At A$4.5 trillion ($3.2 trillion), Australia’s pension system is the fourth-largest pool of retirement savings in the world — and the fastest-growing among major markets. It’s expected to overtake the UK and Canada by the early 2030s to become the second-largest globally.
While the US has by far the largest retirement pool in dollar terms, Australia punches above its weight when assets are measured against the size of its economy. The sector now equals roughly 150% of Australia’s gross domestic product and is forecast to approach 250% by 2060. That scale makes it a powerful source of capital across the economy.