U.S. Ranks Eleventh for Retirees

A report issued by the Melbourne Mercer Global Pension Index finds that the U.S. ranks 11th out of 20 countries profiled, in terms of the strength of its retirement system. The U.S. received the unimpressive grade of “C,” and was ranked less favorably than Germany, the U.K. Chile, Singapore, Canada, Sweden, Switzerland, Australia, the Netherlands and Denmark.

The U.S. received a lower grade than in previous years due to average incomes in retirement decreasing as a percent of working income. The report also offers some policy suggestions, such as raising the retirement age for Social Security along with longevity and implementing mandatory contributions from employee retirement accounts.

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