How secure is retirement worldwide? From uncertainty economics to aging demographics to climate change, global retirement security faces a wide range of modern risks. These issues have sweeping implications for a sustainable society. The Texas global retirement index looks at key factors that influence retirement security worldwide, including material well-being, health, finances and retirement, and quality of life. Here are the 10 countries with the best retirement security in no particular order.
Luxembourg moves up one spot from 11th last year to break into the top 10, replacing the Netherlands bolstered by higher relative scores in the quality of life a material well being some indices it’s number one overall for health and boasts higher scores for environmental factors and happiness indicators.
Australia slides back three places, scoring lower and quality of life and finances. It has the highest score among all countries for air quality and top 10 scores for interest rates and bank non-performing loans.
Canada climbs one spot to finish eighth this year based on improvements in the material well being and health sub-indices. It has the highest score of all countries ranked for bank non-performing loans and finishes in the top 10 for the life expectancy, air quality, and happiness indicators.
Denmark also raises one spot to overall fueled by improved scores in material well-being and finances; the country also has the highest score among all countries studied for quality of life. It ranks second for happiness, third for air quality, and six for environmental factors.
Sweden drops two spots from fourth last year, scoring lower in the quality of life and health sub-indices’ finance. It scored higher in the material well-being sub-index than 2018 and has top 10 finishes in the bank non-performing loans and governance indicators.
New Zealand displays steady and consistent performance ranking fifth for the third year in a row thanks to the top 10 rankings in the finances and quality of life sub-indices it ranks second overall for finances with top 10 finishes in governance bank non-performing loans and government indebtedness indicators.
Ireland jumps three spots to fourth overall based on improvements in health and finances, continuing its climb from 14th two years ago and seventh of last year. Ireland has improved scores in the insured health expenditure, health expenditure per capita bank non-performing loans, and government indebtedness indicators.
Norway remains in third place overall for the second year in a row with top 10 finishes in the happiness environmental factors and air quality indicators. It’s the only country in the grip to finish in the top 10. For all three health indicators. Norway registered slight declines in the quality of life material well being and finances some indices.
Switzerland drops one spot from number one in 2018, with the top 10 finishes in all four sub-indices. Although three scored lower than last year, it ranked second in the life expectancy and health expenditure per capita indicators and took the highest mark for environmental factors.
Iceland moved up one spot. While it registered a lower score than last year. It has the highest score for material well being for the second year in a row and enters the top 10 for the finances sub-index with all indicators except tax pressure and old-age dependency improving.