Australia Pension Reforms Worth A$100,000 For Each Young Worker

WATCH: Jane Hume, Australia's minister for superannuation, discussed the government's planned reforms to the world's fourth-largest pension system. (Source: Bloomberg)

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By Matthew Burgess, Shery Ahn, and Paul Allen

February 9, 2021 at 3:02 AM UTC

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Shuttering failing Australian pension funds and stopping new accounts being opened when changing jobs will add almost A$100,000 ($77,160) to the retirement savings of young workers.