U.S. falls further in retirement security ranking among developed countries

The United States fell three places to 17th among 43 developed nations in retirement security, says a report from Natixis Global Asset Management. The firm's retirement index found the highest-ranking countries to be Norway, followed by Switzerland, Iceland, Sweden, Germany, Denmark, the Netherlands, Luxembourg, New Zealand and Australia. These countries benefit from a combination of strong social programs, widely accessible healthcare and low levels of income inequality. The study, now in its fifth year, creates an overall retirement security score based on 18 drivers of retiree wellbeing across the categories of finances, health, material wellbeing and quality of life. The U.S. has the fifth-highest income per capita among all nations in the index, but it registered higher levels of income inequality compared with last year, yielding the sixth lowest score for income equality in the material well-being category. It also spends more per capita on healthcare than any other nation, but ranked 7th in health overall and 30th in life expectancy. The U.S. remained in the top 10 for finances, but has the seventh-highest public debt as a percentage of GDP of all countries in the index, and an increasing ratio of retirees to employment-age adults, which puts pressure on government programs, including Social Security and Medicare.