Canadian one hundred dollar banknotesCanada’s pension system received an improved score in a global annual ranking by Mercer and the CFA Institute, but slipped a notch to 13th spot. The list, released Tuesday, was topped by Iceland, which had an overall index value 84.7, closely followed by the Netherlands at 84.6 and Denmark at 82. Canada maintained its B-level rating in the 2022 Mercer CFA Institute Global Pension Index with an overall score of 70.6, up from 69.8 in 2021. Thailand had the lowest index value in the 2022 ranking, at 41.7. The latest report warned that inflation and rising interest rates are challenging retirees, particularly as employers continue to shift from offering defined-benefit (DB) pension plans to defined-contribution (DC) pension plans.

Source: National Post October 11, 2022 18:52 UTC