Migration Watch: Mercer Global Pension Index 2009

[neddy]

Melbourne Mercer Global Pension Index 2009

The following table shows the overall index value for each country, together with the index value for each of the three sub-indices; namely adequacy, sustainability and integrity. Each index value represents a score between 0 and 100.

Rank/Country/Index
1 Netherlands 76.1
2 Australia 74.0
3 Sweden 73.5
4 Canada 73.2
5 UK 63.9
6 USA 59.8
7 Chile 59.6
8 Singapore 57.0
9 Germany 48.2
10 China 48.0
11 Japan 41.5
Average 61.4

 

[neddy]

Australia's super ranks among world's best
By Karina Barrymore | October 14, 2009 09:00pm

AUSTRALIA'S superannuation and retirement incomes system has been ranked second in the world in the first global survey of its kind.
Australia received 74 points out of 100, second only to The Netherlands, which got 76 points on the index.

Despite the high ranking, Australia's pension and super system failed to achieve an A-grade rating, with major improvements recommended such as:

INCREASE mandatory contributions.

ALLOW part of the final benefit to be taken as an income stream not all as a lump sum.

INCREASE the number of older workers in the labour force.

REVIEW pension age as life expectancy increases.

The index has been developed by wealth management company Mercer and the Melbourne Centre for Financial Services.

"With Australia's superannuation system currently under the spotlight of the Henry and Cooper Review, this index provides a timely reminder that while Australia's system has many good features there is still a lot that can be done to improve the adequacy," Mercer Worldwide partner David Knox said yesterday.

"The fact that no country achieved an A-grade classification confirms that no one system is perfect or currently robust enough to withstand the growing challenges of supporting an ageing population," Dr Knox said.

The index measured 40 factors and included private and government pension systems.

 

[Ash007]

Good to know, even beating the United Shits and CPF Sinkapore.

You came back from your holiday liao ah ?