Australia, 3rd best country to retire in globally
- WYZA Life
- Retirement Planning
A global index that measures the welfare of retirees puts Australia near the top, with a system that is improving relative to that in other countries.
While Switzerland enjoys the top spot in the global index in 2015, Australia has moved up from fifth spot in 2014 to third this year.
The retirement index, produced by Natixis Global Asset Management was based on a ranking of countries scoring in 20 performance indicators, including quality health services, safety and comfort. The countries were also scored based on their economic performances.
Australia scores well in all categories and particularly well in health and quality of life. According to Natixis, Australia has relatively low levels of public debt and inflation and our country also has a strong bank balance sheet with low levels of unemployment compared to other countries.
It is estimated that only about half of the workers in the United States are covered by a workplace retirement plan while in Australia we have had compulsory superannuation since 1992.
The U.K. is in 22nd place as the country is still recovering from the GFC.
Retirees in the UK have also found it difficult to save due to an extended period of low interest rates.
What do you think - do we deserve the placing? Leave a comment below.