The United States continues to lag other developed countries when it comes to ensuring retirement security, according to the 2020 Global Retirement Index (GRI). Scandinavian countries maintained a strong showing in the top 15 with Iceland leading the way at No.1, Norway (No. 3), Denmark (No. 9), Sweden (No. 11), Finland (No. 15).
The index, in its seventh year, gives a snapshot of the well-being and financial security of retirees in 44 nations. The top three overall countries with the highest GRI score are Iceland, Switzerland, and Norway. All three have consistently traded off finishing first in the overall ranking for the past four years, the report noted. Overall scores for the 44 nations listed on the index are determined by creating individual scores for health, finances in retirement, material wellbeing, and quality of life.
The 2020 Global Retirement Index:
- New Zealand
- Czech Republic
- United States
- United Kingdom
- South Korea
New Zealand has been recognized as the best country in the world to retire, according to the CEOWORLD magazine, while Luxembourg and Switzerland placed second and third, respectively.