Australia Pensions to See Ramp-Up in Mergers, Far Fewer Funds

Australia will have around half the number of pension funds by the end of this decade as regulation forces a ramp up in the speed of consolidation, according to a report from Mercer.

The nation’s pension system, known as superannuation, will have 47 funds by 2029, down from the 89 currently regulated by the Australian Prudential Regulation Authority, the study showed. That is expected to drop further to about 20 by 2049.