SMSF members by balance

At 30 June 2013, the average SMSF member balance was $524,000 (see appendix 1, table 12), which was approximately 15 times the size of the average account balance of non-SMSF members’ of $36,000.Footnote27 The median SMSF member balance was $313,000.

Graph 9 shows that over the five years to 30 June 2013, average and median SMSF member account balances grew by 23% and 24% respectively. Following a marginal decrease in 2012, the average SMSF member balance in 2013 was the highest over the period.

Graph 9: Asset size, SMSF and SMSF member

 SMSF members by balance

The same trend applied to the opening member balances of SMSFs established in each of the five years to 2013 (see appendix 1, table 13).

Graph 10 shows the average and median opening member balance and assets for funds established over the period. The average opening member balance reported by funds established in 2013 was $187,000, an increase of 8% over the five years to 2013. The median opening member balance grew by 20% during the period to $99,000 in 2013.

On average, 52% of members had opening balances between $1 and $200,000, while 27% had a $0 balance in the year of establishment. The proportion of members with a $0 balance in an establishment year for the first time reached 30% for funds established in 2013.Footnote28

Graph 10: Asset size in establishment year, SMSF and SMSF member

 SMSF members by balance graph 10

Over the five years to 30 June 2013, the average member balance of male SMSF members exceeded that of female SMSF members by $140,000. In 2013, the average member balances were $444,000 and $585,000 for female and male members respectively. Female average member balance increased by 25% over the period, while male average member balance increased by 19%.28

Footnote 27

APRA 2013, Annual Superannuation Bulletin, APRA Statistics, 5 February 2014, p30

Return to footnote 27 referrer

Footnote 28

Based on 2009 to 2013 SAR lodged data.

Return to footnote 28 referrer

    Last modified: 15 Dec 2014QC 43403