Denmark scores top marks in retirement income report

Only the Netherlands was deemed to have better income conditions for its retirees

According to the 2015 Retirement Income Adequacy report (RIA) from the German finance services company Allianz, Denmark is one of the best nations in the world in terms of providing adequate retirement income for its citizens.

Denmark was ranked second behind the Netherlands out of 49 countries, just ahead of Norway, Switzerland and Japan, which completed the top five.

“The Netherlands, Denmark, Switzerland, the US and Sweden show very high scores for their funded pillars besides a high to moderate level for their public pension; moreover, they show strengths in the additional factors, non-pension wealth, low spending needs for health and good progress with respect to an extended working life,” the report found.

READ MORE: Dansk Industri proposing to remove top tax bracket and increase pension age faster

‘Dejlig’ to retire
Denmark ranked fourth for the ‘spending needs’ sub-indicator, 11th for ‘non-pension wealth’ and 16th for ‘transition from work’.

The RIA (here in English) ranked the nations by examining relevant elements of public and private pension schemes and non-pension factors that influence the financial well-being of retirees.

The US, Austria, Sweden, Hungary and New Zealand rounded up the top 10, while other notables included Canada (12), Germany (13), the UK (14), Brazil (16), France (20), South Korea (31), Australia (34), Russia (36), China (43) and India (47).

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