A new Mercer report rated Denmark as the country with the best retirement system for the fourth consecutive year in 2015, with an overall score of 81.7. The primary reasons for Denmark’s top spot is its well-funded pension system with its good coverage, high level of assets and contributions, the provision of adequate benefits and a private pension system with developed regulations.
Denmark and Netherlands are the only countries to achieve an ‘A’ grade in the history of the index. Singapore has been ranked the highest among Asian countries for a retirement system. The Indian retirement system continues to rank last, as per 2015 Melbourne Mercer Global Pension Index (MMGPI).
All of the 11 countries that have been part of the MMGPI since it began in 2009 have experienced an increase in the expected length of retirement from 2009 to 2015, with the average length rising from 16.6 years to 18.4 years.For the 16 countries that have been part of the MMGPI since the 2011 report, the average labour force participation rate for 55-64 year olds has increased from 57.9 per cent to 62.2 per cent between 2011 and 2015, or just over 1 per cent per year.