Maybe you’ve priced a rental in Lisbon on a slow Sunday night. Or you’ve watched your grocery bill climb again and wondered how other countries take care of their retirees. The 2026 Natixis Global Retirement Index puts numbers on that second question.
Norway ranks first for the second year running, with a score of 83%. Ireland is second. The Netherlands climbs three spots to third. And the U.S.? It slips three places, to 24th of 44 countries.
That drop can sting if you’re a few years from retirement and already feel prices pressing on your plans. Most of what pulled the U.S. score down, like inflation and federal debt, sits outside your control. Your own plan is where you have room to act, and the report points to the exact pressures worth testing.
What Is the Global Retirement Index?
The Natixis Global Retirement Index scores 44 countries on how well they support people in retirement. It uses 18 indicators grouped into four categories: health, finances in retirement, material wellbeing, and quality of life. Natixis Investment Managers builds it with CoreData Research. A new edition lands each September.
The 44 countries come from three groups: IMF advanced economies, OECD members, and the BRIC nations. Every country gets a percentage score in each category, and the four combine into one overall score.
Here’s what each category tracks:
- Health: life expectancy, health spending per person, and the share of health costs insurance pays.
- Finances in retirement: old-age dependency, bank loan quality, inflation, interest rates, tax pressure, government debt, and governance.
- Material wellbeing: income per person, income equality, and unemployment.
- Quality of life: happiness, air quality, water and sanitation, biodiversity, and environmental factors.
The index scores how a country treats the people who already retire there. Where an American could move is a separate question, and we get to it below.
2026 Global Retirement Index: All 44 Countries Ranked
Norway leads the 2026 index at 83%, followed by Ireland (81%), the Netherlands (79%), Switzerland (79%), and Denmark (78%). Nine of the top 10 countries are in Europe. Australia, in sixth, is the exception. At 68%, the U.S. lands 24th, between Cyprus and Japan.
| Rank | Country | Overall | Health | Finances in Retirement | Material Wellbeing | Quality of Life |
|---|---|---|---|---|---|---|
| 1 | Norway | 83% | 92% | 70% | 81% | 90% |
| 2 | Ireland | 81% | 92% | 76% | 77% | 82% |
| 3 | Netherlands | 79% | 88% | 67% | 80% | 81% |
| 4 | Switzerland | 79% | 93% | 74% | 68% | 82% |
| 5 | Denmark | 78% | 86% | 61% | 83% | 87% |
| 6 | Australia | 77% | 89% | 72% | 69% | 79% |
| 7 | Germany | 75% | 85% | 63% | 73% | 82% |
| 8 | Luxembourg | 75% | 94% | 68% | 58% | 85% |
| 9 | Iceland | 75% | 87% | 67% | 59% | 90% |
| 10 | Czechia | 75% | 76% | 68% | 82% | 73% |
| 11 | Slovenia | 73% | 84% | 60% | 78% | 74% |
| 12 | New Zealand | 73% | 87% | 73% | 58% | 76% |
| 13 | Singapore | 72% | 84% | 73% | 73% | 62% |
| 14 | Malta | 72% | 82% | 65% | 72% | 70% |
| 15 | United Kingdom | 72% | 83% | 66% | 62% | 79% |
| 16 | Belgium | 71% | 85% | 59% | 66% | 78% |
| 17 | Israel | 71% | 81% | 69% | 63% | 70% |
| 18 | Austria | 70% | 86% | 57% | 61% | 80% |
| 19 | Poland | 70% | 69% | 62% | 80% | 70% |
| 20 | South Korea | 69% | 80% | 75% | 73% | 53% |
| 21 | Canada | 69% | 86% | 68% | 54% | 75% |
| 22 | Sweden | 69% | 91% | 68% | 43% | 87% |
| 23 | Cyprus | 68% | 80% | 67% | 66% | 61% |
| 24 | United States | 68% | 80% | 67% | 55% | 72% |
| 25 | Japan | 67% | 90% | 52% | 72% | 60% |
| 26 | Italy | 66% | 84% | 52% | 62% | 71% |
| 27 | Slovakia | 65% | 64% | 61% | 67% | 67% |
| 28 | Estonia | 65% | 67% | 68% | 54% | 71% |
| 29 | France | 64% | 90% | 55% | 48% | 73% |
| 30 | Portugal | 64% | 79% | 59% | 56% | 64% |
| 31 | Lithuania | 61% | 59% | 69% | 48% | 72% |
| 32 | Hungary | 59% | 58% | 58% | 64% | 55% |
| 33 | Spain | 56% | 85% | 58% | 27% | 72% |
| 34 | Latvia | 55% | 50% | 63% | 45% | 66% |
| 35 | Finland | 54% | 84% | 63% | 18% | 92% |
| 36 | Greece | 52% | 71% | 50% | 38% | 56% |
| 37 | Chile | 52% | 69% | 70% | 27% | 56% |
| 38 | Mexico | 49% | 39% | 61% | 43% | 56% |
| 39 | Russia | 47% | 37% | 40% | 68% | 50% |
| 40 | China | 45% | 53% | 62% | 44% | 27% |
| 41 | Brazil | 42% | 50% | 52% | 18% | 63% |
| 42 | Turkey | 39% | 55% | 45% | 28% | 32% |
| 43 | Colombia | 35% | 58% | 60% | 8% | 54% |
| 44 | India | 9% | 4% | 65% | 17% | 2% |
Source: 2026 Natixis Global Retirement Index, Appendix B. Scores as of September 2026.
Each category has its own leader. Luxembourg tops health at 94%. Ireland leads finances in retirement for a second year. Denmark takes first in material wellbeing, and Finland holds the top spot for quality of life.
Why Did the U.S. Fall to 24th?
The U.S. fell from 21st to 24th as inflation picked up, government debt stayed high, and unemployment and income inequality both rose. Its overall score dropped from 70% to 68%. Quality of life was its one bright spot, rising three places to 22nd.
The U.S. had its best showing of the past decade in 2016, when it ranked 14th.
Here’s how each category moved:
- Finances in retirement fell eight places, to 18th. The inflation indicator slid to 30th. Government debt ranks 40th of 44. Tax pressure was a small win, up one spot to 11th.
- Health slipped one place, to 25th. No country in the index spends more on health per person than the U.S. Life expectancy improved, though other countries gained faster.
- Material wellbeing dropped four places, to 28th. Unemployment and income equality both lost ground. Income per person held at sixth.
- Quality of life rose three places, to 22nd. A big jump in environmental scores did most of the lifting.
Natixis’s 2025 Global Survey of Individual Investors, which feeds the report, shows how this feels at home. 76% of U.S. investors expect public debt to shrink their retirement benefits. 35% fear going broke paying for health and long-term care, well above the 24% global average.
There’s a hopeful note in the same data. Only one in five U.S. investors say it’ll take a miracle to achieve retirement security. Around the world, 43% say so.
The Biggest Movers in the 2026 Index
The Netherlands made the biggest jump inside the top 10, climbing three places to third. That’s its highest rank since the index began. Poland rose nine places to 19th and joined the top 25 for the first time.
Other shifts worth knowing:
- Iceland fell five places to ninth after unemployment rose and its material wellbeing score dropped.
- Czechia entered the top 10 for the first time, in 10th place.
- Malta climbed five places to 14th, lifted by quality of life.
- Finland dropped out of the top 25 to 35th, the steepest fall of any country. It now has the highest unemployment in the index.
The long view is just as telling. Ireland ranked 25th in 2013 and now sits in the top two. Sweden ranked seventh in 2013 and has slid to 22nd.
What Do Retirement Savers Worry About Most?
Running short of money to enjoy retirement tops the list for 40% of investors in that same Natixis survey. Inflation comes next at 38%. A third worry most about cuts to government benefits.
The survey reached 7,050 investors in 21 countries in early 2025. Each had at least $100,000 to invest. Even in that group, worry runs deep:
- 78% say funding retirement is up to them, up from 67% a decade earlier.
- 69% fear rising prices are eating the future value of their savings.
- 66% are saving less because everyday costs went up.
- 72% expect public debt to lead to smaller retirement benefits.
- 43% believe it’ll take a miracle to achieve retirement security. So do a third of investors with $1 million or more.
If any of those sound like you, you’ve got company. Each fear also lines up with a number you can test. You can plan for inflation at a rate above the long-run average and watch how your spending holds up.
Can You Retire to a Top-Ranked Country?
Most Americans can’t retire to the top five countries without family ties, high income, or a business. Norway, the Netherlands, and Denmark offer no residence permit built for retirees from outside Europe. Ireland and Switzerland do, with strict income and residency rules.
Norway
Norway’s immigration agency told The Local Norway it has no permit for retirees who want to live on their own funds. Most long-term permits depend on work, study, or family ties.
Ireland
Ireland’s Stamp 0 permit fits retirees with independent means. Ireland’s Immigration Service asks for at least €50,000 a year in income per person. You’ll also need a lump sum on hand, about the price of a home there, plus private health insurance. Immigration law firm Lewis Silkin notes that couples need €100,000 combined. Holders can’t work, and the permit renews each year. Some Americans qualify for citizenship through an Irish-born parent or grandparent instead.
Netherlands
The Netherlands has no residence route for pensioners. U.S. citizens can apply under the Dutch American Friendship Treaty instead. The Dutch immigration service requires you to register a business and invest at least €4,500 in most cases.
Switzerland
Switzerland’s retiree permit covers non-EU citizens 55 and older with close personal ties to the country, per Fragomen’s immigration lawyers. You’ll need enough money to live without working, health insurance, and a home there for at least half the year. Both the canton and federal authorities must sign off.
Denmark
Denmark has no retirement visa for non-EU citizens. The country’s official immigration portal lists one retiree permit. It covers people over 60 retiring from an international organization in Denmark after more than 12 years there.
Where Americans retire instead
The countries Americans pick for retirement often score low on this index. Greece tops International Living’s 2026 retirement index and many other lists of the best places to retire in the world. On the Natixis index, it ranks 36th of 44. Mexico ranks 38th, Portugal 30th, and Spain 33rd.
Those low scores make sense once you know what the index measures. It grades a country’s own pension system and economy. An American retiree brings Social Security and savings along. Cost of living, visa rules, and healthcare access matter more to that person.
The Social Security Administration counted 711,778 beneficiaries living outside the U.S. at the end of 2024, according to its Annual Statistical Supplement. Medicare covers almost no care overseas, so retiring abroad means budgeting for private or local health coverage.
Natixis vs. International Living: Two Different Retirement Indexes
Natixis and International Living each publish a ranking called a global retirement index, and they answer different questions. Natixis scores how well 44 countries support their own retirees. International Living ranks destinations for people who want to move abroad.
| Natixis Global Retirement Index | International Living Annual Global Retirement Index | |
|---|---|---|
| What it ranks | Retirement security for residents | Destinations for retirees moving abroad |
| Countries | 44 | 24 popular destinations |
| What it weighs | Health, finances, material wellbeing, quality of life | Housing, visas, cost of living, healthcare, climate, and more |
| 2026 No. 1 | Norway | Greece |
| Best use | Comparing retirement systems | Shortlisting places to live |
Natixis helps if you’re curious how the U.S. system stacks up. For a shortlist of places to live, International Living is the better starting point.
What Does the Index Mean for Your Own Plan?
Your plan answers what the index can only hint at: will your money last as long as you do? Start with the three pressures the report flags for the U.S.: inflation, Social Security, and healthcare costs. Then check the return you’ve assumed.
Return assumptions are where many plans drift. Advisors in Natixis’s 2026 Global Survey of Financial Advisors named unrealistic return expectations as the biggest mistake investors make. Investors in the 2025 individual survey expected 10.7% a year above inflation. Advisors said 8.8% is more realistic.
Three tests are worth running this year:
- Raise your inflation rate a point and see how far your spending stretches.
- Model a Social Security reduction to see how a smaller benefit changes your timeline.
- Lower your expected return and check whether your savings still cover your later years.
Most people stay close to home, and that’s a choice with its own tradeoffs. In a 2026 Pew Research Center report, 93% of adults 65 and older said they live in their own home. If they couldn’t manage alone, 60% said they’d want to stay put and have someone care for them there.
Choosing among the best places to retire in the U.S. means weighing housing, taxes, and access to care against what staying would cost. Some people free up cash by downsizing, which can trim property taxes and upkeep in one move.
The Boldin Planner lets you set your own inflation rate, return, and benefit cut. Then it shows how each change moves your savings. Watching your plan hold up under tougher numbers brings a calm no country’s score can hand you.
The U.S. ranking will move again next September. Your plan can get stronger long before that.
Frequently Asked Questions
Which country has the best retirement system in 2026?
Norway has the strongest retirement system in the world, according to the 2026 Natixis Global Retirement Index. It scored 83%, finishing first in back-to-back years. Top-three finishes in health, material wellbeing, and quality of life carry the result. Ireland placed second at 81%, and the Netherlands third at 79%.
Where does the United States rank in the Global Retirement Index?
The United States places 24th of the 44 countries in the 2026 Natixis Global Retirement Index, with an overall score of 68%. Its category scores range from 80% in health down to 55% in material wellbeing. In 2016, the U.S. ranked 14th, its best result over the past decade.
Why did the United States drop in the 2026 Global Retirement Index?
Higher prices and heavy public debt pushed the U.S. score down in 2026. Its finances-in-retirement category lost eight places in a single year. If you're planning retirement, test two risks first: hotter inflation and a smaller Social Security check.
What does the Natixis Global Retirement Index measure?
The Natixis Global Retirement Index measures how well a country's economy, health system, and environment support people after they stop working. It blends 18 data points, from life expectancy to air quality to government debt, into a single score. It doesn't rate how easy a country is to move to.
Is the top-ranked retirement country the best place for an American to retire?
High-scoring retirement countries often make poor destinations for American retirees. Norway and Denmark offer no retirement visa for non-Europeans. Popular expat picks like Greece and Mexico rank in the bottom third of the Natixis index. They still draw Americans with lower living costs and easier residency.
When does the Global Retirement Index come out each year?
Natixis Investment Managers releases its Global Retirement Index every September, with research partner CoreData. The 2026 edition reflects data as of September 2026. International Living publishes a separate destination ranking with a similar name, so check the publisher before you cite a result.
