The Swiss have a lot to be thankful for. They are surrounded by beautiful pastoral lands, clean air, a good education system and retirement security that ranks better than all other countries in the world. That’s according to the 2015 Natixis Global Retirement Security Index. The global retirement index analyzes 20 trends across four categories — health, material well-being, finances and quality of life — to rank 150 countries on how likely a secure and comfortable retirement is for their citizens.
The U.S. came in at an unflattering No. 19, where it has resided for the last three years of this particular study. The good news for the U.S., however, is that it raised its ranking from No. 22 to No. 14 for “finances in retirement,” due in part to growth in gross domestic product, low interest rates and low inflation.
For a look at the top 10 countries for retirement security, continue reading.
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10. New Zealand (No. 9 in 2014)
New Zealand’s mandatory savings program has helped the country break the top 10. The program includes a $1,000 incentive from the government.
9. Germany (No. 7 in 2014)
The report points to Germany’s lackluster economic growth (as compared to 2014) and continuously falling interest rates as the reason for it two-spot fall from last year to 2015. The country’s low unemployment rate, growth in exports and strong health care system, among other things, have helped it remain in the top 10 spot for retirement security.
8. Austria (No. 3 in 2014)
The picturesque European country experienced a significant drop in ranking from last year, due to the long-lasting effects of the financial crisis, which is still having detrimental effects on the finances of current and future retirees. The good news? Austria’s health care system maintains its top ranking, driven by a high proportion of health professionals per capita, abundant funding and an improvement in health insurance coverage. Retirees in Austria also enjoy high levels of material wellbeing with a high level of income equality, income per capita and a low, albeit rising, level of unemployment.
7. Denmark (No. 6 in 2014)
Though Denmark slipped one spot from last year’s rankings, Danish retirees still have it good. They benefit from extensive government welfare programs and comfortable living standards. “Denmark has extremely low levels of income inequality coupled with one of the highest levels of income per capita, at approximately $45,000 (about $1,000 more than last year). Denmark also boasts a highly effective universal health system, with one of the highest levels of health expenditure per capita,” the report states.