Sweden has world's sixth best pension system
The Local/og - [email protected]
Published: 14 Oct, 2014 CET.
Updated: Tue 14 Oct 2014 08:37 CET
Sweden's pension system has been ranked as the sixth best in the world, according to a new study by consultancy firm Mercer.
The Melbourne Mercer Global Pension Index (MMGPI), released on Monday, explained that there were several measures Sweden could take to increase its overall index value. These include increasing the state pension age to reflect a growing life expectancy, encouraging and allowing employee contributions into employer sponsored plans, and improving (rather than removing) tax incentives for employee contributions, Mercer noted. Sweden scored a B, with 73.4 out of 100 points, which ranked the country on par with Finland, Switzerland, Canada, Chile, the UK, and Singapore. Australia and the Netherlands scored a B+, while Denmark topped the list with the only A. In Sweden a pension can be drawn from the age of 61, but there is no set age at which people must retire.
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The Melbourne Mercer Global Pension Index (MMGPI), released on Monday, explained that there were several measures Sweden could take to increase its overall index value.
These include increasing the state pension age to reflect a growing life expectancy, encouraging and allowing employee contributions into employer sponsored plans, and improving (rather than removing) tax incentives for employee contributions, Mercer noted.
Sweden scored a B, with 73.4 out of 100 points, which ranked the country on par with Finland, Switzerland, Canada, Chile, the UK, and Singapore.
Australia and the Netherlands scored a B+, while Denmark topped the list with the only A.
In Sweden a pension can be drawn from the age of 61, but there is no set age at which people must retire.
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