Elderly flash 90

Israel ranks 12th in the world in retirement security for its citizens, a report released over the weekend said. The report, compiled by Natixis Global Asset Management (NGAM), puts Israel ahead of Canada, the United States and the United Kingdom in the “safety net” government provides to pensioners, allowing them to live better and healthier lives, NGAM said.

The data was compiled from data gathered by the United Nations and the World Bank. The most secure retirees could be found in Europe, with Norway, Switzerland, Luxembourg and Sweden topping the list. Israel, in 12th place, follows Australia and is ahead of Canada in the ratings. Altogether, the index lists the conditions retirees in 150 countries can expect.

The ratings were derived based on twenty different indicators grouped into four major categories: health, material well-being, quality of life in retirement, and finances.

“Citizens of other industrialized nations can rely on strong social safety nets in old age, at least for now, said John Hailer, NGAM’s president and chief executive officer for the Americas and Asia. “In the U.S., we encourage workers to plan, save and invest, and promote policies that help them meet their future needs.”

NGAM is the world’s 13th-largest investment management firm and oversees $779 billion, including retirement assets for institutions and individuals.