The Melbourne Mercer international Pension Index 2019 edition has been revealed, and also the USA has been given a rank of C+ during this comparison of pension systems of 37 wealthy and middle-income countries, with a score of 60.6, slightly higher than the average of 59.3. additionally within the C+ class were the United Kingdom and France; among the C countries were Spain, European country and Italy; B countries enclosed Canada, Ireland, and Deutschland.
Which countries were at the highest of the rankings?
Why European country and Denmark, of course.
Regular readers can recall that I profiled Denmark’s retirement system back in Sept, in “Bernie Sanders needs A Scandinavian-Model social insurance System. Sure, Why Not? (For Retirement Anyway).” It’s a three-part system, with a flat “basic retirement income” profit for all residents and prorated for brief residency within the country, a modest statutory flat-contribution profit (literally flat contributions – everybody pays a similar quantity – not just A level share of income), and high prevalence (90%) of leader provision of outlined Contribution retirement savings accounts, that shield arrange participants from investment risk not by means that of employers providing guarantees however through conservative investments.
The system is far a similar within the Netherlands: a basic retirement check prorated for residency (see “Let’s speak ‘Basic Retirement Income’ social insurance Reform: What wouldn’t It Look Like?”) combined with widespread prevalence of leader retirement check provision, historically within the sort of ancient outlined profit plans sponsored by individual employers or industry-wide however currently additional usually through outlined contribution or “collective outlined contribution.