Switzerland ranks fourth in this year’s Global Retirement Index by Natixis Investment Managers. With an overall score of 79 percent, it remains among the leading group of the 44 countries assessed, but has dropped one place compared with the previous year.

Norway tops the ranking with 83 percent, followed by Ireland with 81 percent. The Netherlands has overtaken Switzerland, climbing from sixth to third place. Although both countries are shown with a score of 79 percent, this is due to the rounding of the published figures.

Material Wellbeing Loses Ground

Switzerland’s strong overall result masks diverging developments across the individual categories. In three of the four areas assessed, the country ranks among the top ten: second for health, third for finances in retirement and eighth for quality of life.

In material wellbeing, however, Switzerland has fallen eight places to 15th. This makes the category the biggest weak spot in the Swiss result; the report does not provide specific reasons for the decline.

By contrast, Switzerland’s health score improved from 91 to 93 percent. According to the index, the country also has the highest life expectancy among those assessed. Its quality-of-life score rose from 80 to 82 percent, while its score for finances in retirement remained unchanged.

More than a Comparison of Pension Systems

Compiled together with CoreData Research, the index examines the conditions that contribute to financial security in retirement. It is therefore not simply a performance comparison of pension funds or state pension systems, according to the statement issued on Wednesday.

The assessment is based on 18 indicators across four categories: finances in retirement, material wellbeing, health and quality of life. The analysis for the 2026 edition was conducted between March and May this year.

Longer Lives, Greater Financial Burden

Natixis sees retirement provision coming under increasing pressure worldwide. Ageing populations are coinciding with high levels of government debt and persistent inflation in many countries. At the same time, savings need to finance increasingly long periods in retirement.

Many pension systems are still based on the economic and demographic conditions of the previous century. Changing career patterns and longer life expectancy are making adjustments increasingly necessary.

Sophie Courmont, who is responsible for Switzerland, Liechtenstein and Israel at Natixis Investment Managers, sees a responsibility for both policymakers and individuals. Policymakers need to facilitate access to retirement solutions and encourage long-term saving. At the same time, starting to build wealth early and doing so regularly remains an important part of personal financial security.

Four in Ten Investors Fear a Retirement Shortfall

An additional international investor survey by Natixis illustrates the extent of these concerns. A total of 7,050 individual investors across 21 countries were surveyed in February and March 2025.

Forty percent fear they will not have enough money to enjoy their retirement. Another 38 percent are concerned that inflation will erode their savings, while one-third expect they could face cuts to retirement benefits.

As many as 43 percent even believe it would take «a miracle» to achieve a financially secure retirement. These figures refer to the international sample of investors and not specifically to Switzerland.

US Continues to Lose Ground

Among other major economies, Germany has moved up one place to seventh. The United Kingdom has fallen to 15th, while the United States has dropped three places to 24th.

Finland recorded the sharpest decline, falling from 23rd to 35th place. Natixis attributes this to a deterioration in material wellbeing and high unemployment.

For Switzerland, the overall picture remains considerably more favourable. However, the decline in material wellbeing shows that even a top position does not mean that all aspects of retirement security are equally robust.