![Here are the best and worst retirement systems in the world [RANKING]](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E)
Iceland topped the Mercer CFA Institute’s global pension index released Tuesday, earning praise for its good governance and offering high benefits to retirees, including a generous state pension. Next come the Netherlands and Denmark, which have occupied the top positions in the ranking over the past decade.
This year, the situation for retirees in 11 countries, including India and South Korea, has worsened. The report states that the current economic environment, characterized by depressed wage growth, historically low interest rates and falling returns across many asset classes, is placing additional financial pressure on existing pension systems.
In the study of 43 countries, Thailand finished last, followed by Argentina and the Philippines. Analysts point out that these countries’ pension systems have “serious weaknesses and/or omissions that need to be corrected.”
According to the report, the UK and China, ranked 9th and 28th respectively, saw the biggest improvements compared to last year thanks to significant pension reform. The United States, currently 19th, could improve its score if it increased the minimum pension for the poorest. Poland was ranked 27th in this ranking.
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