This year’s top-ranking pension system belongs to the Netherlands. With an overall index score of 84.8, it has almost twice as many points as that of lowest-ranked India. Its Adequacy sub-index score of 86.3 also occupies the number one slot, while Sustainability and Integrity are very high too; at 81.7 and 86.8, they rank fourth and fifth place respectively.

The system consists of a flat-rate public pension and quasi-mandatory earnings-related occupational pension schemes. Normal retirement age is 68 but benefits are available up to 10 years earlier or five years later, giving a remarkable degree of flexibility.

The Netherlands shows that even as populations age, high-quality pensions remain possible. But while you might think such a world-beating system is hard to improve, Mercer still suggests one or two tweaks. These include introducing carers’ pension credits and better protection of accrued benefits. Even the best, it seems, can be made better.

Now discover what the average person earns in different countries around the world

The best and worst pension systems around the world today