David Knox, senior partner at Mercer in Australia, is the man behind the consultancy’s flagship Melbourne Global Pensions Index, a project to study and compare pension systems around the world. Financial News asked him whether the UK's recent pension reform frenzy will improve its ranking.

Australia is commonly feted as having one of the world's most robust retirement savings systems, having saved up A$1.9 trillion - more than the country's GDP - in the 20 years since pension saving was made compulsory there.