Benchmarking Retirement Income Systems Around the World: Which Countries Rank Highest and Why?

Abstract

The variety of retirement income systems around the world is great, with varying dependencies on public-sector pensions, funded private pensions, and savings outside these formal systems. But which are producing the best outcomes? And which are sustainable into the future, as many countries face the effects of a significantly aging population? The Melbourne Mercer Global Pension Index considers more than 40 indicators in calculating an index value for the systems in 16 countries covering more than half the world’s population. The index was first published in 2009, and the third edition was released in late 2011.

Keywords: Adequacy, Pension Fund, Pension Reform, Pension Systems, Pillars, Saving, Sustainability