Which Countries Have the Best Pension Systems in 2026?
Key Takeaways
- The Netherlands tops the 2026 pension rankings with a score of 85.8, while just six retirement systems earn an A grade.
- The United States ranks 33rd globally, trailing Chile (7th), Mexico (16th), and Canada (18th).
- Singapore leads Asia in fourth place, while Australia ranks sixth globally.
As populations age and people spend more years in retirement, pension systems face a growing challenge: providing financial security for retirees while remaining sustainable for future generations.
This visualization is based on the Marsh CFA Institute Global Pension Index 2026, which evaluated 55 retirement income systems worldwide.
Each system is assessed across three measures: adequacy (40%), sustainability (35%), and integrity (25%). Together, these indicators evaluate retirement benefits, long-term financial resilience, and the quality of pension governance.
Rather than comparing individual pension payments, the rankings assess the overall strength of each retirement system, including coverage, savings, sustainability, and governance.
Europe Claims Six of the Top 10
The Netherlands leads the world with 85.8 points, followed by Denmark at 84.1 and Iceland at 84.0. All three countries earn A grades, reflecting strong retirement benefits, financial sustainability, and governance.
Denmark leads the world in pension sustainability, while the Netherlands ranks among the top three in both adequacy and sustainability. Sweden, Finland, and Norway also appear in the top 10, highlighting the strong performance of Northern European retirement systems.
| Rank | Country | Retirement System Grade | Score (0-100) |
|---|---|---|---|
| 1 | 🇳🇱 Netherlands | A | 85.8 |
| 2 | 🇩🇰 Denmark | A | 84.1 |
| 3 | 🇮🇸 Iceland | A | 84.0 |
| 4 | 🇸🇬 Singapore | A | 82.0 |
| 5 | 🇮🇱 Israel | A | 81.9 |
| 6 | 🇦🇺 Australia | A | 80.6 |
| 7 | 🇨🇱 Chile | B+ | 79.2 |
| 8 | 🇸🇪 Sweden | B+ | 78.8 |
| 9 | 🇫🇮 Finland | B+ | 77.6 |
| 10 | 🇳🇴 Norway | B+ | 77.0 |
| 11 | 🇨🇭 Switzerland | B | 73.6 |
| 12 | 🇸🇦 Saudi Arabia | B | 73.2 |
| 13 | 🇰🇼 Kuwait | B | 72.9 |
| 14 | 🇬🇧 United Kingdom | B | 71.6 |
| 15 | 🇳🇿 New Zealand | B | 71.4 |
| 16 | 🇲🇽 Mexico | B | 71.2 |
| 17 | 🇭🇰 Hong Kong SAR | B | 71.2 |
| 18 | 🇨🇦 Canada | B | 70.6 |
| 19 | 🇫🇷 France | B | 70.3 |
| 20 | 🇦🇪 United Arab Emirates | B | 70.0 |
| 21 | 🇴🇲 Oman | B | 69.9 |
| 22 | 🇺🇾 Uruguay | B | 69.7 |
| 23 | 🇮🇪 Ireland | B | 69.7 |
| 24 | 🇧🇪 Belgium | B | 68.1 |
| 25 | 🇩🇪 Germany | B | 67.9 |
| 26 | 🇵🇹 Portugal | B | 67.3 |
| 27 | 🇭🇷 Croatia | B | 66.1 |
| 28 | 🇶🇦 Qatar | B | 66.0 |
| 29 | 🇰🇿 Kazakhstan | C+ | 64.8 |
| 30 | 🇪🇸 Spain | C+ | 63.3 |
| 31 | 🇨🇴 Colombia | C+ | 63.3 |
| 32 | 🇵🇦 Panama | C+ | 62.0 |
| 33 | 🇺🇸 United States | C+ | 61.6 |
| 34 | 🇩🇴 Dominican Republic | C+ | 61.4 |
| 35 | 🇲🇾 Malaysia | C+ | 61.1 |
| 36 | 🇨🇳 China | C+ | 60.6 |
| 37 | 🇹🇼 Taiwan | C | 59.7 |
| 38 | 🇵🇱 Poland | C | 58.4 |
| 39 | 🇯🇵 Japan | C | 58.0 |
| 40 | 🇳🇦 Namibia | C | 57.5 |
| 41 | 🇮🇹 Italy | C | 57.4 |
| 42 | 🇧🇷 Brazil | C | 57.0 |
| 43 | 🇧🇼 Botswana | C | 57.0 |
| 44 | 🇦🇹 Austria | C | 56.9 |
| 45 | 🇰🇷 South Korea | C | 56.4 |
| 46 | 🇵🇪 Peru | C | 55.7 |
| 47 | 🇻🇳 Vietnam | C | 54.6 |
| 48 | 🇰🇪 Kenya | C | 53.1 |
| 49 | 🇹🇭 Thailand | C | 52.2 |
| 50 | 🇮🇩 Indonesia | C | 50.7 |
| 51 | 🇿🇦 South Africa | C | 50.4 |
| 52 | 🇵🇭 Philippines | D | 49.2 |
| 53 | 🇮🇳 India | D | 46.8 |
| 54 | 🇹🇷 Türkiye | D | 46.6 |
| 55 | 🇦🇷 Argentina | D | 43.7 |
Finland and Norway are particularly strong in integrity, which measures the quality of pension regulation, governance, and transparency. However, performance varies considerably across Europe: Italy ranks 41st with 57.4 points, while Türkiye places 54th with 46.6.
Asia and Oceania Join the A-Grade Group
Singapore ranks fourth globally with 82.0 points, followed by Israel in fifth at 81.9 and Australia in sixth at 80.6. All three earn A grades, joining the Netherlands, Denmark, and Iceland in the index’s highest category.
Singapore stands out for its strong governance, earning an integrity score of 90.4, among the highest in the index. Its retirement system relies heavily on mandatory savings through the Central Provident Fund, which helps workers build retirement assets throughout their careers.
Australia also entered the A-grade group in 2026. Its compulsory superannuation system requires employers to contribute toward workers’ retirement savings, helping them accumulate assets over their careers.
However, even highly ranked systems face challenges as longer life expectancies increase the number of years that retirement income must support.
The Americas Show a Wide Retirement Gap
Chile leads the Americas, ranking seventh globally with a score of 79.2. Its strong performance is supported by an integrity score of 88.2, reflecting the strength of its pension governance and regulatory framework.
The United States ranks 33rd globally, well behind Mexico (16th) and Canada (18th). Its score of 61.6 places it nearly 18 points below Chile.
The U.S. receives a C+ grade, held back by relatively weak sustainability (57.1) and integrity (60.2) scores. Its retirement system combines Social Security, employer-sponsored plans, and individual savings, making retirement outcomes heavily dependent on employment history and personal savings.
At the bottom of the global ranking, Argentina places 55th with 43.7 points.
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