According to the latest Pensions Index published by the Mercer Institute CFA, the Netherlands once again holds the title of best pension system in the world, second place was last year’s first place Iceland, and third place went to Denmark. In addition to the countries that took the podium, Israel was the country that received an “A” rating in the Mercer Institute’s CFA Global Pensions Index, which scores systems based on adequacy, sustainability and integrity.
The report also covers the challenges facing pension systems in most countries
- population aging,
- Increasing the national debt
- It is also threatened by high inflation rates.
David Knox, senior partner at Mercer and lead author of the report, spoke in an interview about the need for people around the world to start taking care of themselves after retirement.
We can no longer rely solely on Social Security or government pensions.
Out of 47 countries examined Argentina finished the worstWhile the United States ranks 22nd, down two places from last year. Australia ranked fifth, the United Kingdom ranked 10th, Japan ranked 30th, and China ranked 35th (Hungary was not examined in the study).
According to the report Low birth rates are putting pressure on many economies and pension systems in the long termThis negatively affects the sustainability scores of countries such as Italy and Spain.
Cover image source: Getty Images
