Thursday, October 9, 2014

Retirement Planning (Canada)

Canada has been very consistent in the ranking of this year’s Global Retirement Index, maintaining the same overall score of 77%, and only dropping 1 place. Canada has increased both its ranking in the Quality of Life and the Finances in Retirement sub-indices, where it has also outperformed the average 30 top performing nations.

Retirees in Canada benefit from a top healthcare system and other positive related outcomes such as a life expectancy, (81 in 2014), and universal health coverage. Canada also performs well in the Quality of Life sub-index, due to policy makers increased focus on environmental issues, thus pushing Canada into 14th position in this sub-index.

However, Canada’s performance in the Finances in Retirement sub-index is particularly outstanding, as it has increased its ranking. Thanks partly to the wealth derived from natural resources, the Canadian economy has prospered in recent times. This has had positive effects on retiree life, as the Canadian government has been able to fund generous social security programs.

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