News – Employer Payments Decline While Personal Payments to Super Rise

Employer Payments Decline While Personal Payments to Super Rise

Employer Payments Decline While Personal Payments to Super Rise

Some interesting news about employer (concessional) verses personal (voluntary) payments (contributions) to super accounts. On  31 May 2013, Kate Kachor reported at Financial Observer that – Strong equity markets and positive news on superannuation fund returns were behind a record 22.5 per cent annual jump in voluntary contributions in the March quarter, an industry report said yesterday. The increase is the highest recorded by the sector since September 2007, according to the Financial Services Council’s ‘Bond Report’. The report showed discretionary contributions for the March quarter 2013 were $3.8 billion, an increase of $690 million on the March quarter 2012.” Click to READ MORE.

And concern for the drop in employer payments was reported by Chris Kennedy in Investor Daily – “The Financial Services Council has welcomed recent APRA data showing higher voluntary contributions, but said another slight decline in employer contributions is concerning. The voluntary member contributions figure of $3.8 billion accounted for almost one fifth of total contributions. It also represented a $690 million or 22 per cent increase in voluntary flows compared to the March 2012 quarter, FSC chief economist James Bond wrote in his Bond Report. ‘The very strong growth in discretionary contributions off the back of good growth in December indicates a strong consumer response to the strong growth in equities markets and positive reports of returns to superannuation funds,’ Mr Bond said.” Click here to READ MORE

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