Norway climbs to 5th place on the list of the world’s best pension systems, but has a gender gap and pension of 27 percent, according to a global pension index.
Mercer CFA Institute Global Pension Index (MCGPI) places the newcomer Iceland at the top of the list and Norway in 5th place. The index compares 43 pension income systems, which cover thirds of the world’s population.
Iceland’s pension income system has been named the world’s best pension system for the first time at the 13th annual MCGPI. The Netherlands and Denmark are in second and third place respectively.
The main reason for Norway’s improvement from 71.2 points and 8th place in 2020 to 75.2 points and 5th place in 2021, is an increase in the expected net pension payment (calculated by the OECD).
– In 2021, significant changes were made to occupational pensions in the private sector with the introduction of a separate pension account linked to defined contribution pensions. This is a positive change, but it is unlikely that this will have a special effect in the short term and thus has affected the rise in the index already now, says consultant Tor Olsen in Mercer Marsh Benefits Norway.