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South Africa slips to 51st of 55 in global pension index

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South Africa scored 50.4 in the 2026 Marsh CFA Institute Global Pension Index and ranked behind Botswana, Namibia and newly added Kenya, which all received a C rating. Alexforbes expert Belinda Sullivan said the country needs reform.

South Africa ranked 51st in the 2025 index as well. The 2026 index covers 55 countries, after the Dominican Republic, Kenya and Qatar joined. South Africa scored 37.3 on the adequacy sub-index, which has a 40% weighting.

Sullivan is Head of Corporate Consulting Strategy at Alexforbes. She said the adequacy measure asks: "Are retirees receiving enough income for the dignified retirement that we hope they have in the future?" She called the index the world's leading independent benchmark for comparison.

Sullivan said South Africa's system is largely private or driven by institutions, and it lacks a broad social security system. She said no rule obliges employers in the private system to provide retirement funding.

She said auto-enrolment could help close the gap. It would start at a lower contribution rate that rises over time, if made affordable.

Key facts

Who
Belinda Sullivan (Head of Corporate Consulting Strategy at Alexforbes); Alexforbes (financial services company, Sullivan's employer)
What
South Africa fell in the 2026 Marsh CFA Institute Global Pension Index, ranking 51st of 55 countries and trailing Botswana, Namibia and newly added Kenya, all rated C. Belinda Sullivan of Alexforbes discussed the findings and the need for reform.
When
27 October 2026
Where
South Africa, Botswana, Namibia
Status
Reported

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