According to the 15th annual Mercer CFA Institute Global Pension Index (MCGP

According to the 15th annual Mercer CFA Institute Global Pension Index (MCGPI), India had an overall index value of 45.9 from 44.5 in 2022, ranking 45 out of the 47 retirement income systems analysed primarily due to improvement in adequacy and sustainability sub-indices. The Netherlands had the highest overall index value (85.0), closely followed by Iceland (83.5) and Denmark (81.3). Argentina had the lowest index value (42.3)  The 2023 Global Pension index includes three new retirement income systems – Botswana, Croatia, and Kazakhstan.   Several Asian systems, however, including mainland China, Korea, Singapore, and Japan, have undertaken reforms to improve their scores in the last five years.