Melbourne Mercer Global Pension Index releases report

The 10th Annual Melbourne Mercer Global Pension Index (MMGPI) report has been released. The index compares retirement income systems across the globe.

MMGPI measured 34 pension systems against 40 indicators to gauge adequacy, sustainability and integrity. It is published by the Australian centre for Fin studies in collaboration with Mercer and Victoria state government.

Key takeaways from the study are:-

Ageing populations continue to pose a challenge to governments worldwide.

Policymakers are struggling to deliver financial security for retirees.

That is both adequate for the individual and sustainable for the economy

So which countries are the most prepared for tomorrow's ageing world?

Canada

Score: 68.0

New zealand

Score: 68.5

Chile

Score: 69.3

Singapore

Score: 70.4

Norway

Score: 71.5

Sweden

Score: 72.5

Australia

Score: 72.6

Finland

Score: 74.5

Denmark

Score: 80.2

Netherlands

Score: 80.3

Where does India stand?

India

Score: 44.6

While India stands at the second last position, the study did mention that India is taking slow and steady steps towards strengthening retirement income system.

Due to the diversity in India, pension systems need to be aligned to other programmes.