In retirement ranking, 18 countries beat the U.S.
Time for a quick quiz. When it comes to retirement security, would you be better off in: a) the U.S.; b) Canada; c) South Korea; or d) the Czech Republic?The answer, according to Natixis Global Asset Management, a Paris- and Boston-based company with $894.3 billion under management, is Canada, followed by South Korea and the Czech Republic—with the U.S. bringing up the rear.
For the third year in a row, the U.S. barely cracks the top 20 nations when it comes to retirement security, according to this year’s annual ranking from Natixis. Among the other countries the U.S. trails: top-ranked Switzerland and second-ranked Norway, as well as Australia, New Zealand, Iceland, and Luxembourg. The U.S. also trails Japan, which vaulted from 27th last year to 17th this year, thanks to its “fiscal reforms and health-care improvements,” the report says. And the U.S. barely edges out Slovenia—a country where GDP per capita is nearly half what it is in the states.
Not surprisingly, Western European countries with big commitments to social welfare programs dominate the top 20. While many of these countries have higher tax rates than the U.S., they also have better-funded national retirement programs. Top-ranked Switzerland has a mandatory pension system and a “well-funded universal health system,” says Natixis. Norway came in second thanks to its income equality—a measure with a big impact on retirees, the report adds.
While the U.S. is top-ranked on such key financial measures as low inflation and high G.D.P. growth, it lags behind other nations when it comes to access to medical care and income equality.
http://finance.yahoo.com/news/retirement-ranking-18-countries-beat-175150981.html
