Voluntary contributions to superannuation funds continued to fall over the six months to 31 December 2008 as a result of the financial crisis, but the levels of decline vary greatly between individual funds.
Superannuation and consultancy firm Chant West has seen evidence of large falls among the major industry super funds over the period, and said this trend was likely to extend to retail funds.
"Voluntary contributions have fallen dramatically," Chant West research manager Ian Fryer said.
"We have seen graphs where voluntary contributions have fallen 80 to 90 per cent."
According to the most recent statistics from prudential regulator the Australian Prudential Regulation Authority, member contributions to industry funds fell in the September quarter 2008 by 44.5 per cent to $453 million, compared to the $816 million in the same quarter of 2007.
Retail fund member contributions declined by 41.7 per cent over the same period, from $4.8 billion to $2.8 billion.
Association of Superannuation Funds of Australia chief executive Pauline Vamos said the extent of the current declines differed greatly from fund to fund.
"For some isolated funds, their level of voluntary contributions has dropped from 10 per cent up to 50 per cent," Vamos said.
"You've got other funds that have had no change whatsoever."
She said it was too early to tell whether the industry as a whole would experience a dramatic decrease in voluntary contributions over the full year, as most of the contributions had historically been made in June.
First State Super has so far experienced strong overall voluntary contributions.
"The level of member salary sacrifice contributions plus roll-ins from other funds continues at high levels," fund chief executive Michael Dwyer said.
But Dwyer admitted after-tax contributions over the first half of the financial year were lower than in the same period the year before.
"This may be a result of current investment markets," he said.
