India’s rank on the Global Pension Index 2023

Current Context: The Global Pension Index 2023 is a report that compares and ranks the retirement income systems of 47 countries, representing 64% of the global population.

• India’s rank on the Global Pension Index 2023 has fallen to 45th position out of 47 countries, according to a report by Mercer and CFA Institute.
• The index measures the adequacy, sustainability, and integrity of retirement income systems around the world. India scored 37.3 out of 100, which is lower than the global average of 59.7.
• Netherlands with a score of 85 and a rating of A,Iceland with a score of 83.5 and a rating of A,Denmark with a score of 81.3 and a rating of A.
• The report said that India can improve its score by improving minimum support and expanding coverage of pension arrangements to workers in the unorganized sector.

Question:

Q.1 Which country ranked first on the Global Pension Index 2023?
a. Netherlands
b. Denmark
c. Finland
d. Norway