As a consequence of aging populations in virtually every country worldwide and increasing government debt in many of them, retirement income systems are coming under greater scrutiny. The 2011 Melbourne Mercer Global Pension Index examines and compares retirement systems in 16 countries representing more than half of the world’s population.
“Many of the challenges facing governments are similar, regardless of their social, political, economic or historic influences, and many potential reforms to address these challenges – such as increasing retirement saving levels, encouraging people to work longer and modifying benefit designs – are also similar” says Dr. David Knox, a senior partner in Mercer’s Retirement, Risk and Finance consulting business.
“Our report highlights shortcomings in each country’s system and suggests areas of reform that would provide more adequate retirement benefits, increased sustainability over the long term, and/or a greater trust in the private pension system,” he notes.
See the ratings for retirement systems around the world.
(Click image to enlarge)