Here is the report itself http://ngam.natixis.com/global/1422746034925/Global+Retirement+Index+Report - the top 11 countries are all northern European plus Australia (3) and New Zealand (10) and Canada comes in 12th.
It is interesting to note that just about all the nations in the top 20 had their scores go down, and the US score went down less than a most.
a clear example of these forces at play are the high scores earned by the United States in the finances in Retirement index where the country saw the results of continued economic growth in year-over-year improvements for non-performing loans, inflation and interest rates. improvements in these factors are overshadowed by a persistent budget deficit and high levels of government debt, rising tax
pressures and increased income inequality. additionally, the availability of government services has not kept pace with economic growth and high healthcare costs are troublesome for retiree wellbeing. as a result, the U.S. remains in the 19th position in the index for a third year
Thanks for sharing. Here are their policy recommendations.
1. While government benefits may no longer be the sole source of income for many retirees, these funds still represent an
important income source and as such they will still need to be funded, as will health and welfare programs that are essential
to wellbeing in retirement.
2. Beyond these programs, governments can help address retirement needs with sympathetic tax policies that encourage
individuals to take the first step toward ensuring a secure retirement: saving a larger share of their annual salary toward their
future needs and obligations.
3. Establishing policies that encourage innovation is another critical step forward. Mandatory or semi-mandatory programs such as
Australia’s Superannuation and New Zealand’s KiwiSaver have proven to be effective measures for increasing participation among
individuals and employers alike.
4. Recently, in the U.S., the State of Illinois has announced the Secure Choice retirement savings program in which individuals not
covered by a workplace retirement plan will be automatically enrolled. Contributions to individual accounts will come via a 3%
payroll deduction. While participation is voluntary, individuals will need to opt out should they not want to contribute. The plan,
which is similar to what’s been discussed by the Obama administration at the federal level, could present a powerful test case for
addressing a growing retirement savings crisis in the U.S. and abroad.
5. It is important to note the direct connection between fiscal policy and retirement security. Sound, forward-thinking policies that
are sensitive to the strength of the national economy go a long way toward improving the quality of life for retirees. Recent moves
by Switzerland to strengthen the franc against the euro go a long way toward increasing purchasing power of the country’s retirees,
a critical consideration for individuals seeking to make their retirement savings last.