The U.S. came in 22nd out of 47 countries, according to the latest Mercer CFA Institute Global Pension Index, with a slightly lower score than a year ago. The way Americans fund their retirement is primarily through Social Security and savings in 401(k)s and individual retirement accounts. That setup has some major shortcomings, particularly when it comes to long-term solvency, the report said.
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The US gets a C+ in retirement
“In the U.S., there’s good coverage of white-collar workers through employer systems. But what about the gig workers? What about the blue-collar workers?” said David Knox, a senior partner at Mercer and lead author of the report.
