Worried about retiring? Research suggests that nearly two thirds of Britons don’t feel confident about their retirement.
But which countries have the world’s best pension systems?
According to research from the team at Mercer, the Netherlands has the world’s best pension for its retired residents.
In 2014, the retirement age in the Netherlands was 67 but people may receive it earlier depending on when they were born.
Each year of working in the Netherlands earns people two percent of their state pension and they must have 50 years of contributions to receive the full pension.
The Dutch pension system has three pillars which are the state pension, pension funds and individual pension products.
The state pension provides basic payments of up to 70 percent of the minimum net wage, pension funds are connected to a person’s employer while individual pension products are generally used by the self-employed.
Mercer rated the pension highly for providing adequate money, sustainability for the future and integrity.
The UK scraped a place in the top 10 but landed behind Norway, Australia and Singapore.
Argentina had the worst pension system of the countries included in the study with the Philippines also rated poorly.
India, Turkey and Thailand rounded off the bottom five with their pension systems all given a ‘D’ rating.
Source: express.co.uk