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Ranked: The Top 25 Countries for Retirement

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A bar chart with the top 25 countries that are the best places for retirement in 2024.

Ranked: The Top 25 Countries for Retirement in 2024

In 1881, Otto von Bismarck proposed a radical idea for retirement: people above the age of 70 would be given a state pension, encouraging them to stop working.

This model has since been adopted en masse and most countries now have a retirement age, after which workers can claim benefits paid through years of their work.

However, modern-day retirement is much more than just finances. Wealth management company Natixis analyzed 44 nations on four main categories affecting the ability for their residents to retire well in the 2023 Global Retirement Index. Each category has subindices, from which they averaged scores out of 100 to create this ranking.

The categories are:

  • Health: Per capita spend on healthcare, life expectancy, and non-insured health spend.
  • Quality of Life: Happiness levels, water and sanitation, air quality, environment, and biodiversity.
  • Material Well-being: Per capita income, income equality, and employment levels.
  • Retirement Finances: Government debt, old-age dependency, interest rates, inflation, governance, taxes, and bank non-performing loans.
ℹ️ This index quantifies general retirement welfare in a country and does not account for countries which are retirement destinations—usually because of lower costs of living or better weather.

So, with one-third of the world expected to be 65 and older by 2050, how are countries stacking up against each other when it comes to creating supportive environments for retirement?

Of the countries analyzed for the best retirement conditions, here are the top 25.

What Are the Best Countries for Retirement?

Norway ranks first as the best country for retirement in this study, helped by top scores in health and material well-being.

For health metrics, Norway was one of the few countries to see life expectancy improve over the pandemic. It now sits at 83.3 years at birth, and is one of the highest rates in the world. This is in contrast to many other countries in the index (Canada, Austria, the U.S.) that saw life expectancies drop recently due to the higher mortality rate during the pandemic.

For well-being, Norway’s current low unemployment rate (3.8%) reduces undue pressure on their social security net.

In fact, Norway along with the next top three countries (Switzerland, Iceland, and Ireland) all retain their rankings from last year, along with Estonia, which is ranked 25th. Every other country gained or lost a spot as seen below.

RankCountryScoreRank Change
(from 2022)
1🇳🇴 Norway83%0
2🇨🇭 Switzerland82%0
3🇮🇸 Iceland81%0
4🇮🇪 Ireland80%0
5🇱🇺 Luxembourg79%+2
6🇳🇱 Netherlands79%+2
7🇦🇺 Australia78%-2
8🇳🇿 New Zealand77%-2
9🇩🇪 Germany76%+2
10🇩🇰 Denmark76%-1
11🇦🇹 Austria75%+3
12🇨🇦 Canada74%+3
13🇫🇮 Finland74%-1
14🇸🇪 Sweden74%-1
15🇸🇮 Slovenia73%+6
16🇬🇧 UK73%+3
19🇧🇪 Belgium72%+1
17🇮🇱 Israel72%-1
18🇨🇿 Czech Republic72%-8
20🇺🇸 U.S.71%-2
21🇰🇷 South Korea70%-4
22🇲🇹 Malta69%+1
23🇫🇷 France69%+1
24🇯🇵 Japan68%-2
25🇪🇪 Estonia67%0

Other highlights in the top 25 include: Australia, at 7th, which is the highest-ranked non-European country in the index. The country scores well in retirement finances due to its superannuation pension fund system, currently worth $3.5 trillion, fifth-largest in the world.

Meanwhile, France, just outside the top 20, saw widespread protests in early 2023 when a law to raise the retirement age to 64 was passed through special constitutional powers. Raising the retirement age will presumably keep people working longer, paying mandatory payroll tax to fund retirement benefits, and will improve their steadily worsening old-age dependency ratio.

A worsening old-age dependency ratio is where the share of older, dependent people to younger, employed people keeps increasing, reducing the sustainability of retirement benefits.

How Countries are Preparing for the “Silver Tsunami”

France is not the only country trying to keep its population working longer. The Chinese government is also looking to raise its retirement age in gradual shifts, as it grapples not only with an aging population but also a declining one.

Immigration has also been frequently cited as a near-term measure to boost the working-age population and increase the benefits pool. Canada, for example, had 6 workers for every retiree in 1980. In 2015 that had dropped to 4. By 2030, it will drop further to 3. As a result the country has pursued aggressive immigration for more than a decade now and has grown its population by 10 million since 2010.

Finally, there has been a push towards increasing overall productivity by targeting technological advancements and automation. However both need to occur in tandem with re-skilling so that they don’t result in net job losses, which will only further burden social security systems.

Where Does This Data Come From?

Source: Global Retirement Index.

Methodology: Under 18 metrics, a score from 0.01 to 1 is determined for each country in each indicator, which is then averaged to an overall percentage. The geometric mean is used for all averages to ensure consistency in results across variable scales. Furthermore, the index uses unit-elastic substitution. Thus, if a country has very low scores in certain subindices, improving another subindex to a high score will lead to a less-than-proportional increase in the overall index score. This is necessary since the underlying assumption of the index is that at least a basic level of health, finances, well-being, and quality of life is needed to enjoy retirement. To read Natixis’ full methodology, refer to page 54-58 in the linked report.

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The Wealthiest People in the World, Outside of America

This graphic shows the wealthiest people in the world that live in countries either than America, from luxury moguls to India’s titans.

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The Wealthiest People in the World, Outside of America

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Today, nine of the top 10 wealthiest people in the world are American, largely due to fortunes in big tech—but looking beyond U.S. borders tells a different story.

In Asia, people in the highest echelons of wealth are energy and industrial titans, while the richest in Europe run luxury conglomerates and major consumer firms. Many of these companies are well known globally, and several are only known within their region.

This graphic shows the richest people that live outside of America, based on data from Bloomberg.

The World’s Richest: A Global Perspective

Here are the wealthiest non-American people in the world as of January 2024:

RankNameCountryNet Worth
Jan 2024
1Bernard Arnault🇫🇷 France$183B
2Mukesh Ambani🇮🇳 India$108B
3Carlos Slim🇲🇽 Mexico$101B
4Françoise Bettencourt Meyers🇫🇷 France$97B
5Gautam Adani🇮🇳 India$96B
6Amancio Ortega🇪🇸 Spain$85B
7Zhong Shanshan🇨🇳 China$62B
8Gerard Wertheimer🇫🇷 France$47B

France’s Bernard Arnault, with a net worth of $183 billion, is the world’s richest person thanks to the success of LVMH, the luxury conglomerate he runs.

With brands including Louis Vuitton, Fendi, and Christian Dior, LVMH is among the largest public companies in Europe, reaching a $444 billion valuation in 2024. Last year, the company witnessed record revenues driven by sales in its fashion and leather divisions.

Latin America’s richest person is Carlos Slim, with a fortune of $101 billion. Slim’s net worth is equal to nearly 8% of Mexico’s GDP. His wealth is largely derived from his ownership of América Móvil, Latin America’s largest mobile-phone operator, as well as his conglomerate, Grupo Carso.

The world’s richest woman is Françoise Bettencourt Meyers, also from France. According to Bloomberg, Bettencourt Meyers’ controls one-third of L’Oreal, and is the chairwoman of her family’s private equity firm, Tethys Investments.

As China’s richest person, Zhong Shanshan is chairman of bottled water company, Nongfu Spring. The company is listed on the Stock Exchange of Hong Kong, where it raised $1.1 billion from its 2020 IPO. He is also involved with Beijing Wantai Biological Pharmacy Enterprise, a producer of vaccines.

While the richest people in America are heavily concentrated in tech, not one on this list derives the majority of their wealth from the sector, illustrating a clear departure from this trend.

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