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6mo ago

Global Pension Rankings Reveal US and UK Lagging Behind Top Systems

The US and UK pension systems face challenges as they drop in global rankings, with reforms needed to address adequacy and sustainability issues.

Retirement isn't just a financial decision -- it has implications for one's sense of self.
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Overview

  • The US pension system received a C+ grade, ranking 29th out of 48 countries, with concerns over adequacy, sustainability, and integrity.
  • The UK fell from 10th to 11th place in the global pension rankings, with a B grade, highlighting the need for structural reforms.
  • Chile surpassed the UK, moving up to 9th place, due to its near-universal social pension scheme and recent pension law reforms.
  • The Netherlands, Iceland, and Denmark retained the top spots, with robust systems featuring high coverage and strong regulations.
  • Experts suggest reforms such as expanding auto-enrollment, improving financial education, and addressing funding issues to strengthen the US and UK systems.