Amy Bainbridge

(Bloomberg) -- Australians are sleepwalking into their retirement, according to new research. Most Read from Bloomberg

Some of Australia’s largest pension funds are boosting their exposure to global and domestic real estate, taking advantage of a broader investor pullback in the sector.

At A$4.4 trillion ($3.1 trillion), Australia’s pension system is the fourth-largest pool of retirement savings in the world — and the fastest-growing among major markets. It’s expected to overtake the UK and Canada by the early 2030s to become the second-largest globally.

Macquarie Group Ltd. is set for another tough shareholders’ meeting this week, with its board expected to face questions over a decision to hire scandal-hit auditor KPMG Australia, the company’s culture and its exposure to fossil fuels.

Shemara Wikramanayake is stepping down as head of Macquarie Group Ltd. after leading the Australian financial conglomerate to bumper profits and a record high share price. For that she will be richly rewarded, making her one of the best-paid female bank executives in the world.

Glencore Plc will launch a secondary listing in Australia as soon as October as the mining giant seeks to tap new investment in the nation’s fast-growing A$4.4 trillion ($3.1 trillion) pension system.

The Australian state of Victoria has postponed world-leading working from home laws less than a month before they were due to start, following fierce opposition from business groups and calls for more consultation.

Australia’s pension system is awash with forgotten money: A$312 billion ($220 billion) held in inactive accounts that continue to attract fees.

Australian state-owned investment manager QIC Ltd., which invested in Alphabet Inc.’s debut Aussie dollar bond, expects more Big Tech issuance Down Under but cautions the market probably has only room for “a couple” such mega deals a year.

Scandal-plagued KPMG Australia is cutting almost 400 jobs as it grapples with the fallout from allegations it misused confidential client information to win business and as demand for consulting services slows.