Survey: The state of pensioners in Hungary is alarming

Portfolio.hu writes that while pensioners are the happiest in Norway, Switzerland and Iceland, Hungary is ranked in the 30^th place on the Global Retirement Index ranking 43 countries. This is a somewhat better position compared to last year.

The Natixis Global Asset Management’s Global Retirement Index studies how secure the standard of living is for pensioners in different countries. The countries are ranked by four thematic indices that cover key aspects of welfare in retirement:

• finances in retirement
• material wellbeing
• quality of live
• health

The top 3 countries on the list are Norway, Switzerland and Iceland. This is the second year that Norway is in the lead, which is mainly due to the excellent health care system, high living standards and bettering tax environment. Switzerland is listed in the second place due to its high income/person rate and dynamic labour market. Iceland was able to stabilise its economy since the crisis, therefore the financial wellbeing rate has increased quite a lot in recent years.

The last three countries are Brazil, Greece and India. Hungary is ranked in the 30^th place. The country received the best record in the material wellbeing index (64%) and the worst in the quality of life index (54%). However, the analysis highlights that Hungary’s situation – along with Greece and Latvia – has improved dramatically since last year.

“These countries all benefit from improvements in both the environmental factors and happiness indicators yet still rank near the bottom of the pack in terms of overall sub-index ranking. In terms of the happiness indicator, Greece ranks third to last, Hungary has the fifth-worst score and Latvia misses the bottom 10 by one spot – despite these countries improving by at least 8% in the indicator.”

You can read more about the Global Retirement Index here.

Source: http://www.portfolio.hu/