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News:India has improved it’s ranking in the Melbourne Mercer Global Pension Index.
Facts:
About Global Pension Index:
- The index is published by the Australian Centre for Financial Studies (ACFS) in collaboration with Mercer with most of the funding from the State Government of Victoria.
- The primary objective of this research is to benchmark each country’s retirement income system.
- It covers 37 countries, is based on how they fare on providing pension and retirement benefits to citizens across different income groups.
Key takeaways from the index:
- The overall index was topped by Netherlands followed by Denmark. While Thailand was ranked at the lowest position.
- India stood at 32nd position in 2019 out of 37 countries from the 33rd place in 2018 out of 34 countries in the list.
- India’s ranking increased largely due to the improvement in all three sub-indices of adequacy, sustainability and integrity.
- The index referred to India’s draft wages and social security reforms that have been initiated by the government which indicates the intent of the policymakers in creating an inclusive and sustainable pension system.
