India is developing at a good speed but are we taking care of our old generation and are they getting sufficient benefits and facilities after retirement?
The Global Retirement Index, 2017 which has been published by Natixis Global shows India at the 43rd spot. The total number of countries which were ranked in this index is 43 and four parameters were considered to rank the countries.
Those four parameters are means to live comfortably after retirement, availability of products and services to keep investments safe and enhance their value, availability of health services and living conditions.
Only the member countries of BRIC (Britain, Russia, India and China), International Monetary Fund (IMF) and Organisation for Economic Cooperation and Development (OECD) were considered for this index.
Main points of the study:
1. The top three positions are acquired by Norway, Switzerland and Iceland.
2. The countries which are in top 10 have scored highly in one sub-index and handsomely in other indices too.
3. India’s score is similar to the one that it scored last year.
4. India has the lowest per capita among the countries in the list.
5. India is first in old-age dependency, second when it comes to tax pressure and sixth in terms of interest rates.
6. Eight out of ten top countries are from Western Europe.
7. The nation scored the 41st rank in Material Well Being, 43rd in Health, 39th in Finance and 43rd when it comes to Quality of Life.
8. India has scored third-highest when it comes to employment indicator.
9. The indicators of environmental factors have increased as carbon dioxide emissions are also improving. Despite that, the country has scored poorly in air quality, water, sanitation and happiness while it is the second worst as far as biodiversity and habitat are concerned.
India needs to improve on many factors to get a better rank in the Global Retirement Index. What do you say?