The Netherlands has topped the 2023 Mercer CFA Institute Global Pension Index Survey (MCGPI), while Iceland and Denmark are in second and third place respectively.
International
India's retirement system has seen some improvement compared to 2022, according to the 2023 Mercer CFA Institute Global Pension Index Survey (MCGPI). Netherlands has topped the list, while Iceland and Denmark have taken the second and third positions respectively. The survey shows that India's overall index value increased from 44.5 in 2022 to 45.9 in 2023, ranking it 45th out of the 47 retirement income systems analyzed. This improvement is mainly due to an increase in the adequacy and sustainability sub-indices. India's retirement income system consists of an earnings-related employee pension scheme, a defined contribution (DC) Employee Provident Fund (EPFO), and mainly DC-based supplementary employer-managed pension schemes. The government initiative has been launched as part of a universal social security program aimed at benefiting the unorganized sector.
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