Britain has a pension problem. Despite having one of the biggest and most sophisticated financial centres of the world in London, the country’s pension industry does not fall into the same category.
The results can be seen in how its funds perform. In 2022, the return on the investments of UK pension funds was -25.4% in real terms, that is after adjusting for inflation. The comparable figure for Australia was -7.6%, and for Canada -8.9%.
