Countries with Best and Worst Pension Systems (Infographic).

According to fresh data from the consulting company Mercer, the pension system of the Netherlands is one of the best in the world. Iceland, Denmark, and Israel also show good results. In the report, which evaluated 48 countries, it is noted that while leading pension systems work well, there are demographic challenges they face.

The increase in life expectancy, decrease in birth rate, and rising cost of healthcare threaten the state budgets supporting pension programs. This has led to an overall decline in the index scores this year.

One of the authors of the report, David Knox, explained that demographic changes require a more flexible approach to retirement rather than simply setting a certain age for cessation of work.

In the ranking, the USA took 29th place, the UK – 11th, Japan – 36th, China – 31st. The worst countries in the ranking were India, Argentina, and the Philippines.

Currently, there are 10.34 million pensioners in Ukraine, but only 12.7% of them receive a pension over 10,000 UAH. Meanwhile, more than 2.8 million Ukrainians continue to work after retirement. The average payment for working pensioners is about 6,257 UAH, while the average pension in the country is 5,851 UAH or 141 USD.

In the Czech Republic, preparations are underway for a pension reform that will be deployed by 2035. These changes will also affect Ukrainians.