Want to Know More About Retirement Systems in Other Nations?
Source: Georgetown University’s Center for Retirement Initiatives
Resources on International Systems
The OECD Pensions at a Glance presents an excellent overview with “Country profiles” of national pension systems. As described by the OCED: “Each country profile summarizes the architecture of the national pension system and provides key indicators on demographics, public pensions spending and average worker earnings. It then goes on to provide the technical details of parameters and rules of the pension system in 2014 and explains the calculation of pension entitlements and benefits. Each profile ends with the main country-specific results.”
The Melbourne-Mercer Global Pension Index compares retirement income systems in 25 countries to better understand the diversity of current pension policies. The nature of the problems faced by these nations, which range from a growth in aging populations due to rising life expectancies, government debt and uncertain economic conditions, transcend their respective historical, social, and political differences. Consequently, the reforms necessary to address these challenges are similar, addressing issues such as changing pension ages, increasing labor force participation for older workers, and adjusting levels of funding for retirement. The Mercer Index measures each country’s retirement income system via a survey of over 50 questions, while studying the efficiency, sustainability, and transparency of each system.