Home Business-newBusiness Mexico, among the worst countries for retirement; ranks 40th in global index

Mexico, among the worst countries for retirement; ranks 40th in global index

by Magali Alvarez
1 comment

For the second consecutive year, Mexico fell from 36th to 40th place in the global retirement index prepared by asset manager Natixis IM.

With this result, Mexico is among the nations with the worst conditions for people to retire, due to their quality of life, health conditions, pension amounts, among other factors.

The Natixis IM index is made up of 44 countries. After Mexico, other nations where people suffer from a poor retirement are Colombia, Turkey, Brazil and India.

“Saving alone will not allow most people to reach their retirement goals, so investing and collaborating with a professional are important steps to achieve financial security in retirement,” said Mauricio Giordano, Managing Director of Natixis IM Mexico.

According to the institution’s report, the most punished aspects of the country are its material well-being, quality of life and the health aspects of its population. One of the main strengths are its finances, fiscal levels and interest rates.

Countries with the best retirement conditions To evaluate each country, Natixis IM takes these and other conditions into account; the better they are, the better retirement opportunities people will enjoy.

The five best-rated nations in the 2023 index are Norway, Switzerland, Iceland, Ireland and Luxembourg.

In general, the economic situation is the main factor contributing to improved conditions in retirement, the result of rising employment, wage increases and higher interest rates, which in turn improves returns on pension plans.

“People should set realistic goals and maximize savings opportunities, no matter how distant their retirement may seem,” concluded Mauricio Giordano.

In Mexico, people pensioned through an Afore receive an average pension of four thousand 926.17 pesos per month, which is below this year’s minimum wage of six thousand 223.2 pesos per month, according to IMSS data obtained through a transparency request.

TYT Newsroom

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