In Australia, it is a mix. Most people should have a self-funded retirement as a result of mandatory superannuation during their working life. Those who haven't

In Australia, it is a mix. Most people should have a self-funded retirement as a result of mandatory superannuation during their working life. Those who haven't accrued enough can fall back on the aged pension, but this should become less and less common (mandatory super was only introduced in the 90s).