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Canada earns 12th spot in Mercer's global pension system rankings of 47 countries

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November 08, 2023

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Canada received a “B” score in Mercer’s 2023 Global Pension Index. The report placed Canada 12th among the 47 countries assessed.

The rankings are based on three primary criteria: adequacy (including benefits, savings and government support), sustainability (including pension coverage, economic growth and government debt), and integrity (including regulation, governance and protection).

According to the report, Canada could improve its score by doing the following:

  • Lowering government debt as a GDP percentage
  • Bringing forth a minimum access age for all pension products
  • Increasing household savings while reducing debt
  • Expanding occupational pension coverage with an appealing product for those without employer plans

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