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By ExpatBriefing.com Editorial
07 April, 2014
Australia, Sweden and New Zealand have the most sustainable pension systems in the world, according to a newly published study from German financial services company Allianz.
The Allianz Pension Sustainability Index (PSI) analyses countries according to a range of parameters to arrive at a ranking that reflects the long-term sustainability of a country's pension system.
In the latest edition of the index, Norway, the Netherlands and Denmark rank closely behind the top three. The pension systems of Thailand, Brazil and Japan are said to be the least sustainable.
Renate Finke, author of the study, points out: "A good ranking in the index does not equal to generous pension payments in a country, but it shows that a country's pension system will be able to cope with its underlying demographics. In contrast to that you have to take into account that the countries at the low end of the ranking are there for different reasons."
Allianz said that Thailand's low ranking on the index is due to a number of factors, including an extremely low retirement age, only sporadic coverage, and a rapidly aging population. By contrast, Australia's two-tier system combining a lean public with highly developed funded pensions is under the least pressure to reform.
Ireland, Luxembourg, Romania, Singapore, Turkey, the United States, and Greece all advanced more than five places upwards since the last PSI in 2011. On the other hand, the rankings of Croatia, France, Hong Kong, Malta, Slovenia, and Taiwan declined significantly.
Tags: Pensions | Denmark | Ireland | Malta | Netherlands | Slovenia | Financial Services | Retirement | Australia | Luxembourg | Norway | Romania | Singapore | Taiwan | Thailand | Brazil | France | Greece | Hong Kong | New Zealand | Sweden | United States | Croatia | Japan | Turkey | Services | Expats
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