Portugal occupies the 22nd position in the Mercer and CFA Institute World Pensions Index , having the seventh lowest classification in the sustainability draw.
Despite this, the analysis awards the Portuguese pension system a grade of ‘B’ thanks to “a solid structure with several positive characteristics, but with areas that stand out for improvement.
”By TPN, in News, Portugal, Business · 15 Oct 2024, 15:03 · 0 CommentsThe index in question comparatively evaluates 48 pension systems around the world, giving the Netherlands the best rating, followed by Iceland and Denmark.
Portugal occupies 22nd place, with a global score of 66.
9 points.
The main improvements include “the need, on the one hand, for an increase in the value of pensions relating to private systems, implying an increase in the level of contributions and the amounts of assets allocated to these systems”, as well as “a gradual reduction in public debt levels and public pension spending.
”“Faced with the decrease in birth rates and the increase in average life expectancy, social security systems are at the center of attention”, highlights Cristina Duarte, head of Mercer, cited in a statement.
In this sense, it is argued that it is necessary to “guarantee a strong alignment between public and private pension schemes, increase employee coverage and promote greater workforce participation for those who wish to work at older ages”.
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