Pension reforms need to be made now to spread long -term risks between government, employers and individuals.     That is the message of the Melbourne Mercer Global Pension Index just published in the UK.    The Index objectively assesses the retirement income systems in 16 countries across the Americas, Europe and Asia Pacific.

The results show that none of the countries included have a retirement system that delivers good benefits, is sustainable and has a high level of integrity.   While some countries are in better shape than others, the continuing risk of governments not being able to financially support their ageing population is becoming more of a reality.    The report also includes suggestions, such as raising of minimum pensions for low income workers, increasing the number of employees in occupational schemes and encouraging a rise in household savings.