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When we are young, we rarely think of retirement, but come a certain point in life and retirement feels like it is fast approaching — welcome or not. How we feel about retirement largely depends on how well we are prepared for it financially, the general economic conditions, and the support from different levels of government and the community.
Taking many of these factors into account, Natixis Investment Managers and CoreData Research developed the Global Retirement Index, which compares retirement security, policies, and practices in 44 countries.
To determine the best countries to retire in the world, 24/7 Wall St. reviewed data from the 2022 Natixis Global Retirement Index report. The composite welfare index combines 18 indicators grouped into four sub-indices: health index, material wellbeing index, finances in retirement index, and quality of life index. Countries are listed here in order of their overall score. Additional data regarding the 65 and older population, gross domestic product per capita in current U.S. dollars, and life expectancy at birth came from the World Bank Open Data.
The 25 countries on the list score 66% and over, though among the 44 countries measured, the lowest score is 9% and the highest 81%. The major moves at the top are Luxembourg and Czech Republic, which replace Germany and Canada in the top 10. Countries in the top 10 typically score very well across all four sub-indices.
The U.S. ranks 19th, and among the sub-indices scores the highest in finances in retirement. The U.S., however, has the lowest life expectancy among the 25 countries listed. Within the U.S., these are the most and least expensive states to retire in.
25. Estonia
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- Global retirement index score, 2022: 66%
- Quality of life sub-index: 68% (sub-index ranking: 23)
- Pct of 65+ population, 2022: 20.6% of country population (world: 9.8%)
- GDP per capita, 2022: $28,333 (world: $12,647)
- Life expectancy at birth, 2021: 76.7 years (world: 71.3 years)
24. France
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- Global retirement index score, 2022: 66%
- Quality of life sub-index: 78% (sub-index ranking: 14)
- Pct of 65+ population, 2022: 21.7% of country population (world: 9.8%)
- GDP per capita, 2022: $40,964 (world: $12,647)
- Life expectancy at birth, 2021: 82.3 years (world: 71.3 years)
23. Malta
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- Global retirement index score, 2022: 68%
- Quality of life sub-index: Not in the top 25 for the sub-index (sub-index ranking: Not in the top 25 for the sub-index)
- Pct of 65+ population, 2022: 19.1% of country population (world: 9.8%)
- GDP per capita, 2022: $33,941 (world: $12,647)
- Life expectancy at birth, 2021: 82.9 years (world: 71.3 years)
22. Japan
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- Global retirement index score, 2022: 69%
- Quality of life sub-index: 67% (sub-index ranking: 25)
- Pct of 65+ population, 2022: 29.9% of country population (world: 9.8%)
- GDP per capita, 2022: $33,815 (world: $12,647)
- Life expectancy at birth, 2021: 84.4 years (world: 71.3 years)
21. Slovenia
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- Global retirement index score, 2022: 69%
- Quality of life sub-index: 69% (sub-index ranking: 22)
- Pct of 65+ population, 2022: 21.0% of country population (world: 9.8%)
- GDP per capita, 2022: $29,457 (world: $12,647)
- Life expectancy at birth, 2021: 80.9 years (world: 71.3 years)
20. Belgium
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- Global retirement index score, 2022: 69%
- Quality of life sub-index: 74% (sub-index ranking: 17)
- Pct of 65+ population, 2022: 19.7% of country population (world: 9.8%)
- GDP per capita, 2022: $49,583 (world: $12,647)
- Life expectancy at birth, 2021: 81.9 years (world: 71.3 years)
19. United Kingdom
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- Global retirement index score, 2022: 69%
- Quality of life sub-index: 82% (sub-index ranking: 7)
- Pct of 65+ population, 2022: 19.2% of country population (world: 9.8%)
- GDP per capita, 2022: $45,850 (world: $12,647)
- Life expectancy at birth, 2021: 80.7 years (world: 71.3 years)
18. United States
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- Global retirement index score, 2022: 69%
- Quality of life sub-index: 72% (sub-index ranking: 21)
- Pct of 65+ population, 2022: 17.1% of country population (world: 9.8%)
- GDP per capita, 2022: $76,399 (world: $12,647)
- Life expectancy at birth, 2021: 76.3 years (world: 71.3 years)
17. Korea, Rep.
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- Global retirement index score, 2022: 70%
- Quality of life sub-index: Not in the top 25 for the sub-index (sub-index ranking: Not in the top 25 for the sub-index)
- Pct of 65+ population, 2022: 17.5% of country population (world: 9.8%)
- GDP per capita, 2022: $32,255 (world: $12,647)
- Life expectancy at birth, 2021: 83.5 years (world: 71.3 years)
16. Israel
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- Global retirement index score, 2022: 70%
- Quality of life sub-index: 74% (sub-index ranking: 18)
- Pct of 65+ population, 2022: 12.0% of country population (world: 9.8%)
- GDP per capita, 2022: $54,660 (world: $12,647)
- Life expectancy at birth, 2021: 82.5 years (world: 71.3 years)
15. Canada
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- Global retirement index score, 2022: 71%
- Quality of life sub-index: 74% (sub-index ranking: 16)
- Pct of 65+ population, 2022: 19.0% of country population (world: 9.8%)
- GDP per capita, 2022: $54,966 (world: $12,647)
- Life expectancy at birth, 2021: 82.6 years (world: 71.3 years)
14. Austria
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- Global retirement index score, 2022: 71%
- Quality of life sub-index: 82% (sub-index ranking: 8)
- Pct of 65+ population, 2022: 19.8% of country population (world: 9.8%)
- GDP per capita, 2022: $52,131 (world: $12,647)
- Life expectancy at birth, 2021: 81.2 years (world: 71.3 years)
13. Sweden
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- Global retirement index score, 2022: 71%
- Quality of life sub-index: 87% (sub-index ranking: 3)
- Pct of 65+ population, 2022: 20.2% of country population (world: 9.8%)
- GDP per capita, 2022: $55,873 (world: $12,647)
- Life expectancy at birth, 2021: 83.2 years (world: 71.3 years)
12. Finland
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- Global retirement index score, 2022: 71%
- Quality of life sub-index: 89% (sub-index ranking: 1)
- Pct of 65+ population, 2022: 23.3% of country population (world: 9.8%)
- GDP per capita, 2022: $50,537 (world: $12,647)
- Life expectancy at birth, 2021: 81.9 years (world: 71.3 years)
11. Germany
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- Global retirement index score, 2022: 72%
- Quality of life sub-index: 80% (sub-index ranking: 13)
- Pct of 65+ population, 2022: 22.4% of country population (world: 9.8%)
- GDP per capita, 2022: $48,432 (world: $12,647)
- Life expectancy at birth, 2021: 80.9 years (world: 71.3 years)
10. Czechia
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- Global retirement index score, 2022: 73%
- Quality of life sub-index: 68% (sub-index ranking: 24)
- Pct of 65+ population, 2022: 20.6% of country population (world: 9.8%)
- GDP per capita, 2022: $27,638 (world: $12,647)
- Life expectancy at birth, 2021: 77.4 years (world: 71.3 years)
9. Denmark
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- Global retirement index score, 2022: 74%
- Quality of life sub-index: 88% (sub-index ranking: 2)
- Pct of 65+ population, 2022: 20.5% of country population (world: 9.8%)
- GDP per capita, 2022: $66,983 (world: $12,647)
- Life expectancy at birth, 2021: 81.4 years (world: 71.3 years)
8. Netherlands
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- Global retirement index score, 2022: 75%
- Quality of life sub-index: 80% (sub-index ranking: 11)
- Pct of 65+ population, 2022: 20.3% of country population (world: 9.8%)
- GDP per capita, 2022: $55,985 (world: $12,647)
- Life expectancy at birth, 2021: 81.5 years (world: 71.3 years)
7. Luxembourg
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- Global retirement index score, 2022: 75%
- Quality of life sub-index: 81% (sub-index ranking: 10)
- Pct of 65+ population, 2022: 15.0% of country population (world: 9.8%)
- GDP per capita, 2022: $126,426 (world: $12,647)
- Life expectancy at birth, 2021: 82.7 years (world: 71.3 years)
6. New Zealand
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- Global retirement index score, 2022: 75%
- Quality of life sub-index: 81% (sub-index ranking: 9)
- Pct of 65+ population, 2022: 16.3% of country population (world: 9.8%)
- GDP per capita, 2022: $48,249 (world: $12,647)
- Life expectancy at birth, 2021: 82.2 years (world: 71.3 years)
5. Australia
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- Global retirement index score, 2022: 75%
- Quality of life sub-index: 77% (sub-index ranking: 15)
- Pct of 65+ population, 2022: 16.9% of country population (world: 9.8%)
- GDP per capita, 2022: $64,491 (world: $12,647)
- Life expectancy at birth, 2021: 83.3 years (world: 71.3 years)
4. Ireland
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- Global retirement index score, 2022: 76%
- Quality of life sub-index: 80% (sub-index ranking: 12)
- Pct of 65+ population, 2022: 15.1% of country population (world: 9.8%)
- GDP per capita, 2022: $104,039 (world: $12,647)
- Life expectancy at birth, 2021: 82.1 years (world: 71.3 years)
3. Iceland
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- Global retirement index score, 2022: 79%
- Quality of life sub-index: 86% (sub-index ranking: 6)
- Pct of 65+ population, 2022: 15.3% of country population (world: 9.8%)
- GDP per capita, 2022: $72,903 (world: $12,647)
- Life expectancy at birth, 2021: 83.1 years (world: 71.3 years)
2. Switzerland
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- Global retirement index score, 2022: 80%
- Quality of life sub-index: 86% (sub-index ranking: 5)
- Pct of 65+ population, 2022: 19.3% of country population (world: 9.8%)
- GDP per capita, 2022: $92,101 (world: $12,647)
- Life expectancy at birth, 2021: 83.9 years (world: 71.3 years)
1. Norway
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- Global retirement index score, 2022: 81%
- Quality of life sub-index: 87% (sub-index ranking: 4)
- Pct of 65+ population, 2022: 18.4% of country population (world: 9.8%)
- GDP per capita, 2022: $106,149 (world: $12,647)
- Life expectancy at birth, 2021: 83.2 years (world: 71.3 years)
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