Finland ranks 3rd in global pension index

Finland ranked third in the retirement income system across the world, according to the Melbourne Mercer Global Pension Index published on Monday by the Monash Business School’s Australian Centre for Financial Studies (ACFS).

The Netherlands ranked top on the list of 34 countries, followed by Denmark, Finland, Australia, Sweden, Norway, Singapore, Chile, New Zealand, and Canada.

Argentina was at the bottom of the list, followed by India, Mexico, China, South Korea, and Japan.

In the last 10 years, the annual Melbourne Mercer Global Pension Index graded the pension systems of countries based on various criteria including adequacy of pensions, sustainability of pension systems and administrative integrity of the respective countries.

“The Index is a comprehensive review of global pension systems and is internationally regarded amongst global policy makers. Since its inception in 2009, the index has grown in scope and global reach, having expanded from an initial 11 systems to the current 34. The index now covers a broad cross-section of systems across the Americas, Europe, the Asia-Pacific and has been expanded this year to include Hong Kong, SAR, Peru, Saudi Arabia, and Spain,” said Australian Minister for Industry and Employment Ben Carroll on the report.

“To ensure the objectivity of our findings, an expert reference group oversees the development of the index and ensures it represents an independent and unbiased view,” said Australian Centre for Financial Studies Director Professor Deep Kapur.