The Best Countries for Retirees in 2024

Are you dreaming of the perfect place to spend your golden years? The Natixis Global Retirement Index (GRI) for 2024 reveals the top countries for retirees, ranking 44 nations based on health, finances in retirement, material wellbeing, and quality of life. The closer to 100%, the better the performance. Let’s dig into the details of the top 30 countries and see how they stack up!

Cyprus and Portugal Share 28th Place

Cyprus maintains its score at 62%, despite dropping a spot. It shines in healthcare (74%) and quality of life (67%), but lags in retirement finances (53%) and material wellbeing (56%). Issues like a weak banking system are concerns.

Portugal also scores 62%, excelling in health (74%) and quality of life (67%). However, material wellbeing (51%) is low, with high government debt hinting at future tax increases.

Italy’s Mixed Bag, also at 28th

Italy impresses with a health score of 81% but struggles in material wellbeing (49%), the lowest in the top 30. High taxation and a 7.9% unemployment rate are major challenges.

Slovakia at 27th – A Balanced Performance

Slovakia scores in the 60s across all categories. While its healthcare system faces challenges, strong quality of life and material wellbeing (both 67%) are highlights.

Singapore – Excellent Health but Lower Quality of Life

Singapore boasts a top-notch healthcare system (82%) and high life expectancy. However, issues like pollution and income inequality pull down its quality of life (54%) and material wellbeing (53%).

Estonia’s Steady Climb to 25th

Estonia improves to 67%, with high quality of life (72%) and improving health and retirement finances. However, material wellbeing (63%) remains a concern.

Japan’s Unique Challenges at 24th

Japan struggles with retirement finances (51%), despite an excellent healthcare system (91%). Low interest rates and high old-age dependency are notable issues.

France and Malta at 22nd

France improves its score with strong health (88%) and quality of life (79%) but faces challenges in retirement finances (55%) and material wellbeing (58%).

Malta excels in health (78%) but has lower scores in quality of life (61%). Good healthcare and low unemployment are positives.

South Korea’s Quality of Life Concerns at 21st

South Korea scores 70% but faces unhappiness issues, impacting its quality of life score (59%).

USA Improves to 20th

The USA benefits from decreased income inequality and improved retirement finances. Health is a high point (78%), but the lack of universal healthcare for seniors is a drawback.

Belgium and Czech Republic Joint 17th

Belgium and Czech Republic both score 72%, with Belgium excelling in health but struggling in retirement finances. The Czech Republic faces high inflation and unemployment challenges.

Israel’s Complex Situation at 17th

Israel also ranks 17th, with a strong health system but challenges in material wellbeing. The recent conflict may affect future scores.

UK and Slovenia – Rising Stars at 15th

The UK and Slovenia both jump to 15th place. The UK’s NHS and high quality of life are key strengths, while Slovenia benefits from improved financial indicators.

Sweden and Finland – Nordic Strength at 12th

Sweden and Finland score 74%, with excellent healthcare and high quality of life. Finland’s happiness and environmental quality stand out.

Canada Ties with Nordic Giants at 12th

Canada impresses with its healthcare (85%) and quality of life, surpassing the USA in these areas.

Austria’s Consistent Performance at 11th

Austria scores well in health and quality of life (both 83%), with a strong healthcare system and good environmental quality.

Denmark and Germany – Top 10 Entrants

Denmark and Germany rank 9th, with high quality of life and strong healthcare systems. Denmark’s tax burden is notable, while Germany excels in biodiversity.

New Zealand and Australia – Great All-Rounders at 8th and 7th

New Zealand and Australia score well across all categories, with excellent healthcare and improving financial indicators.

Netherlands and Luxembourg – Joint 5th

Both countries score 79%, with impressive healthcare and quality of life. Luxembourg’s water and sanitation improvements are significant.

Ireland, Iceland, and Switzerland – Top Contenders

Ireland (4th), Iceland (3rd), and Switzerland (2nd) offer superb health and quality of life, though financial challenges persist in Iceland and Switzerland.

Norway – The Crown Jewel for Retirees

Norway tops the list with an 83% score, excelling in health (92%) and material wellbeing (84%). Its quality of life (87%) and healthcare system are world-class, despite high taxation rates.