Retirement
Global report ranks India worst for retirees
MAS Team 10 August 2017
India is the worst place to retire, even among the BRIC countries, according to a research published by Natixis Global, a French asset management company. The research was done on the basis of four factors – Clean and safe environment, access to quality health care, material means for comfortable living and access to quality financial services to maximize the income from savings. Forth three countries were considered for the report, including the IMF Advanced economies, Members of the Organization for Economic Co-operation and Development (OECD) and the BRIC (Brazil, Russia, India and China) countries.
On all of the four factors, India has been ranked the lowest, the same as last year. Switzerland, Norway and Iceland topped the ranking.
India’s ranks in the main factors are as follows:
• Quality health care - 43rd
• Material Well Being – 41st
• Quality of Life – 43rd
• Finances – 39th
It is understood that the top rank will be given to an advanced and developed nation; but even among the BRIC countries, India stood last.
It also has the lowest per capita income of all countries considered for the report.
Each of the four factors mentioned above are arrived at by scoring sub-factors which are related to the main factor.
In the ‘Quality health care’ sub-factors, India ranks last in all of them, such as Non-Insured Health Expenditure, Life expectancy and Health expenditure per capita.
In the ‘Material Well Being’ sub-factors, it has a top five finish by having the third highest score for the Employment indicator. However, it ranks last in Income equality and Income per capita.
In the ‘Quality of life’ sub-factors, India has the worst scores for happiness, water and sanitation and air quality. Progress in CO2 emissions per GDP has improved its Environmental factors indicator compared to last year. The country also has the second worst score for Biodiversity and Habitat.
The only improvement seen was in the ‘Financial’ sub-factors, where its overall ranking moved up three spots from last year. The main reason was improvement in these sub-factors: Old age dependency, Tax pressure and Interest rates. With the improvement, there has been a downgrade in the scores of ‘Banks’ non-performing loans
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