Why in News ?
In a global retirement index of 43 countries, India has ranked the lowest. The index by French asset management company Natixis Global, ranks countries on the basis of four factors
- The material means to live comfortably in retirement.
- Access to quality financial services to help preserve savings value and maximize income.
- Access to quality health services.
- A clean and safe environment.
What is the ranking of India
- On all four, India has ranked the lowest. Switzerland, Norway and Iceland topped the ranking.
- The index ranks 43 countries which include International Monetary Fund (IMF) advanced economies, members of the Organization for Economic Co-operation and Development (OECD) and the BRIC countries (Brazil, Russia, India and China).
- India ranks 43rd in this year’s GRI and has the same score compared to last year but its sub-indices all rank in the bottom five.
- Compared to last year’s report, India declines in the Material Well-being (41st) and Health (43rd) sub-indices but gains ground in Finances (39th) and Quality of Life (43rd).
Of course, the index ranks mostly advanced economies, not comparable to India. But India also ranks the lowest among the BRIC economies.
Source : Economic Times
GS II : Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes; mechanisms, laws, institutions and bodies constituted for the protection and betterment of these vulnerable sections.