French asset management company Natixis Global published the Global Retirement Index (GRI) 2017 in the first week of August (8th August). India ranked last at 43rd position in the list. Four factors did the ranking of the 43 countries. These factors are comfortable living after retirement (Material Well-being), the quality financial process to help conserve savings value and boost income (Finances), easy availability of quality health services (Health), and a clean, safe and hygiene environment (Quality of Life).
Highlights of Global Retirement Index:
- The top position in the Global Retirement Index list of 2017 was occupied by Norway, followed by Switzerland and Iceland.
- India is ranked 43rd in the Global Retirement Index list for two consecutive years (2016 & 2017).
- India’s position is very low in all the sub-indices namely Material Well-being, Health, Finances, and Quality of Life with 41st, 43rd, 39th and 43rd positions respectively.
- India moved up three positions from its ranking last year in the finance unit.
- India also has the lowest per capita income of all countries in the GRI.
- India topped in old-age dependency, occupied the second position in tax pressure and was ranked sixth in interest rates.
- Although India’s environmental factors indicator improved a bit due to progress in Carbon Dioxide emissions per GDP, still India lags behind in elements such as air quality, biodiversity, and habitat among all GRI countries.