Driving the news: Saudi Arabia has secured the top position among Gulf nations and ranked 12th globally out of 55 retirement systems evaluated in the 2026 Marsh CFA Institute Global Pension Index. The Kingdom’s score rose to 73.2 out of 100, from 67.6 in 2025.
Why it matters: The result puts Saudi Arabia ahead of several established pension systems, including the UK, Canada, France, Germany, Belgium, Ireland and Hong Kong.
The big picture: Marsh, formerly Mercer, and CFA Institute released the 18th edition of the index in October 2026, in cooperation with the Monash Centre for Financial Studies. The Saudi Press Agency (SPA) reported that the Kingdom improved in all three main pillars: integrity, sustainability and adequacy.
A Steady Climb up the Global Table
Saudi Arabia has advanced 15 places since 2022. That year, the Kingdom ranked 27th among 44 systems. Today, it ranks 12th among 55, even though the index has added more countries. Qatar, the Dominican Republic and Kenya joined the 2026 edition for the first time.
The progress has been consistent. Last year, The National reported that the Kingdom’s score rose to 67.6 from 60.5 in 2024, mainly because of better data on the minimum pension. This year’s gain of 5.6 points is larger still.
Zoom in: Integrity delivered the biggest jump. The Kingdom scored 83.5 in that pillar, up 9.3 points, and earned an A grade. The index awards no higher grade in this category. The pillar measures the quality of regulation, governance, protection of members’ rights and communication with members.
By the numbers:
- 2 out of 100: Saudi Arabia’s overall score in 2026, up 5.6 points from 67.6 in 2025.
- 12th of 55: The Kingdom’s global rank, up from 27th of 44 in 2022.
- 5 (A grade): Integrity score, up 9.3 points.
- 2: Sustainability score, up from 54.6, a gain of 6.6 points.
- 2: Adequacy score, up from 75.0, a gain of 2.2 points.
- B grade: The Kingdom’s overall category, which it retained.
- 50+ indicators: The index uses them across three pillars, weighted 40% for adequacy, 35% for sustainability and 25% for integrity.
- 66%: The share of the world’s population the 55 systems cover.
- 8: The Netherlands’ score, the highest in the 2026 index.
What Drove the Gains, and What Comes Next
The index credits the Kingdom’s rise mainly to stronger results in integrity indicators. These include better regulatory frameworks and governance, updated data, and stronger protection of members’ rights.
Saudi Arabia also outscored several fellow B-grade systems. The group includes the United Kingdom, Canada, France, Germany, Belgium, Ireland and Hong Kong. Within the Gulf, the Kingdom posted the highest score among the countries the index assessed. The UAE also improved, rising to 70.0 from 64.9 and earning a B grade.
Context matters for these rankings. Mona Naqvi of CFA Institute’s Research and Policy Center said all retirement systems share one long-term challenge: delivering reliable income as demographics shift. The report also warns that small score gaps do not prove one system beats another. Economic conditions, demographics and institutions differ widely.
Meanwhile, the retiree base keeps growing. Saudi General Organization for Social Insurance (GOSI) reported 593,604 pensioners in the second quarter of 2025. That figure shows why sustainability and adequacy remain priorities.
The bottom line: Saudi Arabia has climbed 15 places in four years, and it now leads its Gulf peers. Further gains in sustainability and adequacy could extend that progress in next year’s index.
What’s next: The SPA said the results give momentum to further development of the retirement and insurance protection system. GOSI contributes to that effort. The goal is to strengthen benefit adequacy and financial sustainability for current and future generations.
