UK Slips to 15th in Global Retirement Index Amid Healthcare Pressures

The UK has slipped to 15th place in the Natixis Investment Managers global retirement index, down from 14th place last year. The index assesses not just financial measures but also healthcare access and cost, climate, governance, and overall population wellbeing.

According to the report, retirement security is under pressure globally due to ageing populations, high public debt, and inflation. Norway and Ireland lead this year's index in first and second place respectively for the second consecutive year.

The UK's biggest movement in the index was in healthcare, which fell 12 places to 22nd, mainly due to a drop in life expectancy. This is amid ongoing pressures on the NHS and widening health inequalities.

However, stronger material wellbeing helped offset this decline, rising five places to 21st. Income equality was the main contributor, climbing seven places to 31st, following above-inflation increases in the minimum wage and welfare benefits.

Andrew Benton, head of northern Europe at Natixis IM, says policy reform can help move people from retirement saving to retirement investing, improving their chances of retirement security. Individuals must also take ownership of their retirement journey, saving consistently.