Mercer CFA Institute Global Pension Index 2024

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class="spotlight-hero__theme-text"> THEME: CAPITAL MARKETS </span> </div>  <span class="spotlight-hero__meta spotlight-max-width-item items--piped"> <span class="items__item">15 October 2024</span> <span class="items__item">Article</span> </span> <h1 class="spotlight-hero__title spotlight-max-width-item"> Mercer CFA Institute Global Pension Index 2024 </h1> </div> </div> </div> </section> <section class="article-grid">  <section class="grid__item--full-width grid__item--inset grid__item--initial">  <div class="grid__container grid__container--normal-column-gap">  <article class="grid__item--article-body"> <section class="authors__container grid__item--article-element theme--insights"> <ol class="authors__list"> <li class="authors__item"> Mercer</li> <li class="authors__item">CFA Institute</li> </ol> </section>  <section class="share"> Share this: <ol class="inline-list"> <li class="share__item" title="Share on Facebook"> <a 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</a> </li> </ol> </section>   <section class="overview grid__item--article-element"> <span class="overview__content"> The rise of defined contribution (DC) pensions is shifting greater financial responsibility to individuals. This report rates global pension systems, recommending reforms to improve outcomes and participant trust in an era of aging populations. </span> </section>    <section class="grid__item--article-element"> <a class="content-asset content-asset--primary" href="/-/media/documents/article/industry-research/mercer-global-pension-index-2024.pdf" > <span class="content-asset__type icon icon--asset-pdf "></span> <span class="content-asset__title"> <span class="content-asset__emphasis">Mercer CFA Institute Global Pension Index 2024</span> View PDF </span> </a> </section>        <section class="grid__item--article-body-float-right call-out theme--insights"> <a class="call-out__link" href="https://global.cfainstituteevents.org/47oNQd?RefId=RPC+Promotions" target="_blank"> <div class="call-out__title"> </div> <div class="call-out__media"> <img class="media__ratio--wide media__fit--cover" src="/-/media/images/hero/derivative-content-modules/bloomberg-webinar-image.png?w=636&hash=855B66BFF092D9FE80BEB5A2407B7989" alt="Bloomberg Webinar image"> </div> <div class="call-out__content"> <span class="call-out__cta"> Navigating Post-Election Equities: Smart Strategies for Investors </span> <p class="call-out__description"> Join CFA Institute and Bloomberg experts Marko Papic, Nathan Dean and Alex Roever as they share strategic insights on managing portfolios in the post-election period </p> </div> </a> </section>   <section class="grid__item--article-element"> <h2 class="article__title">Report Overview</h2>  <div class="article__paragraph"> <p>Providing financial security in retirement is increasingly difficult as global populations age and pension systems evolve. For the first time, people aged 65 and older outnumber children under five. By 2080 they will outnumber people under 18. Many countries are shifting from traditional defined benefit (DB) pension plans—where employers assume the risk—to defined contribution (DC) plans, which place financial responsibility on individuals. These shifts are creating economic, social, and financial strains that require changes in pension systems worldwide to ensure their efficacy.</p> <p>Retirees face risks such as inflation, investment losses, and outliving savings, but many lack the financial literacy to manage these risks. Policymakers, governments, and the pension industry must collaborate to help older populations maintain a dignified standard of living. Pension reforms are a critical component in achieving that goal. </p> <p>The primary objective of the<em> Mercer CFA Institute Global Pension Index 2024 </em>is to benchmark retirement income systems worldwide using more than 50 indicators.</p> <p>Comparing pension systems globally is valuable for policymakers but not simple. Systems vary based on unique cultural, economic, and historical contexts. With the inclusion of Vietnam this year, the report now includes 48 retirement income systems, representing 65% of the world’s population. It compares those systems across three key factors: adequacy (current benefits), sustainability (future viability), and integrity (regulation). </p> <p>The research highlights significant diversity between systems around the world, with index scores ranging from 44.0 to 84.8. The Netherlands, Iceland, Denmark, and Israel rank highest, with the Netherlands leading, despite undergoing reforms. These nations offer strong benefits, sound regulation, and solid asset bases. India ranks lowest. </p> <p>Although each system reflects a unique history, there have emerged some common themes for improvement because many systems face similar problems in the decades ahead. The report outlines a range of reforms that can be implemented to improve retirement income systems’ long-term outcomes. They include:</p> <ul> <li> Expanding pension coverage to nonstandard workers and the self-employed through compulsory or automatic enrollment. </li> <li> Raising pension and retirement ages to match longer life expectancy, reducing public pension costs. </li> <li> Encouraging workforce participation at older ages to increase savings and reduce retirement length. </li> <li> Promoting greater private saving to reduce dependence on public pensions. </li> <li> Closing gender and minority pension gaps. </li> <li> Limiting pre-retirement withdrawals to preserve savings. </li> <li> Improving pension plan governance and transparency to boost the confidence of plan members participants.</li> </ul> <p>In summary, pension systems are under strain, and the shift from DB to DC plans presents challenges for retirees. This report calls for reforms to ensure pension systems remain adequate, sustainable, and trustworthy to support financial security for aging populations.</p> <p>CFA Institute is proud to sponsor the Mercer CFA Institute Global Pension Index in partnership with Mercer and the Monash Centre for Financial Studies. CFA Institute aims to lead the global investment profession by promoting the highest standards of ethics and education for the benefit of society, with pension systems playing a crucial role in that mission.</p> </div>  </section>   <section class="grid__item--article-element article-meta__container pl-credit"> <div class="pl-credit__group"> <span class="pl-credit__header">CFA Members Earn</span> <span class="pl-credit__value">3.25PL</span> </div> <div class="pl-credit__group"> <a id="linkRecordPL" class="pl-credit__record" href="#" onclick="window.location.href='/Account/Login?returnUrl=%2FAccount%2FRecordPL%3FitemId%3Dec8a5f2c-0de8-43cf-8d97-43b05b27e12d%26pageUrl%3Dhttps%253A%252F%252Frpc.cfainstitute.org%252Fen%252Fresearch%252Freports%252F2024%252Fmercer-cfa-institute-global-pension-index-2024'">Record PL credit</a> <a class="pl-credit__manage" href="https://cpd.cfainstitute.org/continuing-education/summary">Manage your Professional Learning credits</a> </div> <input type="hidden" id="hdnRecordPLUrl" value="/Account/RecordPL" /> <p id="spanRecordPLMsgError" style="display:none"> <span class="ce-error"></span> </p> <p id="spanRecordPLMsgSuccess" style="display:none"> <span class="ce-success"></span> </p> </section>   <section class="article-meta__container items grid__item--article-element"> <span class="article-meta__header">Publisher Information</span> <div> <span class="items__item">Mercer and CFA Institute</span> </div> </section>  </article> </div> </section> </section> </main>    <footer class="footer"> <div class="footer__preroll"> <div class="footer__preroll-container"> <div class="footer__about"> <h2 class="footer__about-header h3"> About the Research and Policy Center (RPC) </h2> <p class="footer__about-text"> CFA Institute Research and Policy Center is transforming research insights into actions that strengthen markets, advance ethics, and improve investor outcomes for the ultimate benefit of society. </p> <a class="footer__about-cta button" role="button" href="/en/about" > Learn more about the RPC </a> </div> <div class="footer__latest"> <img class="footer__latest-background" srcset="/-/media/images/cta-background/aerial-skyscrapers.jpg?w=720&hash=5FAB353B5F96BEA739BAF4E906BD906F 720w" sizes="100% 720px" alt="aerial skyscrapers view" /> <h2 class="footer__latest-header h3"> Stay informed on the latest from the RPC </h2> <p class="footer__latest-text"> Sign up to get the latest updates from the RPC right to your inbox </p> <a class="footer__latest-cta button" role="button" href="/en/subscribe" > Subscribe here </a> </div> </div> </div> <div class="footer__top"> <div class="footer__logo cfa-font-weight-bold"> <span class="footer__logo-img"></span> </div> <div class="footer__social-links"> <ul> <li> <a href="http://linkedin.com/showcase/research-and-policy-center" rel="noopener noreferrer" title="Linkedin Page" target="_blank" > <span class="footer__social-icon icon icon--social-li"></span> <span class="sr-only">CFA Institute on LinkedIn</span> </a> </li> <li> <a href="http://www.facebook.com/CFAInstitute" rel="noopener noreferrer" title="Facebook Page" target="_blank" > <span class="footer__social-icon icon icon--social-fb"></span> <span class="sr-only">CFA Institute on Facebook</span> </a> </li> <li> <a href="https://twitter.com/cfainstitute" rel="noopener noreferrer" title="Twitter Page" target="_blank" > <span class="footer__social-icon icon icon--social-twitter"></span> <span class="sr-only">CFA Institute on Twitter</span> </a> </li> <li> <a href="http://e.weibo.com/cfainst" rel="noopener noreferrer" title="Weibo Page" target="_blank" > <span class="footer__social-icon icon icon--social-weibo"></span> <span class="sr-only">CFA Institute on Weibo</span> </a> </li> <li> <a href="/en/ICE-Feeds/RPC-Publications-Feed" rel="noopener noreferrer" title="CFA Institute Research and Policy Center RSS" target="_blank" > <span class="footer__social-icon icon icon--social-rss"></span> <span class="sr-only">Research and Policy Center RSS</span> </a> </li> </ul> </div> </div> <div class="footer__bottom"> <div class="footer__links"> <ul> <li> <a href="https://www.cfainstitute.org/" >CFA Institute</a> </li> <li> <a href="https://profile.cfainstitute.org/ContactUs" target="_blank" rel="noopener noreferrer" >Contact Us</a> </li> <li> <a href="https://www.cfainstitute.org/utility/accessibility" >Accessibility</a> </li> <li> <a href="https://www.cfainstitute.org/about/governance/policies/privacy-policy" title="Privacy Policy" >Privacy Policy</a> </li> <li> <a href="https://www.cfainstitute.org/about/governance/policies/terms-conditions" title="Terms and Conditions" >Terms & Conditions</a> </li> <li> <a href="/en/utility/sitemap" title="Sitemap" >Sitemap</a> </li> </ul> </div> <div class="footer__copyright"> © 2024 CFA Institute Research and Policy Center. 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