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2017
the material in this report, the authors give no warranty in that regard and accept no liability for any loss or damage incurred through the use of,
MELBOURNE
MERCER
GLOBAL
PENSION
2017
REPORT
INDEX
HIGHLIGHTS
indicators
including
`` Savings `` Contributions
`` Protection
`` Tax support `` Demography
`` Communication
`` Home ownership `` Government debt
`` Costs
`` Growth assets `` Economic growth
sub-index
40% 35% 25%
MELBOURNE MERCER
GLOBAL PENSION INDEX
2017 RESULTS
Overall Adequacy Sustainability Integrity
#
1 Denmark
#
1 France
#
1 Denmark
#
1 Finland
100
90
78.9 78.8 77.1
80 74.7 72.3 72.0
69.4 67.6 67.4 67.3 66.8
70 65.8 63.5
61.7 61.4 59.6
57.8 57.7 55.1
60 54.8 53.1
50.8 49.9 48.9
47.1 46.5 45.1 44.9
50 43.5
38.8
40
New Zealand
Netherlands
South Africa
Switzerland
30
Singapore
Argentina
Indonesia
Colombia
Denmark
Germany
Malaysia
Australia
Sweden
Norway
Canada
Finland
Mexico
20
Austria
Ireland
Poland
France
China
Korea
Japan
Brazil
Chile
India
Italy
10
UK
US
CHILE INDIA
INDONESIA
BRAZIL MALAYSIA
SINGAPORE
ARGENTINA SOUTH AFRICA
AUSTRALIA
NEW ZEALAND
Denmark
B+ 7580 Netherlands
Australia
A system that has a sound structure, with many good features,
but has some areas for improvement that differentiates it from
Norway New Zealand
an A-grade system.
Finland Chile
B 6575 Sweden Canada
Singapore Ireland
Switzerland
Germany
C+ 6065 Colombia
UK A system that has some good features, but also has major risks
and/or shortcomings that should be addressed. Without these
France Brazil improvements, its efficacy and/or long-term sustainability can
US Austria be questioned.
C 5060 Malaysia Italy
Poland
Indonesia Mexico A system that has some desirable features, but also has major
South Africa India weaknesses and/or omissions that need to be addressed.
D 3550
Korea Japan Without these improvements, its efficacy and sustainability are
China Argentina in doubt.
Gradually increase the average retirement age as life expectancies continue to rise
Increase the level of savings, both inside and outside pension funds, to ensure that more people are less reliant on the
government in their future retirement years
Increase the coverage of private pensions across the labour force, including the self-employed and gig employees, to provide
improved integration between various pillars
Reduce the access of benefits by members before retirement to ensure that the funds are preserved until retirement
Improve the transparency of the operations of pension plans thereby improving the understanding and trust of all stakeholders
A minimum pension is provided to At least 70% of the working age A strong prudential regulator
the poor that represents a reasonable population should be members of supervising private pension plans
percentage of average earnings in the private pension plans
community
65%
At least 65% net (after tax) Current pension fund assets should Regular member communications
replacement rate at retirement for a full- be more than 100% of GDP to fund including the provision of personal
time worker on a median income future pension liabilities statements, projected retirement income
and an annual report
60%
At least 60% of accumulated Labour force participation rate for those Clear funding requirements for both
retirement benefits to be taken as an aged 55-64 should be at least 70% defined benefit and defined contribution
income stream schemes
The MMGPI looks objectively at both the publicly funded and private components of a system as well as personal assets and savings
outside the pension system. It is published by the Australian Centre for Financial Studies in conjunction with Mercer and is funded
primarily by the State Government of Victoria.
www.globalpensionindex.com www.mercer.com.au/globalpensionindex