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Investment Management Company Natixis ranks Cyprus as the 29th place in the global retirement index in 2022, with a total score of 62%.
"Global Retirement Index (GRI) is a multidimensional index developed by Natixis Investment Manager and CoreData Research, aiming to examine factors that drive retirement security and provide a comparative tool for best practices in retirement policy,” Natixis explains.
This index includes International Monetary Fund (IMF) developed economies, Organization for Economic Cooperation and Development (OECD) member states and BRICS four countries ( Brazil , Russia, India and China).
According to the company, the index considers 18 different performance indicators , each assigned to one of four independent theme subindexes.
sub-index includes key aspects of retirement benefits, including material means to live comfortably after retirement, access to quality financial services to help keep storage, and the value and maximization of personal income. They also take into account access to quality medical services and a clean and safe environment.
Broadly speaking, the sub-index includes health, retirement finance, quality of life and material welfare.
Cyprus ranks 22nd with a percentage of 62% in terms of material welfare taking into account income equality, per capita income and unemployment rates.
This is 4% and 8 places higher than Cyprus' scores in 2021, respectively.
" ranked 21st to 25th are Finland , Cyprus, the United Kingdom, Estonian and Israel . Among them, Cyprus performed well, up 8 places from last year, and returned to the top 25 after staying outside for 8 years," the report pointed out.
In the same category, the UK’s score on income inequality fell by 15%, bringing the country’s material welfare rankings from 23rd to 18th.
"Japan, France, Hungary , Greece and Turkey have been the worst performing countries in the sub-index for the third consecutive year," it added.
Singapore , Swiss , and South Korea are the three best performing countries in this sub-index.
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