Mercer CFA Institute Global Pension Index 2022 

An analysis and ranking of 44 pension systems around the world

The results are in: Iceland leads, but only by a margin

The Mercer CFA Institute Global Pension Index benchmarks 44 retirement income systems around the world, highlighting challenges and opportunities within each. This year we have added Portugal to the mix, as well as using updated data from OECD and the UN World Population Prospects 2022.

The index is made up of three sub-indices – adequacy, sustainability and integrity – to measure each retirement income system against more than 50 indicators. This year's feature chapter unpacks the challenging defined contribution (DC) equation of converting a DC lump sum into a good outcome for retirees. Download the reports to learn more about your pension system.

This year’s top rated pension systems

  • Iceland

    Index: 84.7

    Rating: A

    Ranking: #1

  • Netherlands

    Index: 84.6

    Rating: A

    Ranking: #2

  • Denmark

    Index: 82.0

    Rating: A

    Ranking: #3

Three pillars of our analysis and top three rated countries

  • Adequacy

    How much do you get?

    #1 Iceland

    #2 Portugal

    #3 Netherlands

  • Sustainability

    Can it keep delivering?

    #1 Iceland

    #2 Denmark

    #3 Netherlands 

  • Integrity

    Can it be trusted?

    #1 Finland

    #2 Norway

    #3 Netherlands

It is critical that we understand whether or not the retirement income systems around the world will be able to meet the needs and expectations of their communities for decades to come
 Dr. David Knox

Lead author, Actuary and Senior Partner, Mercer

How does your pension system rate?

    Feature chapter: Addressing a challenging DC equation

    Defined contribution pension plans are the centre of a lot of debate. This year’s special chapter looks at the challenges facing defined contribution systems: the issues facing individuals, what retirees want, what solutions are out there and the best mix to solve this.
    • Employers are stepping away from financial guarantees
    • Individuals bear the risks before and after retirement
    • Retirees receive a lump sum, not an income stream
    • Households are not equipped to make financial decisions at retirement
    • Governments considering reducing financial support during retirement

    Download 2022 reports

    Feature chapter:

    Solving a challenging DC equation
    Since the inception of the Mercer CFA Institute Global Pension Index, the investment management and pension industry at large have faced extraordinary challenges. New financial products and strategies will be required to deliver adequate returns for beneficiaries.
    Margaret Franklin

    CFA, President & CEO, CFA Institute

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