For retirement plan providers, there is much to be learned from a comparison between the UK and Australia—exploring what’s working and what could be working better in each market, and how successful practices in either market might be applied to help shore up the other. The UK-defined contribution pension and Australian superannuation markets face some common challenges. Both are dealing with aging populations, in which people are living longer and saving less. Both are confronting the question, what can be done to improve member outcomes? How can we drive stronger engagement among members in their own financial wellness?
This whitepaper analyzes the challenges and opportunities in both markets and uncovers what the UK and Australia retirement systems can learn from each other to help drive improvements.