According to the 2015 Natixis Global Retirement Security Index, Switzerland is the No. 1 spot for the well-being and life conditions that pre-retirees and retirees can expect across 150 countries. In contrast, Canada lands at no. 12 with the United States at no. 19.
The global retirement index analyzes 20 trends across four categories — health, material well-being, finances and quality of life — to rank 150 countries on how likely a secure and comfortable retirement is for their citizens. North America, including Canada, is at the top of the rankings this year, though with a lower overall score than 2014.
According to the report, North America’s remarkable performance is mostly due to its stability. Although Western Europe is at the top of the first three categories, its fourth-place ranking in the ‘finances in retirement’ sub-index drops the region to second place overall.
Canada’s best ranking was for ‘finances in retirement,’ where it sits at No. 11. According to the report, Canada’s economy performed better than most advanced countries in 2014 and may continue to outperform in 2015 with growth projections among some of the highest for advanced economies. The recent increase in inflation might prove to be a good thing for savers and retirees in the medium term as it may put pressure on the central bank to increase its key interest rates.
Canada is No. 16 in ‘quality of life,’ No. 24 in ‘material well-being,’ and No. 31 in health. Overall, the top 30 countries in the 2015 Natixis Global Retirement Security Index are:
10. New Zealand
14. South Korea
15. Czech Republic
19. United States
22. United Kingdom
25. United Arab Emirates