India has emerged as the second lowest among 34 countries providing retirement income systems with good benefits, according to a study.
The Melbourne Mercer Global Pension Index has revealed that the ageing population continued to pose challenges to the governments worldwide with policymakers struggling to balance the twin goals of delivering financial security for their retirees that is both adequate for the individual and sustainable for the economy.
Measuring 34 pension systems the index shows that the Netherlands and Denmark both offer A-Grade world class retirement income systems with good benefits –clearly demonstrating their preparedness for tomorrow’s ageing world.
India,the study said, has been taking slow but steady steps towards strengthening its retirement income system, however, the country finds itself as the second lowest among 34 countries under study.
The demographics and macro economic factors in India are diverse and pension systems have to be aligned to other programmes in the country, the study said.
source:FINANCIAL EXPRESS, NEW DELHI, TUESDAY OCTOBER 23,2018