China, Japan finish bottom of global pension index

Japan and China need to raise the state pension age to reflect rapidly aging populations and longer life expectancy, concludes consultancy Mercer after releasing its Global Pension Index 2010. With a score of 40.3, China ranked bottom of 14 countries covered by the index, which compares pension systems from around the world and ranks them based on adequacy, sustainability and integrity. The index, produced by Mercer and the Australian Centre for Financial Studies, is based on more tha…