The UK has slipped out of the top 10 in a global report ranking pension systems, now placed 11th in the Mercer CFA Institute Global Pension Index 2024, highlighting concerns over retirement adequacy.
Countries in the 'B' category, like the UK, have sound pension structures with good features but still require improvements, as indicated by the report's findings on the impact of rising living costs.
The decline in the UK’s ranking reflects broader challenges in ensuring sufficient retirement savings amidst increased longevity and living expenses, emphasizing the need for reform within the pension system.
With the Netherlands retaining the top spot, followed by Iceland and Denmark, the report indicates a competitive landscape for global pension systems, urging countries to address their pension challenges.
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