However, India showed maximum improvement in global pension and its index increased since last year from 40.3 to 43.4 mainly due to the National Pension System and Atal Pension Yojana. India has been ranked at a low 25 among 27 pension systems globally while Denmark maintained the top position for the fifth year, says a survey. According to Melbourne Mercer Global Pension Index (MMGPI) 2016, India showed maximum improvement in global pension and its index value has improved to 43.4 in 2016 from 40.3 in 2015. "Additionally, UAN (universal account number) has eased transfer and traceability of transfer of provident fund under statutory pension plan," Lobo said. MMGPI is comparison of global pension systems, and this year, it covered close to 60% of the world's population, measuring 27 systems against more than 40 indicators to gauge their adequacy, sustainability and integrity.

Source: dna November 17, 2016 11:41 UTC