Vaunted Private Pension Plan Faces Test From Wave of Retirees

A wave of aging baby boomers is a threat to economies the world over. Australia’s A$3.7 trillion ($2.4 trillion) so-called super funds have made its citizens some of the wealthiest retirement savers, and earned the system praise from policymakers and financiers abroad — including BlackRock’s Larry Fink and UK Chancellor Jeremy Hunt. It still isn’t enough.