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India needs strategic reforms to ensure adequate retirement income: Mercer study
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This year, India ranked 40th on the 2021 Mercer CFA Global Pension Index ranking out of 43 systems, which indicates India needs to undertake strategic reforms to revamp the pension system to ensure adequate retirement income.
The primary objective of this annual survey by Mercer Consulting is to benchmark each retirement income system using more than 50 indicators.
According to the survey, India had an overall index value of 43.3 among the countries analysed. The index highlights key strengths of retirement pension systems around three sub-indexes – adequacy, sustainability and integrity, where India scored 33.5, 41.8 and 61.0 respectively. The adequacy sub-index represents the adequacy of the benefits that are being provided, the
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