Global Pension Systems Rankings 2021: results announced


The Mercer CFA Institute Global Pension Index 2021 benchmarks 43 retirement income systems around the world, highlighting strengths and weaknesses.  In 2021, new entrant Iceland is named as having the world’s best pension system overall. However, as the world continues to grapple with the  economic implications of the pandemic and its ongoing health crisis, the study also reveals factors causing the gender pension gap around the world. It’s critical that policymakers and governments reflect on the strengths and weaknesses of their systems to deliver better long-term outcomes for future retirees.

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Examining the strengths and weaknesses of pension systems with the purpose of delivering better retirement benefits to every individual has never been more urgent.
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Margaret Franklin, CFA, President and CEO at CFA Institute

Download the Global Pension Index 2021

Report cover, Mercer CFA Institute Global Pension Index 2021. Pension reform in challenging times. 

Global Pension Index 2021

Read the full report for all global rankings and analysis. Find out what makes a world-class system. 
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Report cover, Mercer CFA Institute Global Pension Index 2021. Highlights report. Pension reform in challenging times. 

Report Highlights

Short on time? The five page report summary will take you through the high level highlights and findings.
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Report cover, Gender differences in pension outcomes. 2021 Global Pension Index Special Chapter 

Gender Pension Gap Report  

Discover the gender differences in pension outcomes. A deep-dive worthy of investigation and understanding.
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Comprehensive pension systems analysis


The Mercer CFA Institute Global Pension Index uses three sub-indices – adequacy, sustainability and integrity – to measure each retirement income system against more than 50 indicators. The Index is published by Mercer, in collaboration with CFA Institute and the Monash Centre for Financial Studies.


What do you get? 

#1 Iceland (82.7)
#2 Netherlands (82.3)
#3 Norway (81.2)  


Can it keep delivering?

#1 Iceland (84.6)
#2 Denmark (83.5)
#3 Netherlands (81.6)   


Can it be trusted?

#1 Finland (93.1)
#2 Norway (90.2)
#3 Netherlands (87.9)  

An overview of retirement income systems included in the Global Pension Index 2021

Map of pension systems included in the index

Pension system (and overall index value): Argentina (41.5), Australia (75.0), Austria (53.0), Belgium (64.5), Brazil (54.7), Canada (69.8), Chile (67.0), China (55.1), Colombia (58.4), Denmark (82.0), Finland (73.3), France (60.5), Germany (67.9),  Hong Kong SAR (61.8), Iceland (84.2), India (43.3), Indonesia (50.4), Ireland (68.3), Israel (77.1), Italy (53.4), Japan (49.8), Korea (48.3), Malaysia (59.6), Mexico (49.0), Netherlands (83.5), New Zealand (67.4), Norway (75.2), Peru (55.0), Philippines (42.7), Poland (55.2), Saudi Arabia (58.1), Singapore (70.7), South Africa (53.6), Spain (58.6), Sweden (72.9), Switzerland (70.0), Taiwan (51.8), Thailand (40.6), Turkey (45.8), United Arab Emirates (59.6), United Kingdom (71.6), Uruguay (60.7), United States of America (61.4).

Download the Mercer CFA Institute Global Pension Index 2021 to find out the world’s best retirement income systems.