Early super numbers surge

A total of $13.5 billion in super has been paid out since the scheme’s inception, with an average payment of $7,473.

Over the week to 31 May, super funds made payments to 177,00 members, bringing the total number of payments to 1.8 million since the scheme’s inception. The total value of payments during the week was $1.3 billion, down slightly from last week, where payouts totalled $1.6 billion.

Payments have taken an average of 3.3 business days to pay out, and 95 per cent have been made within five business days.