Demographic transition forces the pace of pensions reform

Australia is enjoying the benefits of being an early adapter of auto-enrolment pensions, a form of which was introduced by legendary 1980s Labour prime minister Bob Hawke

People's retirement years have long been well funded in Australia, since a form of auto-enrolment was first championed in the 1980s by then Prime Minister Bob Hawke.

Governments in advanced economies are restructuring their pensions systems to meet the challenge posed by rapid ageing in society.

Reforms are in train, but is a race against time.