Mercer. The provision of financial security in retirement has never been more critical for both individuals and societies, as retirement income systems around the world continue to grapple with the social, economic and financial effects of ageing populations.

During 2020 and 2021, many of these issues were accentuated by the COVID-19 pandemic. But, it is not only ageing populations and the effects of the coronavirus that represent challenges for pension systems. The current economic environment with reduced wage growth, historically low interest rates and reduced investment returns in many asset classes, are placing additional financial pressures on existing retirement income systems.

This edition of the Index compares 43 retirement income systems, highlighting both the considerable diversity and the features (both positive and negative) present in many systems. Notwithstanding these highlights, the study also confirms that no pension system is perfect and that every system has some shortcomings.

  Mercer GP Index 21