If you were planning on flying south to Florida after you retire, we may have some bad news.
The 2016 Global Retirement Index found that Canada is a far better country to hang up your hat. Out of 43 nations, Canada came in at 10th place, trailing European countries like Germany, Austria, Norway and the Netherlands. The land of maple leaves and moose was praised for its publicly-funded healthcare system and wide-reaching health insurance coverage. Canada also scored points for its low levels of income inequality, and high income per capita.
It wasn’t all good news though.
Researchers were concerned about Canada’s low interest rates, our high government debt and how much money residents are actually setting aside to prepare for their golden years. Low interest rates can make it difficult for aging Canadians to keep up with rising living costs, while high government debt casts an uncertain light on the future of social programs.
Despite that, we can still take comfort in knowing that the U.S. came in at 14th place. The country’s high levels of government debt coupled with its soaring rates of income inequality helped sink its score.
Looks like Canada wins again.