The Australian government has indicated it is likely to act on most, if not all, the recommendations of an 18-month inquiry into Australia's superannuation system.
A 500 page report was issued last week.
Radio New Zealand's Sydney correspondent says the national pension pool has grown to $A1 trillion since compulsory super began in 1992.
However, the inquiry headed by former regulator Jeremy Cooper has found the system is complex, expensive and tends to serve the interests of the industry rather than members.
With 80% of people not bothering to exercise choice in super, Cooper proposes a low-cost diversified product called MySuper.
This aims to boost super balances by cutting fees and dealing with the issue of people outliving their savings.