For the third straight year, the United States has come in 19th among 150 nations for its ability to provide financial security and overall well being for its retirees, according to the 2015 Natixis Global Retirement Index released today.

The index is based on an analysis of 20 trends across four categories: health, material well being, finances and quality of life. Together, these trends provide a measure of the life conditions expected by retirees and near-retirees, according to Natixis.

For this year's ranking, the U.S. rose in two categories, but fell in two others. It got the strongest grades for finances, largely due to low interest rates and inflation. However, its high level of government debt and aging population could mean there will be less money for Medicare and Social Security in the future, said Natixis.

The country moved up slightly for health care as coverage has expanded to include more Americans, but it spends more per capita on medical care than any other nation, and that has not translated into improvements in life expectancy.

The U.S. dropped slightly for quality of life mainly due to environmental issues, and while the population has one of the world’s highest income levels, it has a relatively large gap in income equality, according to the rankings.

European countries dominated the top spots in the rankings. Citizens benefit from well-developed and growing industrialized economies with strong financial systems and regulations, broad access to health care, and substantial public investment in infrastructure and technology, according to Natixis. Despite relatively heavy tax burdens, these countries rank high in per-capita income levels and low in income inequality.

“Two non-European countries, Australia and New Zealand, have broken into the top 10,” said Ed Farrington, executive vice president for retirement and business development, Natixis Global Asset Management.

In New Zealand, employees are auto enrolled in a retirement savings program that both the government and employers make financial contributions to.

To opt-out of the plan, an employee would have to recognize that he would be forgoing the $1,000 kick starter the government contributes and the employee would also be forgoing the employer 3 percent match.

“Once employees have to look into the retirement plan, they quickly start to see the benefits of staying enrolled,” said Farrington.

“There is a lot to learn from that for the U.S.,” he added.

According to Farrington, about 50 percent of employed Americans don’t have access to a workplace savings plan. “Those who don’t have a much tougher hill to climb than those who do,” he said.

Workers who do have access to a retirement savings plan, on average, contribute 8.6 percent of their salaries to their 401(k).

And those who seek the advice of a financial advisor contribute 9.5 percent, compared with 7.7 percent by those without advisors, according to Natixis.

“The thing that needs to be addressed most aggressively in the U.S. is access, when we can get people saving through the workplace the outcomes are better,” said Farrington.

The following countries ranked highest for retirement security, according to Natixis, with No.1 providing the most secure retirement for its citizens.

No. 15
Czech Republic

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