Which Country Has the Top Retirement System? (2024)

FAQs

Which Country Has the Top Retirement System? ›

The Netherlands, Iceland, Denmark, and Israel have the best pension systems, according to the report. The U.S. ranks far from the top.

Switzerland tops U.S. News & World Report's best countries for retirement. The rankings consider affordability, healthcare, and quality of life among 89 countries. New Zealand, Portugal, and Australia also ranked high for a comfortable retirement.

Norway is rated one of the top overall countries to retire to, due to its excellent healthcare, strong economy, beautiful scenery, and focus on work-life balance. Financial security, healthcare system, and lifestyle are the most common factors to consider when choosing a retirement country.

The Netherlands is top of the class when it comes to comparing pension systems around the world, according to a recent global pensions report from the Mercer CFA Institute. The ranking looked at more than 50 indicators and compared 47 retirement income systems, covering 64% of the world's population.

Key Takeaways. Retirement in the U.S. offers a predictable and familiar lifestyle, and you'll be close to your friends and family. But it can be expensive and lead to a boring routine. Retiring abroad can bring new and exciting experiences, a change of scenery, and a lower cost of living.

Popular countries for U.S. retirees are primarily in Europe, Latin America and Southeast Asia. Costa Rica and Panama have the lowest financial requirements for retirement visas. More expensive countries, such as New Zealand, can be appealing because of their political stability.

The American and Canadian systems provide many similar benefits to retirees with similar types of tax-advantaged accounts that allow people to save for retirement. But Canadian retirees enjoy a lower poverty rate than those on the other side of the border.

Who has the best pension system in the world? ›

Based on its high marks for affordability, access to high quality health care, overall well-being and other categories, Delaware, known as the "First State," earned the top spot in Bankrate's annual ranking of the best states to retire in the U.S. In 2023, the state ranked No.

Iceland tops the list of nations having the highest average retirement age, followed by Israel and Norway. While the retiremen age in India is 60 years, there are multiple countries where people continue to be employed beyond 65 years of age.

Many countries offer excellent health care, infrastructure and amenities at a fraction of the cost compared to the U.S. The cheapest places to retire abroad include Panama, the Philippines, Portugal, Malaysia, Mexico, Thailand and Vietnam.

Countries Natixis ranked as secure retirement locations are mostly concentrated in Europe but also include New Zealand and Australia. The top three countries in the rankings are Norway, Switzerland and Iceland, all of which have life expectancies of 83 years, compared to 76.1 in the U.S. and the world average of 72.

Costa Rica. With its tropical climate, universal health care system and low cost of living, Costa Rica is a popular retirement spot for Americans on Social Security. Some couples can live well in the country on just $2,000 per month, while others may need up to $3,000.

Countries like Costa Rica, Panama, Ecuador, and Belize are frequently cited for their affordable cost of living and pleasant climates. Known for the “pura vida” lifestyle, Costa Rica provides a stable and friendly environment. Panama stands out for its pensionado visa offering discounts to retirees.