Australia has overtaken the Netherlands in the latest Mercer list of best national pension systems, pushing the Dutch into third place.

Although the overall Dutch rating improved compared with the previous edition, Australia and survey leader Denmark improved even more, Mercer said. The survey is based on a study of 24 countries.

Mercer made several suggestions for improving the Dutch score. For example, a minimum access age would make it clear the funds are to be used in retirement, Mercer said.

Getting more older people to stay in work would also boost the system’s sustainability.