Here's where you can make your retirement dollar stretch further.
If you’re getting close to retirement age, you’re likely thinking about all the different ways you want to spend your golden years. When do you tap into that hard-earned 401k? How will you now spend your days? And, perhaps most importantly, where do you want to live in retirement? Well, if you’re someone who’s looking for the best of the best in retirement, then it’s time to consider The Netherlands, which was just named the best place to retire, according to the Mercer CFA Institute’s Global Pension Index.
To come to its findings of the best places to retire, the research team compared 47 retirement income systems, accounting for 64 percent of the world’s population. The researchers gave a weighted average to measure each of the retirement systems against more than 50 indicators, “highlighting challenges and opportunities within each,” including the adequacy of income systems (how much you get at retirement), sustainability (can the retirement system deliver for the long-term), and integrity (can the system be trusted).
After crunching the numbers, The Netherlands came out on top thanks to its strong retirement system and good benefits.
“The Netherlands had the highest overall index value (85.0), closely followed by Iceland (83.5) and Denmark (81.3),” the findings noted. At the bottom of the list, it added, was Argentina, which had the lowest index value (42.3).
“Although the Netherlands is currently undertaking significant pension reform, the system is well-positioned to provide excellent benefits amid the move from a collective benefit structure to a more individual defined contribution approach,” the researchers explained in the findings.
Meanwhile, the United States sat in the middle of the pack with its retirement value at just 63.
"More and more often, individuals will have an increasingly important role to play as it relates to their own retirement,” Margaret Franklin, president and CEO of the CFA Institute, said in the findings. “As investment professionals, we need to help them prepare for that. Each year, this index serves as a critical reminder that there is a long way to go in many jurisdictions to make pension plans function at their best and for the long-term financial security of beneficiaries.”
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