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Countries in Europe and Central America dominate 2021’s Top 10 list of best places to retire. The most popular retirement destinations feature good weather, professional healthcare provision, simple access and affordability. Spoiler alert: Panama tops the list of the world’s best retirement spots for 2021.
The 2022 Natixis Global Retirement Index ranks the best countries to retire in, based on several different factors. These include health, quality of life, material well-being and finances during retirement. With an overall score of 81%, Norway is the most retirement-friendly country on the list. North America tops the regional rankings.
1. Panama Panama is the world’s best place to retire in 2019, improving on third place in last year’s index. Warm weather and an even warmer welcome from locals and expats, coupled with a low tax burden and low cost of living make it a haven for retirees.
The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests.
The average expected length for retirement in OECD countries has remained mostly flat in recent years, at around 23 years for women and 19 years for men. Still, lengths can vary widely thanks to factors such as a country's retirement age or life expectancy.
To combat issues, many countries, including several EU member states and OECD nations, are increasing the age at which men and women can retire. In the UK for example, the state pension age will increase for both men and women to reach 66 by October 2020.
The amount they receive and the age that workers are eligible to receive a pension also influence the decision to retire. A 2012 study by Hurd, Mitchaud and Rohwedder found that public pensions have a negative effect on people’s savings and encourage them to retire early. The study concluded that a $10,000 increase in public pension worth ...
Many Asian countries including China, India, and South Korea have official minimum retirement ages in the early 60s and late 50s, but see workers stay in the workforce well into their late 60s. Meanwhile, most European countries as well as the U.S. and Canada have more workers retire earlier than minimum retirement ages on average.
So-called “old-age expenditure” is forecast to rise by 80%, between now and 2050, across the 38 countries that comprise the Organization for Economic Co-operation and Development (OECD). A similar picture is developing across many advanced countries.
In these two countries women have the same retirement age as men, at 67 years old. Next on the list, based on data from the OECD’s Pensions at a Glance report, published this year, are the US, Portugal and Ireland, where women can retire at 66 years old. (The figures in the chart are based on the age at which the population could take their ...