Category: pension plans

Charted: The Global Decline of Fertility Rates


This post is by Carmen Ang from Visual Capitalist


Chart showing the change in global fertility rates since 1951

Charted: The Global Decline of Fertility Rates

Over the last 50 years, fertility rates have dropped drastically around the world. In 1952, the average global family had five children—now, they have less than three.

This graphic by Pablo Alvarez uses tracked fertility rates from Our World in Data to show how rates have evolved (and largely fallen) over the past decades.

What’s The Difference Between Fertility Rates and Birth Rates?

Though both measures relate to population growth, a country’s birth rate and fertility rate are noticeably different:

  • Birth Rate: The total number of births in a year per 1,000 individuals.
  • Fertility Rate: The total number of births in a year per 1,000 women of reproductive age in a population.

As such, the fertility rate is a more specific measure, which as Britannica highlights, “allows for more efficient and beneficial planning and resource allocation.” Not including immigration, a given area needs an overall total fertility rate of 2.1 to keep a stable population.

Global Fertility Rates since 1952

For the last half-century, fertility rates have steadily decreased worldwide. Here’s a look at the average number of children per woman since 1952:

YearAverage # of children per family% change (y-o-y)
19515.0-0.5%
19525.0-1.4%
19534.9-0.7%
19544.9-0.5%
19554.9-0.3%
19564.9-0.1%
19574.90.1%
19584.90.3%
19594.90.4%
19605.00.5%
19615.00.5%
19625.00.4%
19635.00.3%
19645.00.1%
19655.0-0.2%
19665.0 (Read more...)

Ranked: The Best and Worst Pension Plans, by Country


This post is by Carmen Ang from Visual Capitalist


The Best and Worst Pension Plans, by Country

The Best and Worst Pension Plans Worldwide

Each year, millions of people around the world leave the workforce to retire.

But as the global population grows older, and the COVID-19 pandemic accelerates the already rising number of retirees, there is still a large degree of variance in the quality of public pension plans around the world.

Which countries have invested in robust public pension programs, and which lag behind?

This graphic, using 2021 data from Melbourne Mercer Global Pension Index (MMGPI), compares retirement income systems worldwide.

How Mercer Ranks Pension Plans

Because a country’s pension system is unique to its particular economic and historical context, it’s difficult to draw direct comparisons. However, there are certain elements that pension experts see as universally positive, and that lead to better financial support for older citizens.

As with previous rankings, MMGPI organized these universal elements into three sub-indexes:

  • Adequacy: The base-level of income, as well as the design of a region’s private pension system.
  • Sustainability: The state pension age, the level of advanced funding from the government, and the level of government debt.
  • Integrity: Regulations and governance put in place to protect plan members.

These three measures were used to rank the pension system of 43 different countries, representing more than 65% of the world’s population. This year’s iteration of the index notably includes four new countries—Iceland, Taiwan, UAE, and Uruguay.

The Full Ranking

When it comes to the best pension plans across the globe, Iceland, the Netherlands, and Denmark (Read more...)