Editor's Note: This story originally appeared on Boldin.
So, which country’s citizens enjoy the best retirement?
According to the latest report from the Natixis Investment Managers, it’s Norway due to its strong health outcomes, low unemployment, and high-income equality. Ireland comes in at second place.
According to the 2025 Global Retirement Index Report, the citizens of these 10 countries enjoy the highest levels of security across a range of factors:
- Norway
- Ireland
- Switzerland
- Iceland
- Denmark
- Netherlands
- Australia
- Germany
- Luxembourg
- Slovenia
All of the countries in 2025’s top 10 have made regular appearances in most of the last 10 years, except for Slovenia, which has broken through for the first time ever.
Norway, Switzerland, and Iceland regularly share the top three spots, underscoring the advantages smaller countries have in their ability to reach consensus on key issues that affect retirees.
Over the last 10 years, the United States’ best placement was in 2016 when we ranked as the 14th most secure place to retire. Our worst rankings were in the last two years at 22nd in 2024 and 21st in 2025.
Across the World, People Feel Stressed About Retirement
No matter where they live, people are finding retirement security elusive in 2025. According to Natixis Investment Managers, nearly half of investors (46%) say it will take a miracle to retire securely.
Inflation is the biggest stressor. Two-thirds of individuals report saving less because of higher costs, and 69% fear inflation has already eroded their retirement nest egg. More than a third admit inflation is “killing their retirement dreams.”
The worries don’t stop there. One in four fear they’ll never save enough, and a third worry government benefits could be cut as public debt rises.
Whether planning for retirement today or decades from now, people across the globe are grappling with the same unsettling question: Will I ever feel financially secure enough to stop working?
The 3 Biggest Retirement Fears
Natixis asked survey respondents about what they fear the most about retirement in 2025. Here is what is causing stress.
No. 1 fear: 40% say they are most worried about not having enough money to enjoy retirement
- Nearly 8 in 10 investors (78%) feel the responsibility for funding retirement now rests squarely on their shoulders. Yet many admit their savings goals and planning assumptions fall short of covering 25–30 years of life after work, especially the way they want to live.
No. 2 fear: 38% of respondents say inflation is killing dreams of retirement
- Sticky inflation is hitting everyday essentials — food, housing, and health care — especially hard. Nearly 7 in 10 investors (69%) say rising prices have already eaten into their retirement savings, making higher daily costs the top financial fear worldwide.
- Inflation is a significant risk to retirement security. If the cost of goods and services rises, you will need more savings to fund the difference.
No. 3 fear: 33% are most worried that government benefits will be cut
- Soaring public debt casts a shadow over retirement programs. Nearly three-quarters of investors (72%) believe it will lead to reduced benefits—forcing governments to make tough choices on retirement ages and payouts, and leaving individuals with even tougher planning decisions.
- Many people are worried about a future reduction in Social Security and Medicare. Regardless of what will happen, it is more important than ever to create and maintain your own comprehensive retirement plan — paying close attention to your own longevity and to your retirement income sources. The Boldin Retirement Planner can help you.
Behind the Natixis Rankings and Where the United States Ranks for Each Category
The Natixis survey creates an overall retirement security score that is based on 18 different performance indicators that are grouped into the following four categories.
1. Finances in Retirement
This category addresses old-age dependency, inflation, interest rates, tax pressure, governance, and government indebtedness.
These are the big external financial pressures that can impact an individual’s finances. The study says: “Finances in Retirement is a particularly important index, as it reflects the strength of a country’s financial system and the ability of the government to provide for its citizens in retirement.”
- How does the United States rank? The U.S. squeaked into the top 10, ranking as No. 10.
- The full top 10 list includes: Ireland, Switzerland, Singapore, South Korea, Australia, New Zealand, Lithuania, Chile, Estonia, and the United States.
2. Material Well-Being
This category measures how well retirees can support themselves in retirement and looks at income equality, income per capita, and unemployment.
- How does the United States rank? The United States comes in at No. 24 in this category. The relatively low ranking is largely because of income inequality.
- The top 10 countries for material well-being in retirement include: Norway, Czech Republic, Slovenia, Denmark, Netherlands, Ireland, Switzerland, Singapore, Germany, and Iceland.
3. Quality of Life
These are the factors that the study uses to determine quality of life for retirees: happiness, air quality, water and sanitation, biodiversity and habitat, and environmental factors.
- How does the United States rank? On these measures, the United States ranks 25th.
- The top 10 are: Finland, Norway, Iceland, Sweden, Denmark, Luxembourg, Switzerland, Ireland, Netherlands, and Germany.
4. Health
The health scores reflect physical wellness and the associated medical costs. This score is specifically based on life expectancy, health expenditure per capita, and non-insured health expenditure.
The study notes that “The higher a country’s health expenditure per person, the higher its life expectancy is expected to be.”
- The United States Ranks 24th: Generally, the United States does not score particularly well in this category because our life expectancy does not move in line with how much we spend on health care per person. The U.S. finishes first for the health expenditure per capita (we spend the most on health care) but only 30th for life expectancy.
- The top 10 are: Luxembourg, Ireland, Sweden, Norway, Switzerland, Australia, France, Netherlands, Japan, and the United Kingdom.
Can a U.S. Citizen Retire to One of the Top 5 Countries?
Here is a rundown of what it takes to retire to one of the top 5 best places to be retired.
Warning: These are not necessarily the easiest places to retire to from the United States — perhaps it is best if you were born there. (Go check out the best places to retire in the world if you are an American looking to retire abroad.)
1. Norway
Retiring to Norway, if it were possible, would be a huge shock — the long winter and endless darkness might make you rethink the plan. In fact, many Norwegians actually spend their retirement in Spain or Portugal where the cost of living is lower (and the elements are more forgiving).
According to LifeinNorway.net, “Unlike some European countries, there is no specific retirement permit available. To live in Norway without working, you must either already have permanent residence, or have enough money to sustain yourself.”
2. Ireland
Ireland holds a special place in the heart of many Americans. And, with rolling green hills, a temperate climate, tremendous natural beauty, and friendly, outgoing people, it could be a retirement delight.
First the good news: U.S. citizens can become an Irish citizen if they, their parents, or their grandparents were born there.
The bad news? To qualify under Stamp 0 (for independent means), you must show an annual income of 50,000 euros per person (or 100,000 euros for a couple), have a substantial lump sum for emergencies (roughly equivalent to the price of a typical house in Ireland), carry private health insurance, renew permission annually, and you will not have the right to work or access state benefits.
Note: The Stamp 0 rules are true even for those with parents or grandparents born in Ireland.
3. Switzerland
Mike Coady, a financial and expatriate expert, lists 10 reasons why Switzerland makes an ideal retirement destination.
Unfortunately, affordability is not one of those reasons.
4. Iceland
Retiring to Iceland would be a wintry, expensive, and difficult proposition for a U.S. citizen. It is one of the most expensive countries in the world.
Non-EEA/EFTA residents seeking a residence permit must prove they can support themselves; as of February 2025, that means holding at least 247,572 ISK/month (roughly US$1,700-$1,800, depending on exchange rates), far above older thresholds.
You’ll also need valid health insurance, proof of accommodation, and a clean criminal background. Bureaucracy is involved, and planning ahead is essential. Learn more about how to move to Iceland.
5. Denmark
Denmark offers world-famous quality of life — excellent public services, universal health care, social trust, and natural beauty.
However, Denmark is expensive with high taxes, a high cost of living and expensive housing. Also, foreign pensions may be taxed. And, retiring there as a U.S. citizen (or non-EU/EEA national) comes with tough requirements.
- No dedicated retirement visa. Non-EU retirees can’t simply apply for a “retirement permit.” You’ll have to qualify under other residence permit routes (family reunification, work, etc.).
- Residence and visas. If you stay past 90 days, you’ll need a long-term permit. Non-EU residents must meet strict immigration, housing, income, and often language/”integration” criteria.
- State pension (“Folkepension“) rights require long residence. To receive a full Danish state pension, you generally need to have lived in Denmark for 40 years between ages 15 and retirement. Less than that, and you may get a partial (“fractional”) pension.
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