The Melbourne Mercer Global Pension Index compares retirement income systems in 20 countries representing more than 55% of the world’s population. The Index rates these systems based on their adequacy (accounts for 40% of the overall score), sustainability (35%), and integrity (25%). This comes at a time when pension systems worldwide are under increasing pressure due to rising life expectancy, increased governmental debt, uncertain economic conditions, and a global shift to defined contribution plans.
David Knox, a Mercer Senior Partner and author of the study says “Worldwide, many of the challenges relating to aging populations are similar, irrespective of each country’s social, political, historical, or economic influences,” he notes. “Many of the desirable policy reforms are also similar and relate to pension ages, retirement level funding, work longevity, and benefit design issues to reduce benefits leakage before retirement.”
In addition you can find a study done by Towers Watson Global-Pensions-Asset-Study-2013-Towers-Watson where you will fin a deeper analysis for 13 major pension markets around the world, which total USD 29,754 bn in pension assets and account for 78,3% of the GDF of these economies.
Thinking about… Why not a Global Pension?
In a globalized and hyper-connected world it doesn´t make sense to speak about local pension markets. The workforce is moving now more than ever in the history crossing borders without any problem.
Then, When will start to talk about a Global Pension? This is not the future, this is the present.