10 more places to retire in the world
Here are the last 10 places that are ranked in the top twenty:
11.
Canada
(Rank: 11):
·
Pension
System: Basic national
benefits, means-tested income supplement, and public pension plans.
·
Strength: Diversification of income sources and
adjustments for inflation.
·
Challenge: Improvement needed in quality of life and
material well-being.
12.
New
Zealand (Rank: 12):
·
Pension
System: Universal public
pension, KiwiSaver DC Retirement scheme, and alternative occupational schemes.
·
Strength: Effective in preventing elderly poverty,
ranked 8th in the Natixis GRI Index.
·
Challenge: Improvements needed to enhance overall
ranking.
13.
United
Kingdom (Rank: 13):
·
Pension
System: State pension,
workplace pensions, and personal pensions.
·
Strength: Climbed three spots in the GRI Index, driven
by strong performance in Finances in Retirement.
·
Challenge: Improvements needed, including raising the
minimum pension for low-income pensioners.
14.
Germany
(Rank: 14):
·
Pension
System: Earnings-related
pay-as-you-go system, means-tested safety net, and supplementary pension plans.
·
Strength: Improved in the GRI Index, moving up two spots
to the 9th rank.
·
Challenge: Areas of improvement include increasing funded
contributions in private pension plans.
15.
Singapore
(Rank: 15):
·
Pension
System: Central Provident Fund
(CPF) with benefits accessible for withdrawal at any time.
·
Strength: Ranked 7th in the Mercer Index, with increased
pension coverage.
·
Challenge: Drop in the Finance sub-index in the GRI
Index.
16.
Belgium
(Rank: 16):
·
Pension
System: Public, occupational,
and private pension schemes.
·
Strength: “B” ranking from Mercer,
improvements in material well-being and quality of life.
·
Challenge: Health sub-index drop in the GRI Index.
17.
United
States of America (Rank: 17):
·
Pension
System: Combination of public
and private plans.
·
Strength: C+ ranking with good features, but risks need
addressing.
·
Challenge: Slipped two places in the GRI Index, impacted
by deteriorating health, material well-being, and old-age dependency=
18.
Austria
(Rank 18)
·
Pension
System: A Defined Benefit (DB)
public pension scheme, complemented by an income-tested top-up for low-income
pensioners and voluntary private pension plans.
·
Strength: Austria’s retirement system is regarded as
one of the best, with generous pensions which contributes to the system’s
strength.
·
Challenge: Despite its overall strength, Austria faces
the challenge of an Aging population. As the proportion of elderly individuals
increases, there may be a strain on the pay-as-you-go pension system.
19. France: (Rank 19)
·
Pension
System: Includes an
earnings-related public pension, a supplementary retirement pension scheme for
private-sector workers (AGIRC-ARRCO), and occupational plans.
·
Strength: France spends heavily on its retirement
system, and the country has one of the lowest qualifying ages for a state
pension in Europe.
·
Challenge: A major challenge for France’s retirement
system is the need for reforms to address demographic shifts and financial
sustainability.,
20. Japan (Rank: 20):
·
Pension
System: Comprises a flat-rate
basic pension and an earnings-related plan with private pension options.
·
Challenges: Demographic imbalance with 29.1% of the
population aged 80 or older, impacting the retirement Security of the pension
system.
·
Strength: The cultural emphasis on financial
discipline also contributes to the strength of the system. This diversified
approach provides a mix of public and private support, enhancing the overall
resilience of the pension system.
Originally Published on https://boomersnotsenior.blogspot.com/
