SPANISH pensioners have one of the lowest levels of retirement security in the Eurozone, according to the latest Global Retirement Index.
The Natixis Investment Managers’ report assessing the situation of pensioners in 44 countries on the basis of 18 indicators puts Spain in 31st position overall. Only Cyprus, Lithuania, Latvia and Greece have a lower ranking.
Spain was ranked 37th for material well-being, which takes into account factors like income per capita, income quality and employment.
For retirement finances, which covers matters including inflation, tax pressure and interest rates, Spain was placed 24th.
On health, so factors like life expectancy and health expenditure, the country did rather better with position number 21.
For quality of life, covering factors like happiness, pollution and sanitation, Spain was 19th.
Iceland emerges as the country where retirees have the most money, the best healthcare and the highest life quality, followed by Switzerland and Norway.
The UK is ranked 17th in the index. Ireland moved up from seventh to fourth position this year.