Swiss Have Retirement Figured Out

Swiss seniors have the word’s best retirement lifestyle, despite the high cost of living, according to the Global AgeWatch Index which ranks the quality of life of older people in 96 countries.

Canada ranks fifth on the 2015 list of top 20 nations for retirees, following Germany at fourth place, Sweden at third and Norway at second best.   The United States ranks ninth on the index and the United Kingdom lands at tenth best place to retire.

According to a report in U.S.A. Today, the pension program is in large part responsible for the quality of life Swiss seniors enjoy.  A state-run pension plan, by law, contributes to each worker’s retirement fund in addition to pensions from employers as well as personal tax-free retirement savings.  These policies ensure that retirees have adequate funds to maintain a comfortable lifestyle including covering the expense of private health insurance which is also required by law and is only subsidized if the cost exceeds eight per cent of income.

The Global AgeWatch Index ranks countries according to both the economic and social well being of its older citizens.   As the proportion of seniors over the age of 60 continues climb over the next fifteen years, the number of older adults worldwide is expected to reach 1.4 billion.

Switzerland, with 24 per cent of its population over the age of 60, has put a number of policies as well as active aging programs in place for older adults.  Global AgeWatch states in it’s annual report that by promoting human rights as we age, providing access to affordable, quality healthcare and working toward universal pension coverage, the vision of a better world for all ages is within reach.

To read the full report visit: http://reports.helpage.org/global-agewatch-index-2015-insight-report.pdf .