However, according to the index’s authors, Latvia has see improvements in the quality of life of pensioners.
"The countries with the most dramatic improvements are Greece (40th), Latvia (27th) and Hungary (37th). These countries all benefit from improvements in both the environmental factors and happiness indicators yet still rank near the bottom of the pack in terms of overallsub-index ranking. In terms of the happiness indicator, Greece ranks third to last, Hungary has the fifth-worst score and Latvia misses the bottom 10 by one spot," says the report.
Latvia has shown its best performance in the life quality sub-index where it has scored 69 percent. At the same time Latvia scored 68 percent in the finances index, 48 percent in the material wellbeing index and 46 percent in the health index. Latvia’s overall score in the retirement index is 57 percent.
The highest scoring countries in the Global Retirement Index 2017, which covers 43 countries of the world, include Norway, Switzerland and Iceland, while India, Greece and Brazil have been ranked at the bottom of the list.
The other Baltic states have shown better results than Latvia this year, with Lithuania taking 31st and Estonia 26th position.
The Global Retirement Index (GRI) is a multi-dimensional index developed by Natixis Global Asset Management and CoreData Research to examine the factors that drive retirement security and to provide a comparison tool for best practices in retirement policy.
The index incorporates 18 performance indicators, grouped into four thematic sub-indices, which have been calculated on the basis of reliable data from a range of international organizations and academic sources.
The full report is HERE.