10 countries with the worst retirement security

0


Northern Europe ranks high at the top of a new index that ranks countries on retirement security, but the 10 countries at the other end of the scale are all in sub-Saharan Africa, according to a new report that ranks the outlook for retirees in 150 countries. The top 10 countries share common characteristics that are good news for retirees: developed economies, high-quality health systems and strong social safety nets. The United States ranked 19th for the third year in a row. Read more: 10 countries with the best retirement security. But which countries are at the bottom of the list? Not really. Some of them have been ravaged by decades of violent conflict; all lack quality healthcare, according to the Natixis Global Retirement Index, published by Natixis Global Asset Management. The study is based on data from the World Bank and the World Health Organization, among other sources. Countries are measured on criteria such as access to health care, life expectancy, unemployment, income equality, tax burden, returns on savings, investment environment, the country’s overall financial stability and quality of life, including whether the country provides “a clean, secure environment in which to live,” according to the report. Here are the 10 countries that do the worst when it comes to retirement security, out of 150 countries:

Demonstrators in Bamako protest against calls for independence in the north launched by Tuareg rebels.

AFP / Getty Images

141. Mali

2014 rank: 143
Mali is home to world-renowned musicians, including Salif Keita and Oumou Sangare, and has hosted the Festival in the Desert for over a decade, where Malian artists have been joined on stage by international stars, such as Bono from U2 and others. But the festival is currently suspended due to civil unrest in the country, and this violent conflict is also a key factor negatively affecting the outlook for retirees there. While Mali’s retirement outlook is the best overall among the 10 lowest-ranked countries, the country is among the worst in healthcare, scoring only 9% on the healthcare sub-index. . Only Sierra Leone fared worse on this measure, scoring 8% for health care. As some of the worst performing countries move towards greater stability, any success can be fragile. For example, falling energy prices may hurt some countries, said David Lafferty, chief market strategist at Natixis Global Asset Management.

Burundian women in the village of Rwesero in January.

AFP / Getty Images

142. Burundi

2014 rank: 147
After decades of violent conflict, Burundi has made “significant democratic advances” in recent years, according to Human Rights Watch, a non-profit, non-partisan rights group. (It should be noted, according to Human Rights Watch, that Burundi’s progress is being compromised by recent government arrests of journalists.) Burundi has also made progress in retirement security, rising to 142nd in the rankings. index, against the 147th a year ago. The country’s higher overall ranking is in part due to a better score on the ‘material well-being’ sub-index – which measures per capita income, income equality and unemployment – where it scored 21%, against 8% a year earlier, according to the Natixis report. However, the measure turned out to be volatile: Burundi obtained 36% on material well-being in 2013.

A gravedigger works in a cemetery in Disco Hill, Liberia.

Getty Images

143. Liberia

2014 rank: 138
In 2014, Liberia was ravaged by the Ebola virus, with more than 3,800 deaths until February 7 of this year, according to the United States Centers for Disease Control and Prevention. But even without this crisis, Liberia and the other nations that rank in the top 10 for pension security face deep-rooted structural and economic problems. “In general, these countries lack modern infrastructure and have non-existent or underdeveloped health systems,” said the Natixis report. “They have some of the lowest per capita income levels and often face substantial obstacles to economic development, such as high levels of inflation and sovereign debt. In addition, an improvement in key indicators seems unlikely in the short term due to these chronic economic problems. “

A soldier patrols near the Libyan border in January.

AFP / Getty Images

144. Nigerian

2014 rank: 148
Retirement security is probably low on the list of concerns for Nigerien citizens. The country’s southern neighbor, Nigeria, is battling the militant group Boko Haram, and this conflict spills over to Niger’s borders in the form of raids and other violence. The Nigerien government recently agreed to send military troops as part of a regional offensive against Boko Haram, according to recent reports. To make matters worse, Niger is ranked among the bottom 30 countries in terms of health care, retirement finances, quality of life and material well-being, according to the Natixis retirement security index.

Gravestones at the Kenama Ebola Treatment Center in Sierra Leone.

AFP / Getty Images

145. Sierra Leone

2014 rank: 139
Sierra Leone and Liberia have the sad fate of competing for the position of the country worst affected by the 2014 Ebola outbreak, with Sierra Leone suffering higher number of cases but lower number of deaths than Liberia, according to US Centers for Disease Control and Prevention data through Feb.7. It is perhaps not surprising that Sierra Leone recorded the lowest score on the Natixis Pensions Study’s health sub-index, at just 8%, “due to a health system. underdeveloped, poor medical infrastructure and a low number of doctors per capita, resulting in low life expectancy and high infant mortality rates, ”the report says. At the other end of the healthcare scale, Austria scored 88%. The United States came in at 80%.

AFP / Getty Images


146. Lesotho

2014 rank: 144

Lesotho is a small, impoverished country surrounded entirely by South Africa, with one of the highest HIV rates in the world – 23% of adults, according to 2012 data from the CIA’s World Fact Book. Another problem is recent political instability. In Lesotho and similar countries, retirement “is not at the forefront” in the minds of people, said Lafferty of Natixis. Residents “really just live to get by. They don’t really save money in any type of government or workplace sponsored plan.

People line up outside a polling station in Mbeni during the January elections.

AFP / Getty Images

147. Comoros

2014 rank: 149
The Comoros, a small island nation in the Indian Ocean, is one of the poorest countries in the world, according to the CIA’s World Fact Book, which notes that the Comoros is just over 12 times the size of Washington. , DC In the Natixis report on pension security, the Comoros recorded just 10% on the “material well-being” sub-index, which includes per capita income, income equality and unemployment – the lowest score of all 150 countries surveyed except one. The Central African Republic also obtained 10% on this measure; South Africa had the lowest score at 8%.

A policeman guards a looted store in Kinshasa, DRC.

Reuters

148. Democratic Republic of Congo (DRC)

2014 rank: 145
Most of the countries at the bottom of the retirement security rankings still score relatively well on one measure: retirement finances, which includes the ability of retirees to maintain their savings and the strength of the country’s financial system. , according to the Natixis report. The DRC is no exception, with a score of 45% on the retirement finance sub-index, higher than Argentina’s 42% and Venezuela’s 35%. So why are countries with the riskiest retirement prospects doing so well on this measure? One word: taxes. Thanks to low tax rates, several African countries are seeing their retirement security scores increase. These countries “certainly have less tax burden,” said David Lafferty, chief market strategist at Natixis Global Asset Management. They also have a much weaker social infrastructure than the countries at the top of the Pension Security Index, he said.

Central African police forces in Bangui.

AFP / Getty Images

149. Central African Republic

2014 rank: 140
Over the three years of the Natixis pension security index, the Central African Republic posted a stubbornly low score on the “quality of life” sub-index. “The countries at the bottom of the list tend to stay in fairly stable positions,” the report said. There is unfortunately a reason for this. “Unfortunately, many countries are or have recently been war zones. For example, Syria, Democratic Republic of Congo, Sudan, Central African Republic, Mali, Yemen, Iraq, Afghanistan, Lebanon and Libya, ”the report says. Since mid-2013, thousands of people have been killed and many more displaced in the ongoing violence in the Central African Republic, according to a February 10 report on Reuters.com.

A demonstration in Lomé in November.

AFP / Getty Images

150. Togo

2014 rank: 146
Despite the fact that Togo managed to get 20% on the healthcare measure (a relatively robust score compared to 8% in Sierra Leone and 9% in Mali), Togolese retirees face significant risks, in particular on quality of life measures. “Due to high pollution levels and few disease prevention resources, these countries score low in the quality of life / natural environment sub-index, with most countries scoring less than 50% and Togo’s lowest score is 7%, ”the report said. noted.


Leave A Reply

Your email address will not be published.