Iceland boasts the best retirement system in the world, followed by the Netherlands and Denmark, according to a study by American asset management firm Mercer and the CFA Institute, a global association of investment professionals.
The study evaluated pension systems in 43 countries around the world while taking into account not only management strategies but also actual payouts, Polish business newspaper Puls Biznesu reported.
Eleven countries dropped in the annual league table, with the biggest declines recorded by South Korea and India, two countries that struggled the most with the impact of the COVID-19 pandemic on their economies, according to Puls Biznesu.
Meanwhile, the biggest gainers, compared with the previous year, were Great Britain and China, which have carried out effective pension reforms over the past year and are now ranked 8th and 28th respectively, the Polish daily reported.
Poland maintained its position in the bottom part of the ranking, receiving a "C" grade, the paper said.
Thailand was the lowest-rated pension system, while Argentina was ranked next to last, behind the Philippines.
(di/gs)