Frequent reviews of retirement system a must – WEF
Written by Natalie Tuck
A case study on Denmark’s retirement system has highlighted the importance of frequently reviewing and updating retirement systems, the World Economic Forum has said.
The report by the World Economic Forum on retirement system reform highlighted that Denmark’s “well established and well regarded” pension system is constantly reviewed to ensure it delivers for future generations.
“Denmark's pension scheme highlights the importance of continually reviewing and updating the system to meet demographic challenges. The country, which has consistently performed well in the Melbourne Mercer Global Pension Index, has aligned the national retirement age with anticipated life expectancies,” the report said.
However, despite having one of the top retirement systems in the world Denmark still faces a challenge from inadequate savings rates and increasing life expectancy to its retirement system.