The United Arab Emirates’ retirement income scheme came in 22nd out of 43 countries with long-standing pension systems, including the United States, France, and Spain. According to the 13th annual Mercer CFA Institute Global Pension Index, which included the UAE for the first time, Iceland was placed first, followed by the Netherlands, while Thailand was ranked bottom. The rating is based on a study of 65 percent of the world’s population’s pension systems. It compares and contrasts retirement income arrangements all throughout the world.
According to Mercer, the UAE pension system outperformed its global peers in terms of adequacy, sustainability, and integrity. “The UAE has a strong pension system in place for Emiratis, as evidenced by its inclusion in our annual MCGPI survey, where it ranks with many peers with more established systems,” said Hazem Abdel-Rahman, Mercer’s Middle East retirement business head. “As life expectancy rises, the UAE may benefit from raising the retirement age; several countries have already taken this step to secure the ability to cater for the elderly and future generations.