Australia Pensions to Hit $4 Trillion by 2030, Fewer Funds

Australia’s pensions industry will grow to A$5.7 trillion ($4 trillion) by the end of the decade as the number of funds declines because of mergers that will increasingly concentrate assets in the hands of fewer, bigger firms.

A study by Mercer showed the number of funds will decline to about 45 by 2030, from 75 currently, and that will drop further to about 30 by 2035. By 2050 there will be just 20 funds that control around A$15 trillion, the report released on Monday estimated.