersystemreview.gov.au. Alternatively, call the Super System Review info line on 1800 425 139.
Media Contact
Sophie Trumble – Tel: 03 9280 3376