By 2023, SMSF retirement phase assets are projected to account for $562 billion of Australia’s $914 billion in retirement income assets, according to the DEXX&R Market Projections Report.
As at June 2013, $296 billion of Australia’s total $506 billion held in SMSFs is in the retirement phase, according to DEXX&R.
This expected asset growth will increase the demand for fixed income investments which protect against inflation, DEXX&R stated.
The research also found that the total financial services market is projected to grow at an average annual rate of 7.5 per cent to $3,475 billion in the next 10 years.
The total superannuation market, excluding assets held in SMSF retirement income, is also expected to grow at an average rate of 8 per cent to $2,763 billion by June 2023.