Paris-headquartered Natixis Investment Managers discusses results from its latest 2025 Global Retirement Index.

Want to know which country ranks best for areas such as finance, health, quality of life, happiness and income equality? An annual measure by Paris-headquartered Natixis Investment Managers finds that Norway comes top, displacing Switzerland, while the US has risen to 21st place in overall rankings. The findings come in the Natixis Investment Managers latest 2025 Global Retirement Index.

Norway, an oil-rich state, has a score of 83 per cent. 

Ireland rose two places to second, its strongest performance to date, having recorded gains in three sub-indices, while remaining first in finance, the index shows. Germany was the only large, developed country within the top 10, ranking eighth, led by strong performance in health and quality of life, the firm said. Despite a slight drop in the score from last year, the UK remains at 14th place in the retirement index, outperforming France and the US. France dropped out of the top 25, slipping three places to 27th with a score of 65 per cent, the firm continued.

At a time when affluent and HNW individuals are reportedly keen to move to different jurisdictions because of geopolitics, tax and social conditions, a measure of how different countries stack up for those heading into retirement can be instructive as to possible destinations – and ones that might be at risk of an exodus. 

Singapore's surge
Singapore made the biggest leap in this year’s rankings, climbing to 13th from 25th in 2024 – a 12-place jump, largely due to a dramatic improvement in material wellbeing.

Canada recorded the steepest declines, falling seven spots from 13th to 20th with scores decreasing across three of the four sub-indices, most notably in health. New Zealand fell out of the top 10 to 12th following a four-point drop, while Luxembourg remained in the top 10 but slipped from sixth to ninth, even as it continued to lead the health sub-index.

The US rose one place to 21st in the overall rankings this year with a steady score of 70 per cent. However, it suffered declines in scores for both the material wellbeing and quality of life sub-indices.

Created in collaboration with CoreData Research, the GRI offers a view of what it takes to enjoy a healthy and secure retirement. Beyond finances, it assesses factors such as healthcare access and cost, climate, governance, and overall population wellbeing. Rankings are relative, based on 18 performance measures across four sub-indices: finances in retirement; material wellbeing; health; and quality of life, scored from 0 per cent to 100 per cent, which together provide a full picture of the retirement environment in each country.

With movement in country rankings, the annual index, shows the advantage that smaller countries have when it comes to retirement, with only one large, developed country, Germany (eigth), breaking into the top 10. This appears to result from the smaller nations being able to reach greater consensus on the main areas that affect retirees. Of the larger developed countries, the UK comes in second place following Germany in top spot.

“Pressures on retirement across the globe are undeniable, and the results of the index underscore the importance of proactive planning across all areas to safeguard the future of retirees,” Andrew Benton, head of Northern Europe & MEACA, Natixis IM said. “In the UK, while rankings remain largely consistent, there are clear vulnerabilities in the labour market weighing on progress. The government has already signalled action, with reforms announced in July to strengthen pension systems, expand choice, and enhance consumer protections, and we expect to see more measures in the Autumn Budget.”

“Now in its 13th year, the Global Retirement Index reflects a growing concern that achieving retirement security is becoming harder in 2025, with volatility in personal finance, demographics, economics, and policy fuelling uncertainty about life after work,” he added. “Retirement security is a shared responsibility and individuals, governments, financial service providers and employers all have a role to play.”

The firm highlighted that sticky inflation is continuing to erode retirement savings. According to the 2025 Natixis Survey of Individual Investors, 66 per cent of investors report saving less due to higher everyday costs, 69 per cent said it has reduced the future value of their retirement funds, and 38 per cent said inflation is “killing” their retirement dreams.

The Global Retirement Index assesses factors that drive retirement security in 44 countries where retirement is a pressing social and economic issue. It was compiled by Natixis Investment Managers with support from CoreData Research. The index includes the International Monetary Fund (IMF) advanced economies; members of the Organization for Economic Cooperation and Development (OECD); and the BRIC countries (Brazil, Russia, India and China). The researchers calculated a mean score in each category and combined the category scores for a final overall ranking of the 44 nations studied. The GRI analysis was carried out between March and May 2025.