Melbourne ‘leads’ in pension management
The sixth annual Melbourne Mercer Global Pension index, released internationally, has confirmed Melbourne’s global role as a leading hub for retirement pensions.
Victorian Innovation Minister Louise Asher welcomes the release in London of the sixth annual Melbourne Mercer Global Pension Index, which rated Australia’s retirement pension system as the second best in the world, behind only Denmark’s.
The Victorian government is the major sponsor of the Index, which is recognised internationally and covers more than 60% of the world’s population.
“The Victorian Government is delighted by the results which confirm Melbourne's global role as a leading hub for retirement pension management,” Minister Asher says.
Australia’s pension system, which is centered in Melbourne, is the only system to have improved its ranking from last year, when it was rated third.
“With the third largest pool of managed funds globally, valued at over $1.9 trillion, Australia has now seen the highest 10 year growth rate of any established pension system,” Minister Asher says.
“This growth is off the back of a well regulated system coupled with a strong domestic funds management industry and leading global research capabilities. This sector is set to grow larger in the years to come, with a projected $6 trillion worth of assets forecast in 2030.
“This will mean increased opportunities for international fund managers seeking to leverage this growth by establishing a physical presence in Victoria.”
The London launch of the Melbourne Mercer Global Pension Index was co-officiated by the United Kingdom Minister for State Pensions, Steve Webb, highlighting the high international regard in which it is held.
Home to the major industry private pension funds, asset consultants and leading commercial funds, Melbourne is headquarters to six of Australia’s top 12 pension funds, as well as the $100 billion Future Fund.
Download the 2014 Melbourne Mercer Global Pension Index.
