Post-retirement life in India can be extremely difficult. So much so that it is possibly the world’s worst country to retire.
The country has ranked lowest in the Natixis Global Asset Management’s annual Global Retirement Index (GRI) this year.
Norway is considered the best country to retire, followed by Switzerland. Iceland with a population of less than half a million stood third in the list. The United States was ranked 14.
The Global Retirement Index (GRI) is a multi-dimensional index developed by Natixis Global Asset Management and CoreData Research to examine the factors that drive retirement security, the company said.
The index also took into account the best practices followed by the countries in their retirement policies.
The list by Natixis ranked only 43 nations. India’s neighbours like Pakistan and Bangladesh were not in the list.
India ranked lowest in health expenditure per capita, non-insured health expenditure and life expectancy out of all 43 countries in this year’s GRI.
“In the health sub-index, India ranks last. India has a health index score of just 4%, the lowest score in any sub-index in this year’s GRI,” the report said.
The country also fared worst in Quality of Life Index, the report said.
In last year’s survey, India ranked 88 among the 150 countries.