Mumbai: India's retirement system continues to rank the lowest amongst the 25 countries, with less than 6 per cent of the working population in the country covered under private pension plans while Denmark tops the list with its well-funded plan, according to a recent report.

The country's score largely remained unchanged at a grade of 'D', which is between 35 and 50, indicating that it has some sound features but there are major omissions or weaknesses, according to 2014 Melbourne Mercer Global Pension Index (MMGPI).