Norway has reclaimed the top spot in Natixis Investment Managers' (Natixis IM) 2025 Global Retirement Index, although confidence overall remains "fragile", with 40 per cent worried they won’t have enough saved to enjoy retirement. 

The latest update revealed that Norway, which has featured in the top 3 since 2012, has taken back its top spot with an overall score of 83 per cent, whilst last year's leader, Switzerland, fell to third position with a score of 81 per cent.

Norway's return to first place was a reflection of its strong performance across the board, although it was boosted by particularly strong performance in income equality and happiness indicators.

Ireland, meanwhile, climbed to second place with a score of 82 per cent, up from fourth in 2024, while Iceland slipped one place to fourth on the back of a two-percentage-point score decrease to 79 per cent.

It was Denmark, however, that saw the most notable rise in the top ten, jumping from ninth to fifth with an improved score of 79 per cent, up from 77 per cent in 2024.

In contrast, the Netherlands fell out of the top five after falling one place in the overall rankings to sixth with an unchanged score of 79 per cent.

With some significant movement in country rankings, Natixis IM highlighted the update as evidence of the advantage smaller countries have when it comes to retirement, with only one large, developed country, Germany (8th), breaking into the top ten.

Whilst the UK came in second place in terms of the larger developed countries, it was ranked fourteenth overall.

France, however, dropped out of the top 25 altogether, slipping three places to 27th with an overall score of 65 per cent.
 
Natixis IM suggested that this may be a result of the ability of smaller nations to reach greater consensus on key issues that affect retirees. 

Created in collaboration with CoreData Research, the index assesses factors such as healthcare access and cost, climate, governance, and overall population well-being.

Rankings are relative, based on 18 performance measures across four sub-indices, scored from 0 per cent to 100 per cent, which together provide a full picture of the retirement environment in each country.

However, Natixis IM found that, regardless of where their home country may rank, individuals are finding that retirement security can be an elusive goal in 2025.

The report found that, burdened by persistent inflation, presented with a more complicated economic environment, and concerned about the impact rising public levels will have on government benefits in the future, nearly half (46 per cent) of individual investors say it will take a miracle to achieve retirement security.

Inflation has particularly increased stress levels, as, globally, 66 per cent said they are saving less because of higher everyday costs, while 69 per cent said it has eroded the future value of their retirement savings.

What's more, 38 per cent go so far as to say inflation is killing their retirement dreams.

Commenting on this year’s results, Natixis IM head of Northern Europe * MEACA, Andrew Benton, said: “Pressures on retirement across the globe are undeniable, and the results of the index underscore the importance of proactive planning across all areas to safeguard the future of retirees.

“Now in its 13th year, the Global Retirement Index reflects a growing concern that achieving retirement security is becoming harder in 2025, with volatility in personal finance, demographics, economics, and policy fuelling uncertainty about life after work.

"Retirement security is a shared responsibility and individuals, governments, financial service providers and employers all have a role to play.”

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