Tuesday, February 25, 2014
Sweden Ranks Number 4 In Retirement Index
Via The Local: Sweden has again made it to number 4 among the top 10 countries for financial security and quality of life among pensioners, the Natixis Global Asset Management’s retirement index showed. "Sweden’s social welfare system still serves as a role model to countries around the world", said Jörg Knaf, Managing Director Northern Europe at Natixis Global Asset Management. "However, pressure to control costs in the country’s health care system is putting strains on the government’s ability, despite a higher tax burden, to fund old age retirement. By seeking smarter investment opportunities today future retirees can take an active role in securing their standard-of-living for tomorrow". The report said that Sweden is well known globally for its “Nordic model”, a special welfare system and trademark of the Scandinavian countries of which the advanced healthcare system is a key component. It hardly surprises, therefore, that Sweden again scored strongly this year in the health sub-index. Important criteria in the health sub-index included the physician to patient ratio and statutory expenditures for services in the healthcare sector. The life expectancy index could also improve year on year to an average 82 years. According to the study, countries like Sweden that made it into the top 10 (1-6: Switzerland, Norway, Austria, Sweden, Australia, Denmark) have innovative and effective pension system structures in place. Sweden again reached top marks in the material well-being sub-index of this year’s study. They result from the highest per-capita income of Swedish citizens by EU standards and low income discrepancies among employees. The survey also shows, however, that providing for old age will become increasingly difficult going forward both in established industrialized countries and emerging markets as a result of global demographic trends and pressures on public finances.