Pensions in a parallel universe

We hear much in the UK in these days of stakeholder fever about the various exotic pensions approaches taken around the world, particularly those in Chile and Australia. While these systems are interesting in themselves they seem to have no relevance to the realities of pensions in the UK. We have little in common, in pensions terms, with either Australia or Chile. America, in particular its strangely named 401(K) schemes, is where we should be looking if we want to see the future of UK, and probably European, pensions. The past decade or so has seen nothing short of a pensions revolution i...