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Retirement Saving Relies More On Individuals

The responsibility for financial security in retirement is falling even more heavily on individuals than ever before and this trend is likely to continue as government resources in countries around the world become scarcer, says Natixis Global Asset Management’s ‘2014 Global Retirement Index.’ It says it is becoming increasingly apparent that to ensure financial security in retirement, individuals need to take personal ownership of their destiny and view planning and saving for retirement as a serious, conscious, and strategic pursuit. The world’s aging populations will find the greatest financial security for retirees in European countries, which comprise eight of the top-10 countries ‒ Switzerland, Norway, Austria, Sweden, Denmark, Germany, Finland, and Luxembourg. Canada ranks 14th, ahead of the UK in 18th and the U.S. in 19th. However, financial security for retirees shows signs of erosion in many developed nations, including Europe, where governments are facing high debt levels and ongoing financial pressures. The index ranks 150 countries around the globe.

Courtesy of Benefits and Pensions Monitor website News Alerts 

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