LONDON, May 6, 2021 /PRNewswire/ -- Smart, the retirement technology company behind one of the UK's largest master trust pension schemes, Smart Pension, has today launched the Future of Global Retirement^[1] report^[2]. The report, based on research conducted by YouGov for Smart, looks at how the retirement industry will develop in countries such as Australia, the United States and the United Kingdom in years to come, following the coronavirus pandemic.

Key findings from the report found that:

• more than half (55%) of Australians no longer see retirement as a one-off event, but as a gradual transition instead
• only 1 in 5 (22%) of Australians aged 55 and older feel like they understand their options at retirement

And further afield in other developed DC retirement markets:

• almost half (47%) of adults in the UK said they have never received retirement advice
• 56% of Americans see retirement as an event with several stages, rather than a one-off event

Commenting on the report, Michael Watkins, director of retirement proposition at Smart, said:

"With the global retirement market worth $47 trillion, we've looked at how savers have seen their retirement plans change due to the COVID-19 pandemic. Our report shows that innovation in retiretech will be vital to support the evolving needs of savers in three of the largest DC pensions markets in the world in an industry that has historically been slow to change."

Link to full report >> https://visit.smart.co/3elauHR^[3]

A Smart spokesperson is available for interview upon request. 

About Smart:

Smart is a global savings and investments technology platform provider operating in the UK, Ireland, the Middle East, the US and Australia. The Smart platform powers the award-winning UK master trust, Smart Pension Master Trust.

Legal & General Investment Management (LGIM), J.P. Morgan, Link Group, Natixis Investment Managers and Barclays are all strategic investors in Smart.

Visit https://www.smartretire.com.au/^[4]

References

1. ^{^} Future of Global Retirement (visit.smart.co)
2. ^{^}  report (visit.smart.co)
3. ^{^}  https://visit.smart.co/3elauHR (visit.smart.co)
4. ^{^} https://www.smartretire.com.au/ (www.smartretire.com.au)