BEST PENSIONS in THE WORLD 2020 – Which countries offer the best retirement income systems/pensions? In this video I use the research provided by Mercer CFA Institute Global Pension Index 2020 to countdown from 10 to 1 the countries that offer the most desirable outcomes based on three sub-indices adequacy, sustainability and integrity.
Related to this, please see my previous video on ‘UK STATE PENSION 2020 OVERVIEW – How much, when and will I qualify for UK STATE PENSION?’: –
Link to the Mercer CFA Institute Global Pension Index 2020:-
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In an era where people are living longer than ever before, planning for retirement has become increasingly important. With many retirees relying on their pensions as their primary source of income, the quality of a country’s pension system can have a significant impact on the well-being of its elderly population.
So, which countries offer the best pensions in the world in 2020?
According to the Melbourne Mercer Global Pension Index, which ranks the retirement income systems of 37 countries, the top 5 countries with the best pension systems are the Netherlands, Denmark, Finland, Sweden, and Australia. These countries are praised for their comprehensive retirement income systems that provide a combination of public and private benefits, a high degree of pension coverage, and strong regulation and governance.
The Netherlands, which topped the list in 2020, has consistently been praised for its sustainable and robust pension system. Its retirement income system is characterized by a strong and well-funded public pension, a mandatory occupational pension, and a voluntary private pension. The country also boasts a high level of pension coverage and a good level of adequacy and integrity in its pension system.
Denmark, a close second, is known for its well-structured and efficient pension system that provides substantial benefits to retirees. The country’s retirement income system is built on a combination of public and private pensions, with a high level of pension coverage and adequacy.
Finland, Sweden, and Australia also scored highly in the index, thanks to their well-designed pension systems that offer a high degree of income security for retirees. These countries have strong public pension schemes, robust private pension provisions, and a high level of pension coverage, ensuring that their aging populations are well-protected in retirement.
While these top-ranking countries have been commended for their exemplary pension systems, it’s important to note that there is no one-size-fits-all approach to retirement income. Each country’s pension system is shaped by its unique social, economic, and demographic factors, and what works in one country may not necessarily work in another.
In addition, the COVID-19 pandemic has brought about new challenges for pension systems around the world. The economic impact of the pandemic has pressured many governments to reassess their pension systems and find ways to ensure the long-term sustainability of their retirement income provisions.
Despite these challenges, the countries with the best pensions in the world continue to prioritize the well-being of their elderly population and invest in sustainable retirement income systems. As the global population continues to age, it is crucial for countries to learn from the best practices of these leading pension systems and work towards providing a secure and dignified retirement for all.
The UK flag is upside down!
Where did the usa as it is one of best in the world !
This is a disgrace uk seriously need to sort it out
Best are australia politicians and their spouses
This list is completely wrong, Portugal is number one followed by the UK!
In Australia , pensions can be subject Bail IN by the Government.
which countries have private pensions?
Hi I want to ask that in which countries private sector people gets pensions after their retirement and get there pensions per month until that person gets die and the government takes care about them from their retirement age to their death.
Yeah and you wonder why these countries are bankrupt
It's funny, there are so many Dutch people complaining about the pensions, but they are not aware how solid the system is due to the combination of state (pay-as-you-go DB, not earnings related, only related to number of years you have lived in The Netherlands) and occupational (funded DB or DC, earnings related) system. I think the greatest challenge in the Dutch pension system is communication. There is a huge transition upcoming, and I am very curious how the communication will be, since it will not be necessarily easier to understand.
i was told uk pension wont be around much longer
Israel & Belgium were added to the index only in 2020. Israel replaced Australia for #3. Nice job probably much due to Israel pension reform several years ago.
Clearly, the UK being the so called 5th or 6th largest economy in the world, has one of the stingiest attitudes towards it's old timers. Not surprised we are 15th, I retired a year ago, at 60 and feeling the pinch after paying into my company final sal scheme, but meanwhile the scheme was reorganised twice and then it was scrapped… Due to the massive multi billion £ utility company saying scheme was unsustainable. They wanted me to transfer into the new scheme and keep paying in forever, but I held tight and got out! Lovely being out of the rat race though. But can't draw state pension till I'm 66!
Shame that the union flag is displayed upside down!
Not sure about this-
I have a retired friend living in Australia (all his working life). He does not get a bean from the state, he relies on his own pension fund.
I live in the UK; retired, my wife and I can comfortably live off my state pension alone. Thanks to the triple lock, they keep shoveling more money at me. With both state pensions and private pensions (one a teacher's) we have an income about three times our cost of living. 15 might be the technical position, but it sure does not feel like it.
I see Norway got a B in that report, while Australia, the Netherlands and Denmark respectively earned B+ and As. That's fairly interesting. The report suggests that Norway should raise household savings and reduce household debt, as well as increasing mandatory contributions and implementing voluntary contributions with tax relief. I'll be honest, as a 19-year-old, I'm not very confident there will be a pension for me when I'm 67. Norway's system doesn't rank very highly in sustainability either.