List Of Worlds Worst And Best Prison Systems In 2021; India Near Bottom Of Index

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The Logical Indian Crew

List Of World's Worst And Best Prison Systems In 2021; India Near Bottom Of Index

According to Mercer CFA Institute Global Pension Index for 2021, Iceland has the best prison system in the world while India sits near the bottom of the list.

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Iceland grabs the top spot in the recently released Mercer CFA Institute Global Pension Index for 2021. The studies show how the world is gearing up to set up its ageing population for retirement. It was applauded worldwide for its competence in providing strong benefits to retirees, including the generous state pension. The scores of 11 countries, including India and South Korea, has been relegated this year as the world struggled to cope with the economic fallout from the COVID-19 pandemic.

The current economic environment with reduced wage growth, historically low-interest rates and shrinking returns in many asset classes is placing additional financial pressures on existing retirement income systems, according to the reports in Business Standard.

However, India stands at 40th position out of 43 countries in the Mercer CFA Global Pension Index 2021 survey suggesting the need for dire renewal of obsolete pension system, to ensure the availability of sufficient funds to be allocated to the retirees. India has an overall Index value of 43.3 in 2021, lower than that of 2020 which was 43.3 among the surveyed countries. Whereas, the overall index value of Iceland stands at 84.2

The Index comprises three yardsticks to evaluate the retirement pensions systems around 3 sub-indexes - adequacy, sustainability and integrity.

The adequacy sub-index represents the adequacy of the benefits that are being provided, the current system is able to provide, the sustainability sub-index represents the likelihood that the current system is able to provide benefits in the future. Whereas, the integrity sub-index includes many legislative requirements that influence the overall governance and operations of the system which directly affects the level of confidence that the citizenry entrusts in its government.

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Writer : Shweta Singh
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Editor : Snehadri Sarkar
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Creatives : Snehadri Sarkar

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