Australia has more stashed away in superannuation assets than it produces in GDP.
APRA statistics this week valued Australia’s total pool of retirement savings at $1.8 trillion as of 31 December.
That’s significantly more than the $1.54 trillion that Australia is likely to report in GDP for the 2013 calendar year, based on RBA statistics and UBS growth estimates for the December quarter.
A Business Insider Australia analysis of data from APRA and the RBA shows that the nation’s superannuation assets first overtook GDP last March.
Australian retirement funds reportedly returned a median of 17.5% in the 12 months to December 2013: their best performance in 20 years.
Deloitte expects Australia’s superannuation asset pool to grow to $7.6 trillion by 2033, but has warned that even that won’t be enough to meet government goals and let most Australians retire comfortably.
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