Australia is in sixth place in a global ranking of welfare in retirement of 43 countries. New Zealand just pips Australia to be in fifth place, with Sweden in fourth. Norway takes top spot followed by Switzerland and then Iceland.
The study by Natixis Global Asset Management, a global fund manager, is based on more factors than retiree finances alone. It scores countries on indicators including finances, material wellbeing, quality of life and health.
It also rates the performance of each economy and then combines scores to produce an overall ranking, which it updates each year.
A higher score for Australia for quality of life and finances offset declines in material wellbeing and health for an overall score of 78 per cent, unchanged from last year.
Kevin Haran, Australia managing director of Natixis Global Asset Management, says though both Australia and New Zealand do very well, they could do better in the material wellbeing category.