India in the first week of August 2017 was ranked at the last position of 43rd in the 2017 Global Retirement Index (GRI).
The Index is published by French asset management company Natixis Global.
The Global Retirement Index ranks 43 countries on the basis of four factors, which are the material means to live comfortably in retirement (Material Well-being), access to quality financial services to help preserve savings value and maximize income (Finances), access to quality health services (Health), and a clean and safe environment (Quality of Life).
The 43 countries included in the index are the members of the Organisation for Economic Co-operation and Development (OECD), International Monetary Fund (IMF) advanced economies and the BRIC (Britain, Russia, India and China) countries.
Key highlights of 2017 Global Retirement Index
• The 2017 Global Retirement Index was topped by Norway, followed by Switzerland and Iceland.
• Eight of the top-performing countries in this year’s GRI are located in Western Europe.
• Each of the countries in the top 10 overall ranks highly in at least one sub-index, and most have strong scores across multiple sub-indices.
• India ranks 43rd in the GRI and has the same score compared to last year.
• India’s rank in all sub-indices is also in the bottom five. The country’s position in all sub-indices is Material Well-being (41st), Health (43rd), Finances (39th) and Quality of Life (43rd).
• Despite finishing third to last for the Material Wellbeing sub-index, India actually has a top five finish by having the third-highest score for the employment indicator.
• However, the nation also has the lowest income per capita of all countries in the GRI.
• India’s largest sub-index improvement is in finances and it moves up three positions from its ranking last year. However, India still has the fifth-worst sub-index score of any country in the GRI.
• India also finishes first in old-age dependency, second in tax pressure and sixth in interest rates.
• Progress in Carbon Dioxide emissions per GDP improves India’s environmental factors indicator. However, the nation still has the worst scores for happiness, water and sanitation, and air quality. It also has second-worst score for biodiversity and habitat among all GRI countries.
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