Show download pdf controls
  • Superannuation system



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention


    Superannuation system chapter


    Superannuation system detailed tables


    Taxation statistics - whole document


    The retirement income system includes:

    • a compulsory element of super, the superannuation guarantee - which requires employers to contribute a minimum level to their employees' super accounts
    • a voluntary level of super encouraged by tax concessions and the government's co-contribution scheme
    • the age pension and associated social security arrangements that provide an income safety net for retirees.

    The ATO plays a major role in administering the compulsory and voluntary elements of the super system. During the period covered by these statistics, the ATO has had responsibility for:

    • income tax on super funds (reported in Chapter 4)
    • the other income tax aspects of super
    • the superannuation guarantee
    • the superannuation holding accounts special account
    • the Lost Members Register
    • unclaimed super monies
    • departing Australia super payments
    • the regulation of self-managed super funds
    • the co-contributions system
    • excess contributions tax on individuals
    • the superannuation contributions surcharge
    • the termination payments surcharge
    • the temporary residents measure.

    An increasing number of Australians are directly affected by Australia's super system tax regime. By 30 June 2009, there were:

    • approximately 1.26 million registered employers
    • 415,252 super funds
    • $1.08 trillion in total assets held by super funds.

    As at 30 June 2008, approximately 92% of employees had some form of super and there were approximately 32.0 million member super accounts.

    During the 2007-08 financial year there were:

    • $49.8 billion in member contributions
    • $69.4 billion in employer contributions
    • $48.4 billion in member benefit payments.

    For information reported by super funds for the 2007-08 income year, see Chapter 4.


    During the 2008-09 financial year:

    • the number of self-managed super funds grew by 7.0% while the total value of assets held by these funds grew by an estimated 0.7%
    • there were 1,209,254 co-contribution entitlements determined and paid, totalling $1,090 million
    • the Lost Members Register continued to grow with the total value of lost accounts increasing by 5%, from $12.9 billion on 30 June 2008 to $13.6 billion on 30 June 2009.
      Last modified: 24 Mar 2010QC 22511