As Botswana’s C-grade pension result puts broader coverage and lasting retirement income in focus
Botswana has recorded an overall score of 57.0 and a C grade in the 2026 Marsh CFA Institute Global Pension Index.It ranks second among the four African retirement income systems assessed, behind Namibia and ahead of Kenya and South Africa.
For Alexforbes, the result brings the focus back to a practical question: how can more people build savings that provide a reliable income throughout retirement.
The Index measures the adequacy of retirement income, the sustainability of the arrangements that fund it, and the integrity of the governance and protections supporting the system.
Botswana’s C grade recognises valuable features, but also weaknesses and risks that need to be addressed to strengthen long-term retirement security.
Head of Client Servicing at Alexforbes Botswana Nina Sephuma noted that for Botswana, the priority is to help more people save consistently and make those savings work as an income throughout retirement.
“The Index gives us a useful benchmark, but the score is not the end goal. What matters is whether people have access to retirement saving, understand their options and can retire with greater financial security,” she said.
Botswana’s overall score decreased from 59.8 in 2025 to 57.0 in 2026 .
The Index’s country commentary attributes the decline primarily to a recent court ruling on the treatment of pension assets on divorce and a refinement to the net pension replacement rate assessment to account for informal employment.
According to Alexforbes, the change should be read alongside the legal context and assessment methodology, rather than as a measure of pension-fund investment performance. Alexforbes has highlighted the need for broader participation, affordable and consistent saving, and preserving savings for retirement as priorities for the Botswana discussion.
“The focus should be on helping more workers build retirement provision and supporting members to understand how their savings can meet their later-life income needs” the Fund said.
